Today, June 30, marks six months from the day Indians had to change their old 500 and 1000 rupee notes following the “demonetization shock” announced by the government. The turmoil in the economy has since calmed to a large extent. In the past six months, the government also launched a concerted effort to wean Indians away from cash as the preferred method of payment for transactions.
CGD Policy Blogs
The US agricultural sector is critical to global food security, but many of the policies that currently govern it negatively impact people around the world. In a new book, CGD visiting fellow Kim Elliott argues for practical policy reforms in three areas that are particularly damaging to developing countries: food aid, biofuel subsidies, and antibiotic resistance in livestock. As the US Congress works through a major new farm bill, Elliott joins the CGD Podcast to discuss how the US can reform agricultural policy to achieve better outcomes.
What if there were a way to reduce the nursing shortage in the UK in a way that is good for the National Health Service (NHS), good for developing countries, and good for nurses? We believe this is possible, with something called a Global Skills Partnership, that uses UK aid in a win-win partnership with developing countries. In this blog post we explain exactly how it could work to relieve the strain on the UK’s beloved NHS, and how such an idea might be replicated in other countries and other contexts.
Even if there were a robust and credible negative impact on wages of non-Hispanic male natives without a high school degree from low skill migrant arrivals (which there isn’t), this would not justify limiting immigration as there are better instruments to achieve the same objectives, with much less cost.
Labor Mobility and Wages of the Rich Country Poor, Part One: Analysis and Implications of the Mariel Boatlift
George Borjas has a 2015 paper on the Mariel boatlift experience arguing that, although the large and rapid influx of migrants did not affect average wages or low-skill wages, a small, demographically arbitrary, group experienced large negative wage impacts. In this blog post I want to address two technical points about this finding and then address more conceptual points about the policy implications of this general type of finding of distributional impacts in Part Two.
Without global action, by 2050 there could be as many as 10 million antimicrobial resistance-related deaths each year. An important—and often overlooked—part of the problem is the overuse of antibiotics in farm animals. CGD recently convened a roundtable discussion with technical experts to discuss possible ways to strengthen global cooperation to address livestock’s contribution to AMR. Drawing on that productive discussion, we outline steps that could help make inroads into the problem.
The United States is a major player in global agricultural markets. American farmers account for around 25 percent of world exports of wheat and corn, and are also among the largest producers and exporters of beef, pork, and poultry. This success is partly the result of those farmers having access to abundant land, deep financial markets, and modern technologies. But as I explore in my new book, Global Agriculture and the American Farmer: Opportunities for U.S. Leadership, it is also the result of government policies that distort markets and undermine the provision of global public goods. The poor in developing countries are particularly vulnerable to the negative spillovers of these policies.
A year ago, I requested comments on a draft manuscript about corruption. Last week, we launched the resulting book: Results Not Receipts: Counting the Right Things in Aid and Corruption. I think the text was considerably improved by the comments process (and I hope the commenters agree). So I’m hoping the discussion can continue even though the book is now out.
The Asian Infrastructure Investment Bank's (AIIB) second loan to Tajikistan in the space of a year raises questions about lending on “hard terms” to poor countries. In its eagerness to meet the investment needs of Asian countries, is the AIIB going to get burned by lending at non-concessional rates to poor countries? Or, if a country becomes unable to pay all its bills, will it treat the AIIB as a preferred creditor and prioritize debt service payments over the needs of the poor?
Britain just announced a new policy for trading with developing countries after Brexit. It maintains the current framework of duty free, quota free access to British markets for least developed countries. It is a good basis for the further steps we’d like to see Britain take.