President Trump’s proclamation that, because of national security concerns, he will apply a 25% tariff on all steel and a 10% tariff on all aluminium imports into the United States – except provisionally and dependent on NAFTA negotiations those from Canada and Mexico – affects, respectively 5.1 billion Euros and 1.1 billion Euros of EU exports. These are not trivial sums. However, the invocation of the national security exception in this case has implications that go far beyond narrow sectoral effects: it represents a challenge to the world trading system as we know it, and is, in fact, the challenge the President of the United States had promised many times during the election campaign and as a private citizen in decades prior.
Brazilian conditional cash transfers are small amounts of money the government distributes directly to very poor households on condition that their children attend school and are vaccinated. The money goes to the women of the household, because research undertaken in the 1990s – and later confirmed in other countries – showed an increase in babies' height and weight when women have more control over household income. Greater control over household resources by women can strengthen an economy where poverty dominates, as spending patterns tend to be shaped in ways that benefit children. There is also strong evidence that improvements in women's education and health are associated with better outcomes for their children.
Manufacturing expansion has been special as a vehicle for job creation, productivity increases, and growth in non-advanced economies since the second half of the last century. First in Latin America, followed by Asia, and a renewal of production systems in Eastern Europe, rising manufacturing levels served as a channel to transfer labor from low-productivity occupation to activities using more modern technology coming from abroad.
The cruise speed with which Latin American economies are starting 2018 will be constrained by low investments and weak productivity growth in the recent past. Positive global economic prospects, the regional cyclical recovery, and policy initiatives to lift productivity are presenting Latin America’s leaders the opportunity to improve that trajectory. Nevertheless, political risks loom ahead.
The need for infrastructure is enhanced by the willingness of citizens to live decently through an increased access to electricity, water, roads and education. The high cost of transactions in Africa highlights the urgency to upgrade infrastructure, support the expanding economies and foster regional integration. Adequate infrastructure provision is thus considered a key prerequisite for the continent to achieve the intended objective of economic growth- and trade liberalization in particular (Ajakaiye & Ncube, 2010). From an economic perspective, public investment, particularly in infrastructure, is rather a means than an end in itself. It aims to increase private capital formation leading to wealth creation and prosperity (Agénor, Bayraktar & El Aynaoui, 2005). Several empirical studies have revealed the positive spillover effects of public infrastructure capital on the demand and supply for private inputs and outputs in the case of some industrialized countries (Demetriades & Manuneas, 2000). Conversely, in Latin America for instance, the lack of investment in infrastructure during the 1980s and 1990s, particularly in roads, telecommunications, and power generation capacity, had detrimental impacts on productivity, production costs and private investments, which in turn undermined output growth (Calderón & Servén, 2002).
The In-focus session about Jobless Growth during the Atlantic Dialogues on December 14th led to a passionate debate on the future impact of jobless growth on Africa as well as the world economy.
As I arrived in Casablanca, I swerved between the crowds and baggage carousels to find someone I had never met before. That day in Casablanca was my first as a U.S. Fulbright Research Scholar seeking to learn more about Morocco’s energy sector.
A clear African perspective and a candid debate… This is how the 6th edition of the Atlantic Dialogues high-level conference, organized by the Moroccan think tank OCP Policy Center in Marrakech, has started this morning. The six authors of the 2017 edition of the annual report Atlantic Currents, published by the OCP Policy Center, have debated with the room - some 350 participants - on the crucial questions of African migration, economic integration, and the possibilities of a continental response to terrorism.