Harvard's Growth Lab’s Post

I'm excited to share an article co-authored with Lucila Venturi, published by the Economics Observatory, that discusses the economic challenges facing Argentina's new government under President Javier Milei. In the article, we examine the deep fiscal and monetary reforms aimed at stabilizing one of the world’s highest inflation rates. We argue that, despite some initial promising results, there is still much work to be done to spark a full economic recovery. Thanks to the Economics Observatory for featuring our work. Dive into the full analysis to see how these reforms could shape Argentina's economic future. https://lnkd.in/dpzu-uPV

We have just published our semi-annual report titled as Directional Economics. In this comprehensive report, you can read our latest update and forecasts on the Hungarian economy on page 38. The good news is that Hungary has put the worst behind it and is on the road to recovery. The bad news is that we expect this road to be bumpy.

Now, when we have the newly elected president of Argentina, @JMilei, an Austrian Economics believer and libertarian, the #dollarization of #Argentina seems real. You can read about this tool here: https://lnkd.in/dan4s682 @n_cachanosky #austrianecon #austrianeconomics

@economics (on Twitter) - German Finance Minister Christian Lindner says his country is getting poorer because of its failure to generate economic growth https://lnkd.in/gKYjrUvU TNTT - These problems for Germany stem from pretty recent events, maybe. The sentiment here can be seen as suggesting some change to spur more growth and as international sentiment. #Economics #Industry #Markets #Finance #WSJ

EEA Hosted the Launch of the 2024 Economic Report on Africa and Economic Governance Report II at its 21st International Conference Addis Ababa, Ethiopia (July 20, 2024) – The Ethiopian Economics Association (EEA) held a vibrant plenary session on the second day of its 21st International Conference, co-organized with the United Nations Economic Commission for Africa (UNECA). The session focused on the launch of the 2024 Economic Report on Africa (ERA 2024) and the Economic Governance Report II (EGR II). The ERA 2024, titled “Investing in a Just and Sustainable Transition in Africa,” was presented by Nadia Quedraogo, Director of the Macroeconomics and Governance Division at UNECA. The report highlights the urgent need for investments in Africa’s just and sustainable transition, emphasizing the importance of inclusive growth and environmental protection. The EGR II, titled “A Framework for Assessing and Reporting Tax Expenditures in Africa,” was presented by Allan Mukungu, also from the Macroeconomics and Governance Division at UNECA. The report provides a comprehensive framework for assessing and reporting tax expenditures in Africa, which can help policymakers make more informed decisions about public spending. The session also featured remarks from discussants Cesar A. Cancho, a World Bank Economist, and Tassew Tadesse, a Senior Researcher at the EEA. Participants engaged in lively discussions on the implications of the reports for Africa’s economic development. The launch of the ERA 2024 and EGR II marks a significant milestone in the efforts to promote economic development and good governance in Africa.

Meet Jeremiah Oluwatobi, a dedicated economist with a profound interest in the intersection of economics, particularly in consumer transport, and its impact on Nigeria's economic growth. Jeremiah holds a graduate degree in Economics from the university, where he cultivated a deep understanding of economic principles and their real-world applications. Throughout his academic journey, Jeremiah delved into the intricacies of micro and macroeconomics, focusing on how these principles influence consumer behavior within the transportation sector. His research work on ResearchGate titled "The Effect of Value Added Tax on Nigeria's Economic Growth" stands as a testament to his commitment to exploring the economic landscape of Nigeria, particularly in relation to taxation policies and their implications for economic development. In his research, Jeremiah analyzes the impact of value-added tax (VAT) on Nigeria's economic growth, drawing upon his academic background and practical experience in understanding the dynamics of consumer behavior, resource allocation, and market behaviors within the transportation industry. By examining the intricate relationship between taxation policies and economic growth, Jeremiah sheds light on the challenges and opportunities facing Nigeria's economy, particularly in the context of the transport sector. Moreover, Jeremiah's research underscores the interdisciplinary nature of his work, as he integrates insights from economics, taxation, and transportation studies to provide a comprehensive analysis of the subject matter. His findings not only contribute to the academic discourse but also offer valuable insights for policymakers and stakeholders seeking to enhance Nigeria's economic growth trajectory while addressing the unique challenges within the transportation sector. Looking ahead, Jeremiah is poised to leverage his expertise and research insights to drive positive change within Nigeria's economic landscape. Whether through shaping public policy, advocating for evidence-based decision-making, or driving innovative solutions to enhance the efficiency and sustainability of transportation systems, Jeremiah remains steadfast in his commitment to making a lasting impact on Nigeria's economic growth trajectory. In summary, Jeremiah is a passionate economist whose academic background, research endeavors, and practical experience converge to create a dynamic and forward-thinking approach to addressing the economic challenges facing Nigeria, particularly within the realm of consumer transport. Through his research on the effect of value-added tax on Nigeria's economic growth and his dedication to understanding the broader implications for the transport sector, Jeremiah exemplifies a commitment to driving positive change and fostering sustainable economic development.

Pleased to share with you our latest publication in Applied Economics

In this week’s edition of Coffee Table Economics, its all about South Africa: --> A careful and brief waddle through SA’s muddy political puddle: Without running the risk of using hyperbole, it is safe to say that the 2024 National and Provincial Elections (NPEs) have ushered in a new era in South African politics – the era of coalitions. Whilst the likely formation of a government of national unity (GNU) might be one of the more market-friendly outcomes, a GNU agreement would not be without uncertainty or immune to fractious in-fighting. Collaboration between government, business, and labour is required to place the country on a renewed growth path – away from conflict and individual vested interests around growth that will, in turn, create jobs and a thriving economy where everyone benefits. --> SA’s economy weathers a stormy start to the year: SA’s anaemic economy again finds itself in negative territory after narrowly dodging a recession. Surprising slightly on the downside, SA’s 1Q24 gross domestic product (GDP) print contracted by 0.1% QoQ. --> Steady as she goes – amid all the election noise, the SARB keeps a cool head and holds rates steady: With the inflation outlook remaining elevated, unsurprisingly, the South African Reserve Bank (SARB) cautiously kept the repo rate on hold at 8.25% at its third Monetary Policy Committee (MPC) meeting for this year, with the prime rate remaining at 11.75%. We maintain that the SARB’s MPC will not rush to cut the repo rate. Any possible interest rate cuts will likely only materialise towards the end of 2024 and depend on the inflation outlook (locally and abroad) and global interest rate developments as we progress further into this year. Anchor

A CASE OF MAKE-BELIEVE ECONOMICS - When economists forecast with great accuracy, and when their forecasts produce eerily convenient numbers, it is wise to be cautious. https://lnkd.in/gf9Rdyi4

It's not radical, it's relevant! “Economics can help only if it expands our collective imagination instead of reining it in.” Wonderful to see the ideas coming from F & D (Finance and Development) Magazine - A Quarterly Publication of the International Monetary Fund What are economists taking about? Beyond Efficiency: A More-human Economics - There is a growing consensus that the economics profession must be open to new ideas and frameworks if it hopes to solve the world’s biggest problems GITA BHATT What Is Inclusive Growth? Proponents aim to create societies that are free, equal, and wealthy Ruchir Agarwal A New Compass for Economics: Economic renewal must begin with the goal of human flourishing on a thriving, living planet  Kate Raworth The Social Costs of Price: Price-tag policymaking doesn’t measure the things that matter to people  Katharina Pistor And so much more! Use this link to access the articles or to download this free publication. https://lnkd.in/gugBfune