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Otaviano Canuto: Middle-Income Countries Should Not Be Rushed to ‘Graduate’ Status
Many donor countries seem eager to see middle-income countries (MICs) graduate to non-client status in multilateral development institutions before achieving their full development potential. Such institutions can significantly contribute to the sustainable development of MICs, while seizing many benefits from
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Otaviano Canuto: Central Banks and Inequality
While the economic recovery around the world remains uneven, fragile, and unbalanced across sectors, financial markets are generally doing very well, thanks! In the United States, only half of the unemployment caused by the pandemic last year has been reversed,
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Otaviano Canuto: Dependency and Disconnect of U.S. Financial Markets
U.S. stock and corporate bond markets performed extraordinarily well from the March financial shock caused by covid-19 to the end of last month. Then, three consecutive weeks of decline in the three major stock market indexes have been followed this
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Otaviano Canuto: Brazil, South Korea – Two Tales of Climbing an Income Ladder
The “middle-income trap” has captured many developing countries: they succeeded in evolving from low per capita income levels, but then appeared to stall, losing momentum along the route toward the higher income levels of advanced economies (Gill & Kharas, 2007,
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Otaviano Canuto: Economic Recovery From the Pandemic May Come to Resemble a Square Root
Signs of recovery in various parts of the global economy started in May, after the depressive dip imposed by Covid-19. They emerged after the easing of restrictions on mobility and reflected policies of flattening the recession curve (income transfers to
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Otaviano Canuto on Central Banks and Climate Change: Turning Black Swans Into Green
There are three possible motivations for the engagement by central banks with climate change: financial risks, macro-economic impacts, and mitigation/adaptation policies. Regardless of the extent to which individual central banks incorporate the three prongs of motivations, they can no longer
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Otaviano Canuto: Shapes of the Post-Coronavirus Economic Recovery
Data recently released on the first-quarter global domestic product (GDP) performance of major economies have showed how significant the impact of COVID-19 has been on economic activity and jobs, with large contractions across the board. The ongoing global recession is
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Otaviano Canuto: Channels of Transmission of Coronavirus to Developing Economies from Abroad
In a previous article, we highlighted how developing economies have faced simultaneous shocks from their external environment, as pandemic and recession curves have unfolded abroad (Canuto, 2020a). In addition to financial shocks, there have been declines in remittances, tourism receipts, and commodity
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Otaviano Canuto: More Than One Coronavirus Curve to Manage – Infection, Recession and External Finance
Flattening Coronavirus Curves – Otaviano Canuto First appeared at the Policy Center for the New South The global reach of COVID-19 is now clear. In a short time, country after country has suffered outbreaks of the new coronavirus, with each
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Otaviano Canuto, Center for Macroeconomics and Development: Is There a Middle-Income Trap?
The “middle-income trap” has become a broad designation trying to capture the many cases of developing countries that succeeded in evolving from low- to middle-levels of per capita income, but then appeared to stall, losing momentum along the route toward
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