4 articles

Innovation is Not Enough

Are you a techno-optimist or a techno-pessimist?

We seem to be living in an accelerated age of revolutionary technological breakthroughs. Barely a day passes without the announcement of some major new development in artificial intelligence, biotechnology, digitization, or automation. Yet those who are supposed to know where it is all taking us can’t make up their minds. At one end of the […]

Back to Fundamentals in Emerging Markets

Countries that rely on economy-wide accumulation of skills and improved governance may not grow as fast but may be more stable.

Following 15 years of hype, a new conventional wisdom has taken hold: emerging markets are in deep trouble. Many analysts had extrapolated rapid growth in countries such as Brazil, Russia, Turkey, and India into the indefinite future, calling them the new engines of the world economy. Now growth is down in almost all of them, […]

Mexico’s Growth Challenge

Mexico’s failure to grow remains a puzzle, but new economic reforms offer hope. When Mexico’s then-President Carlos Salinas de Gortari and his American counterpart, Bill Clinton, signed the North American Free Trade Agreement (NAFTA) more than 20 years ago, the hope was that the Mexican economy would be swept forward by a rising wave of […]

The New Manufacturing?

Can service industries play the role that manufacturing did in the past?

The global discussion about growth in the developing world has taken a sharp turn recently. The hype and excitement of recent years over the prospect of rapid catch-up with the advanced economies have evaporated.Few serious analysts still believe that the spectacular economic convergence experienced by Asian countries, and less spectacularly by most Latin American and […]