Ask the Experts: The Economic Crisis

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Pamela Cox Answers: Beware of Losing Social Gains

There is no clear road map out of the global financial crisis. Indeed, the main solution seems to be increased reliance on the state in ways unthinkable only a few years ago. The global financial crisis risks becoming a human and social crisis, eroding recent social gains achieved in Latin America, an average of 5 percent per annum…

Francisco Gil Díaz Answers: Avoid Protectionism

The one fact public policies should take into account is that the local effects of the worldwide meltdown are unavoidable. They can be mitigated, but attempts to neutralize them through protectionism will be unsuccessful and will return to haunt countries that adopt them like a deadly boomerang…

Susan Segal Answers: Put Innovation and Entrepreneurship High on the Agenda

The depth and breadth of the global economic and financial crisis seems to be finally clear—at least partially. While this crisis does not have its origin in Latin America, Asia or any other emerging market, the effects are being felt around the world. Growth rates in most countries are in negative territory, unemployment is increasing and world trade is plummeting. And there is no easy solution to the dilemma in which we find ourselves today. It is becoming clearer, however, that just as the U.S. led the world into this crisis, it will have a huge role in leading the world out of it…

Mohamed A. El-Erian Answers: Time for a Policy “Big Bang”

Realization is finally sinking in that today’s crisis goes well beyond a cyclical slowdown. We are in the midst of a global, synchronized recession that is fundamentally re-defining economic, financial and institutional relationships. The resulting structural changes are consequential for the long-term growth of the global economy and the potential for poverty alleviation…

Tags: Economic Crisis, Expert Advice, Recession