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Faculty Perspectives
Debt Relief & Poverty
Blueprint Proposed for Wiping Out Disease-bearing Mosquitoes
Releasing genetically modified male mosquitoes could eliminate the danger of dengue fever and other mosquito-borne diseases within a year in communities of up to a million people, according to new research. The authors, including Professor Lawrence Wein, created a mathematical model to help scientists understand the order of magnitude they would have to deal with to wipe out dangerous native mosquito populations. (May 2007) Details
Genetics, Politics, and Economics Join to Solve Global Poverty
Professor Romain Wacziarg is bridging the fields of population genetics, anthropology, political science, and economics to determine how cultural differences promote or hinder wealth creation across nations.
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Debt Relief Doesn't Help Poor Countries
Although the move to forgive $40 billion in debt to 18 of the world's poorest nations is winning political support, Professor Peter Henry says it is unlikely to help these countries in any fundamental way. More foreign aid to help these countries build their economic infrastructure makes a lot more sense.
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Financial Instability
Institutional flaws, combined with monetary and fiscal policy for example, drive financial instability and prevent countries from placing local-currency denominated debt contracts, says Professor Peter Henry. Details
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Peter Henry |
Debt Relief Doesn't Help Some Small Countries
While debt relief helps many countries, Professor Peter Henry finds that for 42 of the world's poorest countries, debt relief will not produce the salutary effects that it did for the successfully developing nations. Details
Grants versus Loans for Development Banks
Professors Jeremy Bulow and Kenneth Rogoff argue that the long-standing practice of bundling loans into multilateral development assistance no longer makes sense in today's highly liquid capital markets, particularly in emerging market countries. Bulow and Rogoff instead offer a proposal designed to be market friendly and to put funding for multilaterals' future grant and technical assistance activities on a firm and predictable basis. Details
Below the Radar: Underground Markets for the Poor
The world's poor are dependent on underground markets. Nigeria, Egypt and Thailand to are estimated to have the world's largest underground economies, ranging in size from more than two-thirds to a third of official GDP. Why is so much activity in developing countries underground? What is the impact? What policies, both short and long term, should be implemented in countries with a bloated underground sector? Professor McMillan calls for shifting these markets above ground, which means changing the rules of the game. Details
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Romain Wacziarg |
Unlocking the Mystery of Poverty
One-fifth of the planet lives on less than $1 a day. "If we can unlock the mystery of why that is, the consequences for the welfare of billions of people will be huge," says Business School economics professor Romain Wacziarg. Details
