Securing the future in a global economy

Ferranti, David de; Perry, Guillermo; Gill, Indermit S.; Servén, Luis; Ferreira, Francisco; Ilahi, Nadeem; Maloney, William F.; Rama, Martín

doi:10.1596/0-8213-4730-6

Cited by 68 publications

(59 citation statements)

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“…An integrated approach would include 1) reducing economic volatility in the region, 2) increasing the extent of social insurance mechanisms, and 3) protecting vulnerable persons from the consequences of crises by means of an adequate safety net. According to De Ferranti, Perry, Gill et al (2000), policies in these three dimensions should be designed taking into account the response of individuals to crises in the form of buying market insurance, self-insurance (such as savings) and self-protection (engaging in less volatile professional activities).…”

Section: Why Is Countercyclical Fiscal Policy Key Poor During Downturns?mentioning

confidence: 99%

Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy

Braun

Gresia²

2003

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in B738--------dc21 ©2003Inter-American Development Bank 1300 New York Avenue, N.W. Washington, DC 20577The views and interpretations in this document are those of the authors and should not be attributed to the Inter-American Development Bank, or to any individual acting on its behalf.The Research Department (RES) produces a quarterly newsletter, IDEA (Ideas for Development in the Americas), as well as working papers and books on diverse economic issues. To obtain a complete list of RES publications, and read or download them please visit our web site at: http://www.iadb.org/res 2 Abstract 1 Latin America is a volatile, crisis-prone region, with limited and inadequate social insurance. Therefore, the long-term as well as the recent poor suffer significantly during crises. Furthermore, social spending is procyclical in the region, but less so than total spending, indicating that the effectiveness of compensatory social policies designed to protect those vulnerable to crises is constrained by adjustments during recessions. The causes of procyclical fiscal policy lie in the political constraints on saving during expansions, combined with limited creditworthiness during recessions, and enhanced by economic volatility and a low share of automatic stabilizers in the budget.We evaluate policy options to reduce procyclicality of fiscal policy, such as stabilization funds, fiscal rules and reform of budget institutions, and argue in favor of integrated policy proposals based on more country-specific analysis, such as the Fiscal Responsibility Law in Brazil. JEL: E62, H62

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Section: Why Is Countercyclical Fiscal Policy Key Poor During Downturns?mentioning

confidence: 99%

Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy

Braun

Gresia²

2003

SSRN Journal

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“…For example, in Peru and Brazil, the poor show disproportionately less unemployment than the rich; while the pattern is reversed in Mexico and Uruguay, unemployment is still heavily represented among richer quintiles (de Ferranti et al 2000). Moreover, in the Philippines in 1997, only 12.1 percent of households whose heads were unemployed were poor, in comparison to a 25 percent poverty incidence in general (Esguerra et al 2001).…”

mentioning

confidence: 99%

Introducing unemployment insurance to developing countries

Vodopivec

2013

IZA J Labor Policy

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The paper analyzes key labor market and institutional features of developing countries that affect functioning of unemployment insurance: a large informal sector, weak administrative capacity, and large political risk. It argues that these countries should tailor an OECD-style unemployment insurance program to their circumstances, among others by relying on self-insurance (via unemployment insurance savings accounts), complemented by solidarity funding, as a key source of financing; by simplifying monitoring of job-search behavior and labor market status; and by piggybacking on existing networks to administer benefits. The paper also addresses the question whether developing countries should introduce unemployment insurance.JEL codes: J65, J68

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“…In other words, what a country exports does matter for subsequent growth. De Ferranti et al (2000) show that export diversification is associated with a higher GDP growth.…”

Section: Product Traps and Developmentmentioning

confidence: 97%

How rich countries became rich and why poor countries remain poor: It's the economic structure…duh!

Felipe¹,

Kumar²,

Abdon³

2014

Japan and the World Economy

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in ABSTRACTBecoming a rich country requires the ability to produce and export commodities that embody certain characteristics. We classify 779 exported commodities according to two dimensions: (1) sophistication (measured by the income content of the products exported); and (2) connectivity to other products (a well-connected export basket is one that allows an easy jump to other potential exports). We identify 352 "good" products and 427 "bad" products. Based on this, we categorize 154 countries into four groups according to these two characteristics. There are 34 countries whose export basket contains a significant share of good products. We find 28 countries in a "middle product"trap. These are countries whose export baskets contain a significant share of products that are in the middle of the sophistication and connectivity spectra. We also find 17 countries that are in a "middle-low" product trap, and 75 countries that are in a difficult and precarious "low product" trap. These are countries whose export baskets contain a significant share of unsophisticated products that are poorly connected to other products.To escape this situation, these countries need to implement policies that would help them accumulate the capabilities needed to manufacture and export more sophisticated and better connected products.

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Securing the future in a global economy

Cited by 68 publications

References 0 publications

Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy

Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy

Introducing unemployment insurance to developing countries

How rich countries became rich and why poor countries remain poor: It's the economic structure…duh!

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