co China’s economic bubble: Government guarantees and growing risks By webfeeds.brookings.edu Published On :: Mon, 11 Jul 2016 13:30:00 -0400 Event Information July 11, 20161:30 PM - 2:45 PM EDTSaul/Zilkha RoomsBrookings Institution1775 Massachusetts Avenue NWWashington, DC 20036 Register for the EventChina’s economy has achieved astonishing growth over the past three decades, but it may be undergoing its most serious test of the reform era. In his newly published book, “China’s Guaranteed Bubble,” Ning Zhu argues that implicit Chinese government guarantees, which have helped drive economic investment and expansion, are also largely responsible for the challenges the country now faces. As growth slows, corporate earnings decline, and lending tightens for small and medium-sized businesses, the leverage ratios of China’s government and its corporations and households all have increased in recent years. How desperate is China’s debt situation, and what can be done to avert a major crisis? On July 11, the John L. Thornton China Center at Brookings hosted Ning Zhu, deputy dean and professor of finance at the Shanghai Advanced Institute of Finance, Shanghai Jiaotong University. Zhu presented key findings from his research into Chinese sovereign, corporate, and household debt, and also introduced potential remedies to return China to the path of long-term sustainable growth. Following the presentation, Senior Fellow David Dollar moderated a discussion with Zhu before taking questions from the audience. Follow @BrookingsChina to join the conversation. Video China’s economic bubble: Government guarantees and growing risks Audio China’s economic bubble: Government guarantees and growing risks Transcript Transcript (.pdf) Event Materials China guaranteed bubble20160711_china_economic_bubble_transcript Full Article
co Setting the record straight on China’s engagement in Africa By webfeeds.brookings.edu Published On :: Mon, 11 Jul 2016 09:30:00 -0400 Since 2000, China has emerged as Africa’s largest trading partner and a major source of investment finance as well. Large numbers of Chinese workers and entrepreneurs have moved to Africa in recent years, with estimates running as high as one million. China’s engagement with Africa has no doubt led to faster growth and poverty reduction on the continent. It is also relatively popular: In attitude surveys, 70 percent of African respondents have a positive view of China, higher than percentages in Asia, the Americas, or Europe. While China’s deepening engagement with Africa has largely been associated with better economic performance, its involvement is not without controversy. This is particularly true in the West, as typical headlines portray an exploitive relationship: “Into Africa: China’s Wild Rush,” “China in Africa: Investment or Exploitation?,” and “Clinton warns against ‘new colonialism’ in Africa.” My forthcoming study, "China’s Engagement with Africa: From Natural Resources to Human Resources," aims to objectively assess this important new development in the world. It has six main findings: First, on the scale of China’s activities in Africa: The media often portrays China’s involvement as enormous, potentially overwhelming the continent. According to data from China’s Ministry of Commerce (MOFCOM), the stock of Chinese direct investment in Africa was $32 billion at the end of 2014. This represents less than 5 percent of the total stock of foreign investment on the continent. Stocks naturally change slowly. But the "World Investment Report 2015" similarly finds that China’s share of inward direct investment flows to Africa during 2013 and 2014 was only 4.4 percent of the total. Of course, direct investment is not the only form of foreign financing. The Export-Import Bank of China and China Development Bank have also made large loans in Africa, mostly to fund infrastructure projects. In recent years, China has provided about one-sixth of the external infrastructure financing for Africa. In short, Chinese financing is substantial enough to contribute meaningfully to African investment and growth, but the notion that China has provided an overwhelming amount of finance and is buying up the whole continent is inaccurate. The second main finding from the study concerns China’s direct investment and governance. China has drawn attention by making large resource-related investments in countries with poor governance indicators, such as the Democratic Republic of Congo, Angola, and Sudan. These deals are certainly part of the picture when it comes to China’s engagement with Africa. But the more general relationship between Chinese direct investment and recipients’ governance environments is different. After controlling for market size and natural resource wealth, total foreign direct investment is highly correlated with measures of property rights and rule of law, as one might expect. This is true both globally and within the African continent. China’s outward direct investment, on the other hand, is uncorrelated with measures of property rights and the rule of law after controlling for market size and natural resource wealth. In this sense, Chinese investment is indifferent to the governance environment in a particular country. While China has investments in the Democratic Republic of Congo, Angola, and Sudan, those are balanced by investments in African countries that have relatively good governance environments. South Africa, for instance, is the foremost recipient of Chinese investment. Furthermore, some of the big resource deals in poor governance environments are not working out well, so Chinese state enterprises may well rethink their approach in the future. A third main finding emerges from examining MOFCOM’s registry of Chinese firms investing in Africa. In the aggregate data on Chinese investment in different countries, the big state enterprise deals naturally play an outsized role. MOFCOM’s database on Chinese firms investing in Africa, on the other hand, provides a snapshot of what small- and medium-sized Chinese firms—most of which are private—are doing in Africa. Unlike the big state-owned enterprise investments, these firms are not focused on natural resource extraction. The largest area for investment is service sectors, with significant investment in manufacturing as well. Many African economies welcome this Chinese investment in manufacturing and services. The fourth finding relates to infrastructure finance. In recent years infrastructure financing has expanded and helped many African countries begin to rectify infrastructure deficiencies. Africa has been receiving about $30 billion per year in external finance for infrastructure, of which China provides one-sixth. Chinese financing is a useful complement to other sources, particularly as traditional finance from multilateral development banks and bilateral donors is concentrated on water supply and sanitation. Likewise, private participation in infrastructure is primarily aimed at telecommunications. China has filled a niche by focusing on transportation and power. Chinese financing of infrastructure has also enabled Chinese construction companies to gain a firm foothold on the continent. Evidence suggests that Chinese companies have become highly competitive, crowding out African construction companies. This is an area where a trade-off seems to exist between, on the one hand, getting projects completed quickly and cheaply and, on the other, facilitating the long-term development of a local construction industry. This point leads to the fifth finding of the study. There are a lot of Chinese workers in Africa; the total is disproportionately high when compared to the amount of financing that China has provided and compared to migrants from other continents. This is a tentative conclusion because the data on this issue are particular weak. But estimates of Chinese migrants in Africa exceed one million. Many migrants initially move to Africa as workers on Chinese projects in infrastructure and mining and then, perceiving good economic opportunities, stay on. Similar to the dilemma confronting the continent’s construction industry, African countries face a tradeoff here: Chinese workers bring skills and entrepreneurship, but their large numbers limit African workers’ opportunities for jobs and training. The popular notion that Chinese companies only employ Chinese workers is not accurate, but the overall number of Chinese workers in Africa is large. Africa may want to take a page from China’s playbook and limit the ability of foreign investors to bring in workers, forcing them to train local labor instead. The popular notion that Chinese companies only employ Chinese workers is not accurate, but the overall number of Chinese workers in Africa is large. A final important finding of the study is that the foundation for the Africa-China economic relationship is shifting. China’s involvement in Africa stretches back decades, but the economic relationship accelerated after 2000, when China’s growth model became especially resource-intensive. It made sense for resource-poor China to import natural resources from Africa and to export manufactures in return. These patterns of trade and investment are now likely to gradually shift in response to changing demographics. The working-age population in China has peaked and will shrink over the coming decades. This has contributed to a tightening of the labor market and an increase in wages, which benefits Chinese people. Household income and consumption are also rising. Compared to past trends, China’s changing pattern of growth is less resource-intensive, so China’s needs for energy and minerals are relatively muted. At the same time, China is likely to be a steady supplier of foreign investment to other countries, and part of that will involve moving manufacturing value chains to lower-wage locations. Africa’s demographics are moving in the opposite direction. In fact, they resemble China’s at the beginning of its economic reform 35 years ago. About half of Africa’s population is below the age of 20, which means the working-age population will surge over the next 20 years, and will probably continue growing until the middle of the century or later. Roughly speaking, Africa needs to create about 20 million jobs per year to employ its expanding workforce. Twenty years from now, it will need to create 30 million jobs per year. Africa’s demographics present both an opportunity and a challenge. It is unrealistic to expect the China-Africa economic relationship to change overnight. Nor would it be reasonable to expect large volumes of Chinese manufacturing to move to the continent in the near future; it would be more natural for value chains to migrate from China to nearby locations such as Vietnam and Bangladesh. But if even small amounts of manufacturing shift, this could make a significant difference for African economies, which are starting out with an extremely low base of industrialization. And it is useful to have a long-term vision that an economic relationship that started out very much centered on natural resources should shift over time to a greater focus on human resources. For more on China’s engagement in Africa, check out the Brookings event hosted by the John L. Thornton China Center and the Africa Growth Initiative this Wednesday, July 13, at 3:30pm. Authors David Dollar Full Article
co Class Notes: College ‘Sticker Prices,’ the Gender Gap in Housing Returns, and More By webfeeds.brookings.edu Published On :: Wed, 08 Apr 2020 15:48:43 +0000 This week in Class Notes: Fear of Ebola was a powerful force in shaping the 2014 midterm elections. Increases in the “sticker price” of a college discourage students from applying, even when they would be eligible for financial aid. The gender gap in housing returns is large and can explain 30% of the gender gap in wealth accumulation at retirement.… Full Article
co How COVID-19 could push Congress to start reining in vulture capitalism By webfeeds.brookings.edu Published On :: Thu, 09 Apr 2020 14:57:23 +0000 The effects of income inequality have been felt throughout society but they are especially evident in the current coronavirus crisis. For instance, workers in the information economy are able to telework and draw their salaries, but workers in the service sector are either unemployed or at great risk as they interact with customers during a… Full Article
co The constraints that bind (or don’t): Integrating gender into economic constraints analyses By webfeeds.brookings.edu Published On :: Thu, 16 Apr 2020 17:55:24 +0000 Introduction Around the world, the lives of women and girls have improved dramatically over the past 50 years. Life expectancy has increased, fertility rates have fallen, two-thirds of countries have reached gender parity in primary education, and women now make up over half of all university graduates (UNESCO 2019). Yet despite this progress, some elements… Full Article
co Gender and growth: The constraints that bind (or don’t) By webfeeds.brookings.edu Published On :: Thu, 16 Apr 2020 18:11:27 +0000 At a time when 95 percent of Americans, and much of the world, is in lockdown, the often invisible and underappreciated work that women do all the time—at home, caring for children and families, caring for others (women make up three-quarters of health care workers), and in the classroom (women are the majority of teachers)—is… Full Article
co Making apartments more affordable starts with understanding the costs of building them By webfeeds.brookings.edu Published On :: Tue, 05 May 2020 13:12:30 +0000 During the decade between the Great Recession and the coronavirus pandemic, the U.S. experienced a historically long economic expansion. Demand for rental housing grew steadily over those years, driven by demographic trends and a strong labor market. Yet the supply of new rental housing did not keep up with demand, leading to rent increases that… Full Article
co Women’s work boosts middle class incomes but creates a family time squeeze that needs to be eased By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 12:00:00 +0000 In the early part of the 20th century, women sought and gained many legal rights, including the right to vote as part of the 19th Amendment. Their entry into the workforce, into occupations previously reserved for men, and into the social and political life of the nation should be celebrated. The biggest remaining challenge is… Full Article
co We can’t recover from a coronavirus recession without helping young workers By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 20:34:14 +0000 The recent economic upheaval caused by the COVID-19 pandemic is unmatched by anything in recent memory. Social distancing has resulted in massive layoffs and furloughs in retail, hospitality, and entertainment, and millions of the affected workers—restaurant servers, cooks, housekeepers, retail clerks, and many others—were already at the bottom of the wage spectrum. The economic catastrophe of… Full Article
co Trade and borders: A reset for U.S.-Mexico relations in the Trump era? By webfeeds.brookings.edu Published On :: Fri, 09 Nov 2018 20:42:39 +0000 Trade integration has been a central element of U.S.-Mexico relations for the past quarter century. The renegotiation of the North America Free Trade Agreement (NAFTA) presented a formidable challenge for two neighboring countries who also manage a complex border agenda including immigration and drug control. As President Trump considered terminating NAFTA and continues to press… Full Article
co A parent’s guide to surviving COVID-19: 8 strategies to keep children healthy and happy By webfeeds.brookings.edu Published On :: Tue, 17 Mar 2020 17:20:24 +0000 For many of us, COVID-19 has completely changed how we work. Remote work might have its advantages for some, but when the kids are out of school and libraries and museums are closed, juggling two roles at once can be a challenge. What is a parent to do? As two developmental psychologists dedicated to understanding… Full Article
co After coronavirus subsides, we must pay teachers more By webfeeds.brookings.edu Published On :: Mon, 30 Mar 2020 20:11:58 +0000 As Wall Street takes a pounding from the COVID-19 pandemic, the stock we place in teachers is on the rise. If you didn’t appreciate the expertise, labor, and dedication that teachers patiently pour into our children most days of the week, then you probably do now. To help reduce the spread of the coronavirus, districts… Full Article
co Playful learning in everyday places during the COVID-19 crisis—and beyond By webfeeds.brookings.edu Published On :: Tue, 07 Apr 2020 20:19:31 +0000 Under normal circumstances, children spend 80 percent of their waking time outside the classroom. The COVID-19 pandemic has quite abruptly turned that 80 percent into 100 percent. Across the U.S., schools and child care centers have been mandated to close, and children of all ages are now home full time. This leaves many families, especially… Full Article
co Webinar: Confronting climate change in the global COVID-19 recovery By webfeeds.brookings.edu Published On :: Thu, 16 Apr 2020 15:56:04 +0000 The year 2020 was always going to be critical for climate change. In the United States, a presidential election will likely present two candidates whose climate policies are diametrically at odds. Around the world, countries are required to submit updated plans to the United Nations in order to comply with the Paris Agreement in a… Full Article
co Global solutions to global ‘bads’: 2 practical proposals to help developing countries deal with the COVID-19 pandemic By webfeeds.brookings.edu Published On :: Wed, 22 Apr 2020 14:51:01 +0000 In a piece written for this blog four years ago—after the Ebola outbreaks but mostly focused on rising natural disasters—I argued that to deal with global public “bads” such as climate change, natural disasters, diseases, and financial crises, we needed global financing mechanisms. Today, the world faces not just another global public bad, but one… Full Article
co The urgent question on Earth Day remains how to avoid the consequences of climate change By webfeeds.brookings.edu Published On :: Wed, 22 Apr 2020 19:31:42 +0000 Full Article
co COVID-19 and climate: Your questions, our answers By webfeeds.brookings.edu Published On :: The year 2020 was always going to be critical for climate change, but the coronavirus pandemic dramatically altered the picture in some respects. Earlier this week, Brookings hosted a virtual event on COVID-19 and climate change, moderated by Samantha Gross, and featuring Brookings Senior Fellow Todd Stern, Ingrid-Gabriela Hoven of the German Ministry for Economic Cooperation and Development (BMZ), Stéphane Hallegatte of the World Bank, and Pablo Vieira of… Full Article
co From rescue to recovery, to transformation and growth: Building a better world after COVID-19 By webfeeds.brookings.edu Published On :: Mon, 27 Apr 2020 18:40:08 +0000 Full Article
co How would sharing rebates at the point-of-sale affect beneficiary cost-sharing in Medicare Part D? By webfeeds.brookings.edu Published On :: Tue, 17 Mar 2020 15:06:52 +0000 The Medicare Part D program allows plans to negotiate rebates directly with manufacturers, often in exchange for preferential placement on the plan’s formulary. These rebates have grown from about 10 percent of Part D spending in 2007 to about 22 percent in 2017. While these rebates help keep Part D premiums low, they do so… Full Article
co COVID-19’s painful lesson in leadership By webfeeds.brookings.edu Published On :: Mon, 23 Mar 2020 17:29:08 +0000 Full Article
co The Elijah E. Cummings Lower Drug Costs Now Act: How it would work, how it would affect prices, and what the challenges are By webfeeds.brookings.edu Published On :: Fri, 10 Apr 2020 14:59:11 +0000 Full Article
co How well could tax-based auto-enrollment work? By webfeeds.brookings.edu Published On :: Tue, 14 Apr 2020 13:00:47 +0000 Auto-enrollment into health insurance coverage is an attractive policy that can drive the U.S. health care system towards universal coverage. It appears in coverage expansion proposals put forward by 2020 presidential candidates, advocates, and scholars. These approaches are motivated by the fact that at any given time half of the uninsured are eligible for existing… Full Article
co After COVID-19—thinking differently about running the health care system By webfeeds.brookings.edu Published On :: Thu, 23 Apr 2020 19:40:25 +0000 Full Article
co Removing regulatory barriers to telehealth before and after COVID-19 By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 16:00:55 +0000 Introduction A combination of escalating costs, an aging population, and rising chronic health-care conditions that account for 75% of the nation’s health-care costs paint a bleak picture of the current state of American health care.1 In 2018, national health expenditures grew to $3.6 trillion and accounted for 17.7% of GDP.2 Under current laws, national health… Full Article
co Coronavirus and challenging times for education in developing countries By webfeeds.brookings.edu Published On :: Mon, 13 Apr 2020 16:43:35 +0000 The United Nations recently reported that 166 countries closed schools and universities to limit the spread of the coronavirus. One and a half billion children and young people are affected, representing 87 percent of the enrolled population. With few exceptions, schools are now closed countrywide across Africa, Asia, and Latin America, putting additional stress on… Full Article
co A gender-sensitive response is missing from the COVID-19 crisis By webfeeds.brookings.edu Published On :: Thu, 16 Apr 2020 14:51:51 +0000 Razia with her six children and a drug-addicted husband lives in one room in a three-room compound shared with 20 other people. Pre-COVID-19, all the residents were rarely present in the compound at the same time. However, now they all are inside the house queuing to use a single toilet, a makeshift bathing shed, and… Full Article
co Mexico’s COVID-19 distance education program compels a re-think of the country’s future of education By webfeeds.brookings.edu Published On :: Tue, 21 Apr 2020 19:02:04 +0000 Saturday, March 14, 2020 was a historic day for education in Mexico. Through an official statement, the Secretariat of Public Education (SEP) informed students and their families that schools would close to reinforce the existing measures of social distancing in response to COVID-19 and in accordance with World Health Organization recommendations. Mexico began to implement… Full Article
co Adapting approaches to deliver quality education in response to COVID-19 By webfeeds.brookings.edu Published On :: Thu, 23 Apr 2020 21:08:11 +0000 The world is adjusting to a new reality that was unimaginable three months ago. COVID-19 has altered every aspect of our lives, introducing abrupt changes to the way governments, businesses, and communities operate. A recent virtual summit of G-20 leaders underscored the changing times. The pandemic has impacted education systems around the world, forcing more… Full Article
co The COVID-19 cost of school closures By webfeeds.brookings.edu Published On :: Wed, 29 Apr 2020 16:12:26 +0000 In mid-April, UNESCO reported 192 countries had closed all schools and universities, affecting more than 90 percent of the world’s learners: almost 1.6 billion children and young people. While some governments are starting to order teachers and students back to work, education—one of the most important drivers in human capital investment—continues to be largely closed… Full Article
co Recognizing women’s important role in Jordan’s COVID-19 response By webfeeds.brookings.edu Published On :: Wed, 29 Apr 2020 18:47:07 +0000 Jordan’s quick response to the COVID-19 outbreak has made many Jordanians, including myself, feel safe and proud. The prime minister and his cabinet’s response has been commended globally, as the epicenter in the country has been identified and contained. But at the same time, such accolades have been focused on the males, erasing the important… Full Article
co Avoiding the COVID-19 slump: Making up for lost school time By webfeeds.brookings.edu Published On :: Thu, 30 Apr 2020 14:53:48 +0000 In 1996, Harris Cooper of Duke University and his colleagues first reported on the effects of what came to be known as summer slide, or summer slump. Over the summer months, when children are not in school, those from under-resourced communities tend to lose roughly 30 percent of the gains they made in math during… Full Article
co How school closures during COVID-19 further marginalize vulnerable children in Kenya By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 15:39:07 +0000 On March 15, 2020, the Kenyan government abruptly closed schools and colleges nationwide in response to COVID-19, disrupting nearly 17 million learners countrywide. The social and economic costs will not be borne evenly, however, with devastating consequences for marginalized learners. This is especially the case for girls in rural, marginalized communities like the Maasai, Samburu,… Full Article
co To fast or not to fast—that is the coronavirus question for Ramadan By webfeeds.brookings.edu Published On :: Fri, 24 Apr 2020 09:00:59 +0000 Full Article
co How is Pakistan balancing religion and politics in its response to the coronavirus? By webfeeds.brookings.edu Published On :: Fri, 24 Apr 2020 21:26:05 +0000 As Ramadan begins, Pakistan has loosened social distancing restrictions on gatherings in mosques, allowing communal prayers to go forward during the holy month. David Rubenstein Fellow Madiha Afzal explains how Prime Minister Imran Khan's political compromise with the religious right and cash assistance programs for the poor help burnish his populist image, while leaving it… Full Article
co Why the U.S. needs a pandemic communications unit By webfeeds.brookings.edu Published On :: Wed, 29 Apr 2020 17:04:00 +0000 When policymakers consider how to respond to a public health crisis, they tend to think in terms of quarantines, medical equipment supplies, and travel restrictions. Yet they too often miss a vital factor that countries like South Korea and Singapore recognized long ago—that public communications are just as crucial. Effective communication increases compliance with public… Full Article
co Pakistan’s dangerous capitulation to the religious right on the coronavirus By webfeeds.brookings.edu Published On :: Mon, 04 May 2020 20:00:05 +0000 Perform your ablutions at home. Bring your own prayer mats, place them six feet apart. Wear masks. Use the provided hand sanitizer. No handshakes or hugs allowed. No talking in the mosque. No one over 50 years old can enter. No children allowed. These guidelines are part of a list of 20 standard operating procedures that Pakistan’s… Full Article
co The fundamental connection between education and Boko Haram in Nigeria By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 20:51:38 +0000 On April 2, as Nigeria’s megacity Lagos and its capital Abuja locked down to control the spread of the coronavirus, the country’s military announced a massive operation — joining forces with neighboring Chad and Niger — against the terrorist group Boko Haram and its offshoot, the Islamic State’s West Africa Province. This spring offensive was… Full Article
co Preventing targeted violence against communities of faith By webfeeds.brookings.edu Published On :: Fri, 14 Feb 2020 15:35:12 +0000 The right to practice religion free of fear is one of our nation’s most indelible rights. But over the last few years, the United States has experienced a significant increase in mass casualty attacks targeting houses of worship and their congregants. Following a string of attacks on synagogues, temples, churches, and mosques in 2019, the… Full Article
co Justice to come? Tunisia’s Truth and Dignity Commission By webfeeds.brookings.edu Published On :: Thu, 20 Feb 2020 07:08:21 +0000 The Brookings Doha Center (BDC) hosted a keynote event on March 4, 2020 featuring Sihem Bensedrine, the president of the Tunisian Truth and Dignity Commission (Instance Vérité et Dignité; IVD) and a veteran Tunisian human rights activist and journalist. Bensedrine helped found the Tunisian Human Rights League (LTDH), which is part of the National Dialogue… Full Article
co Webinar: Covid-19 and Migrant Workers in the Gulf By webfeeds.brookings.edu Published On :: Sun, 26 Apr 2020 07:19:35 +0000 The Brookings Doha Center (BDC) hosted a webinar discussion on April 29, 2020 about the effects of the COVID-19 pandemic on migrant workers in the Gulf Cooperation Council (GCC). Panelists explained migrant workers’ response to the virus, how the present situation will impact future labor conditions, and the difficulties of reporting on the ground. The… Full Article
co Class Notes: Elite college admissions, data on SNAP, and more By webfeeds.brookings.edu Published On :: Wed, 27 Nov 2019 14:48:42 +0000 This week in Class Notes: Harvard encourages applications from many students who have very little chance of being admitted, particularly African Americans Wages for low-skilled men have not been influenced by changes in the occupational composition of workers. Retention rates for the social insurance program SNAP (Supplemental Nutrition Assistance Program) are low, even among those who remain eligible.… Full Article
co Class Notes: Virtual college counseling, rainy-day savings accounts, and more By webfeeds.brookings.edu Published On :: Wed, 11 Dec 2019 16:28:18 +0000 This week in Class Notes: Accounting for the consumption value of college increases the rate of return to a college education by 12-14%. Virtual college counseling increases applications to four-year and selective universities, particularly among disadvantaged students, but the effect on acceptance and enrollment is minimal. Automatically enrolling employees into an employer-sponsored savings account is a cost-effective way of helping workers… Full Article
co Class Notes: Minimum Wage and Children’s Health, College Regrades, and More By webfeeds.brookings.edu Published On :: Wed, 12 Feb 2020 17:16:52 +0000 This week in Class Notes: Male students are significantly more likely than female students to ask for regrades in college. Higher minimum wages have large, positive effects on child health, with the greatest benefits between ages 1-5. The Social Security Annual Earnings Test reduces the employment rate of affected Americans by at least 1.2 percentage points. Our top chart shows… Full Article
co Teacher pension plans are getting riskier—and it could backfire on American schools By webfeeds.brookings.edu Published On :: Tue, 25 Feb 2020 11:00:03 +0000 Teachers are taking more investment risks than ever before. At least, their pension plans are. Even though teachers themselves are less willing to take risks compared to other professionals, teacher pension plans are taking substantial risks on their behalf. That has implications for today’s teachers and retirees, not to mention the long-term health of the… Full Article
co COVID-19 has revealed a flaw in public health systems. Here’s how to fix it. By webfeeds.brookings.edu Published On :: Thu, 30 Apr 2020 16:22:44 +0000 To be capable of surveilling, preventing, and managing disease outbreaks, public health systems require trustworthy, community-embedded public health workers who are empowered to undertake their tasks as professionals. The world has not invested in this cadre of health workers, despite the lessons from Ebola. In a new paper, my co-authors and I discuss why, and… Full Article
co How to ensure Africa has the financial resources to address COVID-19 By webfeeds.brookings.edu Published On :: Mon, 04 May 2020 09:31:32 +0000 As countries around the world fall into a recession due to the coronavirus, what effects will this economic downturn have on Africa? Brahima S. Coulibaly joins David Dollar to explain the economic strain from falling commodity prices, remittances, and tourism, and also the consequences of a recent G-20 decision to temporarily suspend debt service payments… Full Article
co The unreal dichotomy in COVID-19 mortality between high-income and developing countries By webfeeds.brookings.edu Published On :: Tue, 05 May 2020 16:23:05 +0000 Here’s a striking statistic: Low-income and lower-middle income countries (LICs and LMICs) account for almost half of the global population but they make up only 2 percent of the global death toll attributed to COVID-19. We think this difference is unreal. Views about the severity of the pandemic have evolved a lot since its outbreak… Full Article
co Who’s afraid of COVID-19? By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 15:30:02 +0000 Humans are bad at assessing risk even in the best of times. During a pandemic—when the disease is unfamiliar, people are isolated and stressed, and the death toll is rising—our risk perception becomes even more distorted, with fear often overwhelming reason. This is a recipe for disastrous policy mistakes. To be sure, the danger posed… Full Article
co Turning back the Poverty Clock: How will COVID-19 impact the world’s poorest people? By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 16:43:10 +0000 The release of the IMF’s World Economic Outlook provides an initial country-by-country assessment of what might happen to the world economy in 2020 and 2021. Using the methods described in the World Poverty Clock, we ask what will happen to the number of poor people in the world—those living in households with less than $1.90… Full Article
co Figures of the week: The costs of financing Africa’s response to COVID-19 By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 16:21:13 +0000 Last month’s edition of the International Monetary Fund (IMF)’s biannual Regional Economic Outlook for Sub-Saharan Africa, which discusses economic developments and prospects for the region, pays special attention to the financial channels through which COVID-19 has—and will—impact the economic growth of the region. Notably, the authors of the report reduced their GDP growth estimates from… Full Article