Generative AI 101

Friday, May 5
11:00-12:00 p.m. EDT
via Zoom

Generative AI is many things: it is simultaneously scary, useful, flexible, opaque, exciting, and dangerous. Researchers, policymakers, creatives and executives around the world are turning to these models to answer complex questions, rethink practices and procedures, and save time. Large language models are performing scientific research in many fields, while democratizing access and understanding of some types of AI. Yet researchers struggle to explain what these systems are actually doing, and how they utilize personal, public and proprietary data to answer our prompts. The data giants with huge computing power, skilled workers, and large troves of data are the main suppliers of generative AI and reaping many of the potential income and investments. Moreover, these systems are not perfect: they  make mistakes, do not have real time information and can perpetuate inaccuracies and disinformation. Finally, there is growing evidence that these chat-bots can both upskill (help less educated workers be productive) and deskill. In this webinar, we asked three researchers of varied backgrounds (computer science, communications, and systems engineering)  to discuss generative AI–its potential and pitfalls. We engaged in a moderated discussion for about 30 minutes and then we opened up the floor to audience questions.

Speakers:

Moderator:

Dr. Susan Ariel Aaronson, Director, Digital Trade and Data Governance Hub, Research Professor and Cross-Disciplinary Fellow, GWU

Looking for Balanced Growth in China: Insights from the latest IMF Staff report

Friday, March 4th, 2022
9:30 – 11:00 a.m. ET
via Zoom

The Institute for International Economic Policy was pleased to invite you to the fourth event in the 14th annual Conference on China’s Economic Development and U.S.-China Economic Relations. This year, the conference will take place as a virtual series. This conference is co-sponsored by the Sigur Center for Asian Studies and the GW Center for International Business Education and Research (GW-CIBER).

China’s recovery is well advanced—but it lacks balance and momentum has slowed, reflecting the rapid withdrawal of fiscal support, lagging consumption amid recurrent COVID-19 outbreaks despite a successful vaccination campaign, and slowing real estate investment following policy efforts to reduce leverage in the property sector. Regulatory measures targeting the technology sector, intended to enhance competition, consumer privacy, and data governance, have increased policy uncertainty. China’s climate strategy has begun to take shape with the release of detailed action plans. Productivity growth is declining as decoupling pressures are increasing, while a stalling of key structural reforms and rebalancing are delaying the transition to “high-quality”—balanced, inclusive and green—growth.

China rebounded strongly from the pandemic, but growth is losing momentum while remaining overly dependent on support from investment and exports. This imperils the nation’s long-sought transition to sustained high-quality growth that’s balanced, inclusive and green.

While China’s many challenges have no easy answer, the key message of the IMF’s annual Article IV review of the economy is that rebalancing toward a more consumption-based model will boost growth prospects in the short term and deliver high-quality expansion in the long run. Importantly, it will also help bring the country closer to achieving its climate goal of carbon neutrality before 2060.

About the Speakers:

Picture of Helge BergerHelge Berger is an Assistant Director in the IMF’s Asia and Pacific Department. He is also an adjunct professor of monetary economics at Free University of Berlin. He was educated in Munich, Germany, where he received his Ph.D. and the venia legendi for economics. Previously, he taught at Princeton University as a John Foster Dulles Visiting Lecturer, helped to coordinate the Munich-based CESifo network as its research director, and served as full professor (tenured) at Free University Berlin. At the IMF, he has worked in the Research and European Departments.

 

Picture of Wenjie ChenWenjie Chen is a senior economist on the IMF’s China team. Prior to that, she worked in the Research Department, where she was part of the World Economic Outlook team. She has also worked in the African Department on South Africa and South Sudan. Before joining the IMF, Wenjie worked as a professor at George Washington University School of Business and Elliott School of International Affairs. She received her MA and PhD in Economics from the University of Michigan.

 

About the Discussant:

Picture of Chao WeiChao Wei is an associate professor of economics at the George Washington University who previously taught at the University of North Carolina at Chapel Hill. She was the 2010-2011 Economic Policy Fellow at the Congressional Budget Office. Her primary research areas are: Macroeconomics, Labor Economics, Financial Economics, China Economy, and Energy and Environmental Economics. She has published papers, including at the top journal of the economics field, on the impact of energy price shocks on the stock market, the effect of personal and corporate income taxes on asset returns, and the endogenous determination of gasoline use and vehicle fuel efficiency. Her recent research focuses on the relationship between family structure and parental human capital investment, marital and labor supply behaviors of older adults, and the trade-off between stimulus and environmental objectives in the green stimulus programs. She holds degrees from Fudan University (BA), Columbia University (M.A.) and Stanford University (Ph.D.).

About the Moderator:

Picture of Jay ShambaughJay Shambaugh is Professor of Economics and International Affairs, and Director of the Institute for International Economic Policy at the Elliott School of International Affairs, George Washington University. His area of research is macroeconomics and international economics. He has had two stints in public service. He served as a Member of the White House Council of Economic Advisors from 2015-2017. Earlier, he served on the staff of the CEA as a Senior Economist for International Economics and then as the Chief Economist. He also spent 3 years as the Director of the Hamilton Project at the Brookings Institution. Jay is also a Faculty Research Fellow at the NBER and Non-Resident Senior Fellow in Economic Studies at Brookings. Prior to joining the faculty at George Washington, Jay taught at Georgetown and Dartmouth and was a visiting scholar at the IMF. He received his Ph.D. in economics from the University of California at Berkeley, an M.A. from the Fletcher School at Tufts, and a B.A. from Yale University.

Regulating Conglomerates: Evidence from an Energy Conservation Program in China

Tuesday, March 1st, 2022
12:30-2:00 EST
on Zoom

Paper Abstract: We study a prominent energy regulation affecting large Chinese manufacturers that are part of broader conglomerates. Using detailed firm-level data and difference-in-differences research designs, we show that regulated firms cut output and shifted some production to unregulated firms in the same conglomerate instead of improving their energy efficiency. To account for conglomerate and market spillovers, we interpret these results through the lens of an industry equilibrium model featuring conglomerate production. We quantify that a $160 social cost of carbon rationalizes the policy and that alternative policies that exploit public information on business networks can increase aggregate energy savings by 10%.

About the Speaker:

Picture of Daniel Yi XuDaniel Yi Xu is a Professor of Economics at Duke University and Research Associate at the National Bureau of Economic Research. Co-editor of the Review of Economics and Statistics. He is also the associate editor of the Rand Journal of Economics and AEJ: Applied. His research focus tends to focus on Productivity/Innovation, International Trade, and Industrial Organization. His website: https://sites.google.com/site/yixusite/

 

Linkages with Multinationals: The Effects on Domestic Firms’ Exports

Tuesday, November 16th, 2021
12.30 p.m. – 2.00 p.m. ET
via Zoom

Christian Volpe Martincus, Principal Economist at the Integration and Trade Sector (INT) of the Inter-American Development Bank (IDB) will present his paper, Linkages with Multinationals: The Effects on Domestic Firms’ Exports.

Abstract: Multinational firms’ affiliates are typically larger, more productive, and more likely to export. Existing empirical evidence suggests that domestic firms that are connected to these affiliates tend to have better export outcomes. However, this evidence relies on firm-to-firm connections that are assumed based on country-level input-output matrices rather than actually observed. In this paper, we examine, whether and how linking up with multinational firms results in improved export performance for domestic firms, using a unique dataset that includes data on firm-to-firm purchases and sales both within and across countries. Our estimation results indicate that selling to a multinational firm is associated with a significant increase in the probability that a domestic firm starts to export, especially to a country where the respective multinational firm is headquartered or has an affiliate. This estimated effect is larger when the multinational firms themselves sell abroad and when the linkage intensity is higher.

About the Speaker:

Picture of Christian VolpeChristian Volpe Martincus is Principal Economist at the Integration and Trade Sector (INT) of the Inter-American Development Bank (IADB). He previously worked for the Ministry of the Economy of the Province of Buenos Aires and was advisor at the MERCOSUR Commission of the National Representatives Chamber in Argentina.

He is the technical leader of INT impact evaluation work related to trade and investment operations and initiatives, the INT networks ELSNIT and TIGN, and the INT Trade Policy Research Seminar Series. He has also advised several governments in both Latin American and the Caribbean and OECD countries on export promotion, investment promotion, trade facilitation, and the evaluation of the respective programs.

Christian holds a PhD in Economics from the University of Bonn, Germany and a Master in Economics from the National University of La Plata (Argentina). He has presented in numerous international academic and policy workshops and conferences and has published on international trade and economic geography in several international professional journals. Christian is a CESifo Research Fellow and serves as an Associate Editor for the Review of International Economics.

India’s Economy in a Post-Pandemic World

Wednesday, October 20th, 2021
9:00 – 10:30 a.m. EDT / 6:30 – 8:00 p.m. IST
via Zoom

We were pleased to invite you to the second webinar in the 2021-2022 Envisioning India series, co-sponsored by the Sigur Center for Asian Studies and the Institute for International Economic Policy. This was a platform for dialogue and debate, and we invited you to engage with us in this series of important discussions.

The Envisioning India series is organized under the stewardship of IIEP Director Jay Shambaugh, Professor of International Affairs and Professor of Economics, and IIEP Distinguished Visiting Scholar Ajay Chhibber. The second event featured Dr. Sajjid Z. Chinoy, J.P. Morgan’s Chief India Economist, discussing “India’s Economy in a Post-Pandemic World.” Dr. Poonam Gupta (Director General of NCAER) and Dr. Shankar Acharya (former Chief Economic Adviser to the Government of India) provided discussant remarks.

What is the nature of India’s recovery from COVID? Where are pressures most evident and what opportunities has COVID-19 thrown up? Why is inflation so sticky in the wake of ostensible slack? What role can monetary and fiscal policy play in the near term? Where will India’s growth come from in a post-pandemic world: Consumption? Investment? Exports? Public Investment? Finally, what do we know about India’s underlying growth potential, particularly investment and productivity growth? Our distinguished speaker and discussants will address these and related issues in this second talk of 2021-22 on Envisioning India.

About the Speaker:

Picture of Sajjid ChinoyDr. Sajjid Z. Chinoy is J.P. Morgan’s Chief India Economist and a member of the Economic Advisory Council to the Prime Minister. He served as a member of the Advisory Council to India’s 15th Finance Commission and has previously served on several RBI committees and task-forces (Offshore Rupee Markets, Secondary Market for Corporate Loans) including the RBI’s “Expert Committee to Revise and Strengthen the Monetary Policy Framework” that proposed inflation targeting in 2014. He was a consultant to the FRBM Review Committee that proposed a new fiscal anchor in India in 2016. He has been ranked by Asset Magazine as one of the best individuals in fixed income research in India for every year since 2014. Sajjid has authored several publications on the Indian economy including co-editing a book on Indian economic reform with Dr. Anne O. Krueger, former First Deputy Managing Director of the IMF. He has previously worked at the International Monetary Fund (IMF) and McKinsey & Company, and holds a Ph.D. in Economics from Stanford University.

About the Discussants:

Picture of Poonam GuptaDr. Poonam Gupta is the Director General of NCAER. Before joining NCAER, she was Lead Economist, Global Macro and Market Research, International Finance Corporation (IFC); and Lead Economist for India at the World Bank. Her prior appointments include the Reserve Bank of India Chair Professor at National Institute of Public Finance and Policy (NIPFP); Professor at Indian Council for Research on International Economics Relations (ICRIER); Associate Professor, Department of Economics, Delhi School of Economics; and, Economist at the International Monetary Fund. Her research has been published in leading scholarly journals and featured in The Economist, Financial Times, and Wall Street Journal. She holds a PhD in International Economics from the University of Maryland, USA and a Masters in Economics from the Delhi School of Economics, University of Delhi.

Picture of Shankar AcharyaDr. Shankar Acharya is one of India’s leading policy economists. As the longest-serving Chief Economic Adviser to the Government of India (1993-2001), he was deeply involved in the economic reforms of the 1990s and served three successive governments of the Congress, the United Front and the National Democratic Alliance. He also served as Member of the Securities and Exchange Board of India (1997-2000), Member, Twelfth Finance Commission (2004) and Member, National Security Advisory Board (2009-2013). He was non-executive Chairman of Kotak Mahindra Bank for 12 years (2006-2018), one of India’s newest and most successful private commercial banks. He also served as a member of the Reserve Bank of India’s Advisory Committee on Monetary Policy (2005-2016). Earlier, he worked in the World Bank (1971-1982 and 1991-1993), where he led the World Development Report team for 1979 and was Research Adviser to the Bank. He returned to India in 1982 as Senior Fellow, National Institute of Public Finance and Policy (NIPFP), before joining the Government as Economic Adviser, Ministry of Finance (1985-90).

Since 2001 he has been Honorary Professor at the Indian Council for Research on International Economic Relations (ICRIER). He has authored eleven books (mostly on Indian economic issues and policies) and numerous scholarly articles in academic journals. His eight most recent books are Essays on Macroeconomic Policy and Growth in India (2006, Oxford University Press, Delhi); Can India Grow without Bharat? (2007, Academic Foundation, Delhi); India and Global Crisis (2009, Academic Foundation, Delhi); (edited with Rakesh Mohan) India’s Economy: Performance and Challenges (2010, Oxford University Press, Delhi; paperback edition, 2011); India after the Global Crisis (2012, Orient BlackSwan, Delhi), Towards Economic Crisis (2012–14) and Beyond (2015, Academic Foundation, Delhi), India’s Economy 2015-2000 (2021, Academic Foundation, Delhi) and An Economist at Home and Abroad (Harper Collins, 2021, Delhi).

Dr Acharya did his B.A. from Oxford, graduating with First Class honours in Politics, Philosophy and Economics in 1967, before proceeding to Harvard University to earn his Ph.D. in Economics in 1972.

Quality-adjusted Population Density

Tuesday, April 13, 2021
12:30pm – 2:00pm
via Zoom

About the Presenter:

Picture of Vernon HendersonJ. Vernon Henderson joined the London School of Economics in September 2013 as School Professor of Economic Geography, having previously been Eastman Professor of Political Economy at Brown University, USA.

His research focuses on urbanization in developing countries, looking both within and across cities and regions. His current research looks at topics such as the evolution of the urban system in sub-Saharan Africa; factor market distortions, city size and welfare in China; spatial equilibrium models; the dynamics of investment in the built environment in cities, how colonial legacy affects sprawl and the spatial layout of cities; the link between ethno-linguistic diversity and urban concentration worldwide; and the role of geography and history in economic development.

His recent work is published in journals such as the Quarterly Journal of Economics, American Economic Review, Review of Economic Studies, Science and Journal of Development Economics. He has been a co-editor of the Journal of Urban Economics and the Handbook of Regional and Urban Economics, and serves on a number of editorial boards. He is a founder and past President of the Urban Economics Association.

Over the years, he has worked with governments in Asia and Africa directly or indirectly through institutions such as the World Bank and DFIDic on formulating urban policies.

Paper: Quality-adjusted Population Density, joint with Adam Storeygard (Tufts) and David Weil (Brown)

Abstract: Quality-adjusted population density (QAPD) is population divided by l and area that has been adjusted for geographic characteristics. We derive weights on these geographic characteristics from a global regression of population density at the quarter-degree level with country fixed effects. We show, first, that while income per capita is uncorrelated with conventionally measured population density across countries, there is a strong negative correlation between income per capita and Q APD; second, that the magnitude of this relationship exceeds the plausible structural effect of density on income, suggesting a negative correlation between QAPD and productivity or factor accumulation; and third, that higher Q APD in poor countries is primarily due to population growth since 1820. We argue that these facts are best understood as results of the differential timings of economic takeoff and demographic transition across countries, and particularly the rapid transfer of health technologies from early to late developers.

Minimum Performance Targets, Multitasking and Incentives: Theory and Evidence from China’s Air Quality Controls

Friday, April 9, 2021
9:30 a.m.-11 a.m. EDT
via Zoom

The Institute for International Economic Policy is pleased to invite you to the 13th annual Conference on China’s Economic Development and U.S.-China Economic Relations. This year, the conference will take place as a virtual series. This conference is co-sponsored by the Sigur Center for Asian Studies and the GW Center for International Business Education and Research.

As the world’s largest emitter of carbon dioxide, China has launched serious efforts to tighten its environmental regulation and curb air pollution in the past decade. A distinctive feature of Beijing’s approach is the critical role played by local governments in complying with central directives. China’s local officials are currently facing the dual tasks of pursuing local economic development and curbing air pollution, which are potentially conflicting with each other. To resolve this multitasking challenge, China has recently introduced minimum targets for air quality controls to discipline local officials while continuing to link their promotion prospects to local economic performance (such as GDP growth).

In the event, Peking University’s Li-An Zhou discussed how local Chinese officials respond strategically to minimum air quality control targets when they care more about pursuing regional economic development, which is closely linked to their career prospects. Using a novel prefecture-day-level dataset on air quality, Zhou finds strong evidence that air quality tends to improve when the air quality target is doomed to fail, but deteriorates significantly after the early fulfillment of the target is guaranteed. These “asymmetric” strategic responses are mainly driven by “outsiders” – local officials with no previous exposure to the regions to which they are assigned. Greater pressure to promote local economic development reinforces outsiders’ asymmetric responses. For “non-outsiders” who have been promoted from the local area and who are more likely to intrinsically value the local environment, air quality performance is stable in both cases of target fulfillment. The study sheds light on how minimum air quality targets have worked in China’s context and highlights the role of intrinsic motivations in mitigating strategic responses to minimum performance targets in a multitasking environment.

JHU’s Matthew Kahn served as a discussant and IIEP Co-Director Jay Shambaugh served as a moderator, with a brief introduction from IIEP’s Chao Wei.

Co-sponsors:
Sigur Center for Asian Studies and the GW Center for International Business Education and Research.

Meet the Speakers: 

Li-An Zhou Li-An Zhou is is Professor of Economics and Associate Dean of Guanghua School of
Management at Peking University. He received his Ph.D. in economics from Stanford
University. His research interests include political economy, industrial organization,
economic development, and Chinese economy. Dr. Zhou has published papers in
leading international journals of economics and management including American
Economic Review, Review of Economics and Statistics, Economic Journal, Journal of
Public Economics, Journal of Development Economics, and Strategic Management Journal.

Meet the Discussant: 

Matthew E. KahnMatthew E. Kahn is the Bloomberg Distinguished Professor of Economics and Business at Johns Hopkins University and the Director of JHU’s 21st Century Cities Initiative. He is a research associate at the National Bureau of Economic Research and a research fellow at IZA. He has taught at Columbia, the Fletcher School at Tufts University, UCLA and USC. He has served as a Visiting Professor at Harvard and Stanford and as the Low Tuck Kwong Distinguished Visiting Professor at the National University of Singapore. He is a graduate of Hamilton College and the London School of Economics. He holds a Ph.D. in Economics from the University of Chicago. He is the author of Green Cities: Urban Growth and the Environment (Brookings Institution Press 2006) and the co-author (joint with Dora L. Costa) of Heroes and Cowards: The Social Face of War (Princeton University Press 2009). He is also the author of Climatopolis (Basic Books 2010) and Blue Skies over Beijing: Economic Growth and the Environment in China (joint with Siqi Zheng published by Princeton Press in 2016). He has also published three other Amazon Kindle books on urban economics and microeconomics. His research focuses on urban and environmental economics.

Meet the Moderators: 

Jay Shambaugh is Professor of Economics and  International Affairs, and Co- Director of the Institute for International Economic Policy at the Elliott School of International Affairs, George Washington University. His area of research is macroeconomics and international economics. He has had two stints in public service. He served as a Member of the White House Council of Economic Advisors from 2015-2017. Earlier, he served on the staff of the CEA as a Senior Economist for International Economics and then as the Chief Economist. He also spent 3 years as the Director of the Hamilton Project at the Brookings Institution. Jay is also a Faculty Research Fellow at the NBER and Non-Resident Senior Fellow in Economic Studies at Brookings. Prior to joining the faculty at George Washington, Jay taught at Georgetown and Dartmouth and was a visiting scholar at the IMF. He received his Ph.D. in economics from the University of California at Berkeley, an M.A. from the Fletcher School at Tufts, and a B.A. from Yale University.

Chao WeiChao Wei received her PhD in Economics from Stanford University in 2001. She also holds an MA in economics from Columbia University and a BA in economics from Fudan University in China. She worked at the University of North Carolina at Chapel Hill for two years before joining the George Washington University in 2003. Her research interests focus on the intersection of macroeconomics and financial economics, with an emphasis on the asset pricing implications of production economies with and without nominal rigidities. Her current research examines the impact of personal and corporate income taxes on asset returns. She teaches undergraduate and graduate courses in Money and banking, and Macroeconomic Theory.

“Saving Indian Capitalism from its Capitalists” featuring Pranab Bardhan

Wednesday, December 9th, 2020

11 a.m. – 12:30 p.m. EST

This was the fourth webinar in the “Envisioning India” series, co-sponsored by the Sigur Center for Asian Studies and the Institute for International Economic Policy. It is a platform for dialogue and debate. We invited you to engage with us in this series of important discussions.

The “Envisioning India” series is organized under the stewardship of IIEP Co-Director James Foster, Oliver T. Carr, Jr. Professor of International Affairs and Professor of Economics, and IIEP Distinguished Visiting Scholar Ajay Chhibber. The fourth event, “Saving Indian Capitalism from Its Capitalists” featured Pranab Bardhan, Professor of Economics at University of California-Berkeley, with Jean Dreze of Ranchi University and Michael Walton of the Harvard Kennedy School as discussants. The discussion was moderated by Professor James Foster, with an introduction by Dr. Ajay Chhibber. 

There are often conflicts in the interests of capital, between the individual capitalist and the capitalist class as a whole, or between the short-term and long-term interests of capital. In this talk Prof. Bardhan will give examples of this from the Indian debates on labor reform, health policy, policy relating to vocational education, and from the adverse effects of the growing concentration of capital and wealth distribution.

The Indian Government recently enacted a major labor reform that has been widely acclaimed in the business press and by many reform-mongering economists. The attempt to bring some order to the tangled mess that the old labor laws were in is welcome, as is more ‘flexibility’ in labor employment, but as part of a package deal with a reasonable scheme of unemployment benefits for workers; instead the new laws make the already insecure life of workers even more insecure. Capitalists envisioning a longer horizon should be aware that an insecure, disgruntled and unstable labor force is a sure bet for low productivity. Health Policy and Vocational Education also show cases where a more prudent corporate sector would have encouraged serious alternatives; this will be elucidated in the talk.

More broadly, in India the data suggest that corporate concentration and inequality in wealth distribution are galloping, and this is bound to have a negative effect on overall productivity and innovations, which is against the  long-term interests of capitalism, even though it may give a boost to short-term earnings of individual capitalists. Compared to some other capitalist countries, India is more of a crony oligarchy that is cozy with the current regime, which is not conducive to a healthy development of capitalism in India. Nor is the rise in inequality that exacerbates demand deficiency, or the brazen dilution of environmental regulations that poisons and uproots community life.

About the Speakers: 

pranabPranab Bardhan is Professor of Graduate School at the Department of Economics at the University of California, Berkeley.

He was educated at Presidency College, Kolkata and Cambridge University, England. He had been at the faculty of MIT, Indian Statistical Institute and Delhi School of Economics before joining Berkeley. He has been Visiting Professor/Fellow at Trinity College, Cambridge, St. Catherine’s College, Oxford, and London School of Economics. He held the Distinguished Fulbright Siena Chair at the University of Siena, Italy in 2008-9. He was the BP Centennial Professor at London School of Economics for 2010 and 2011. He got the Guggenheim Fellowship in 1982.

He has done theoretical and field studies research on rural institutions in poor countries, on political economy of development policies, and on international trade. A part of his work is in the interdisciplinary area of economics, political science, and social anthropology. He was Chief Editor of the Journal of Development Economics for 1985-2003. He was the co-chair of the MacArthur Foundation-funded Network on the Effects of Inequality on Economic Performance for 1996-2007.

He is the author of 16 books and editor of 14 other books, and author of more than 150 journal articles including in leading Economics journals (like American Economic Review, Quarterly Journal of Economics, Econometrica, Journal of Political Economy, Review of Economic Studies, Economic Journal, American Economic Journal, Journal of Development Economics, Journal of Public Economics, Economic Development and Cultural Change, Oxford Economic Papers, etc.).

He has also contributed essays to popular outlets like New York Times, Scientific American, Financial Times, Die Zeit, Boston Review, Los Angeles Review of Books, Project Syndicate, Yale Global Online, Times of India, Economic Times, Business Standard, Bloomberg Quint, Hindustan Times, Ideas for India, Economic and Political Weekly, Indian Express, Ananda Bazar Patrika (in Bengali), etc. From 2018 he has started writing a periodic column for a New York-based blog, 3 Quarks Daily.

 

Picture of Jean DrezeJean Dreze studied Mathematical Economics at the University of Essex and did his Ph.D. at the Indian Statistical Institute, New Delhi. He has taught at the London School of Economics and the Delhi School of Economics, and is currently Visiting Professor at Ranchi University as well as Honorary Professor at the Delhi School of Economics. He has made wide-ranging contributions to development economics and public policy, with special reference to India. His research interests include rural development, social inequality, elementary education, child nutrition, health care and food security. Jean Drèze is co-author (with Amartya Sen) of Hunger and Public Action (Oxford University Press, 1989) and An Uncertain Glory: India and Its Contradictions (Penguin, 2013)”, and also one of the co-authors of the Public Report on Basic Education in India, also known as “PROBE Report”.

 

michael_waltonMichael Walton is Senior Lecturer in Public Policy at the Harvard Kennedy School, where he has taught since 2004 and is a visiting fellow at the Centre for Policy Research, Delhi.  He also works with the non-profit IMAGO Global Grassroots whose goal is to take established grassroots organizations to the next level, working especially in India, Latin America and the United States.  In addition to core teaching in HKS’ MPA in International Development, he leads the signature on-line course on Policy Design and Delivery.  Michael was VKRV Rao Professor at the Institute for Social and Economic Change, Bangalore in 1998 and 1999, and visiting professor at the Delhi School of Economics in 1998. Before academia, Michael worked for 20 years at the World Bank, including on Brazil, Indonesia, Mexico, and Zimbabwe. While there he led two and worked on two other World Development Reports (on Poverty in 1990 and 2000, on Labor in 1995, and Inequality in 2005). Book publications include co-edited volumes on Culture and Public Action, and No Growth without Equity? on Mexico.  Current research in India, includes work on Self Help Groups and on scaling up of social enterprises of the Self Employed Women’s Association.  Michael is also a dancer.  He has a B.A. in Philosophy and Economics and an M.Phil. in Economics from Oxford University.

 

This event was sponsored with the Sigur Center for Asian Studies.

IMF’s Sub-Saharan Africa Regional Economic Outlook (REO)

Thursday, July 23, 2020
11:00 am – 12:30 pm EDT
WebEx

Please join the Institute for International Economic Policy for a virtual discussion of the International Monetary Fund’s Sub-Saharan Africa Regional Economic Outlook

Schedule
11:00 – 11:05 a.m. Welcoming Remarks:

James Foster, George Washington University

Jennifer Cooke, IAFS Director, George Washington University

11:05 – 11:35  a.m. Chapter 1: Covid-19: An Unprecedented Threat to Development

Presenter: Andrew Tiffin John, Senior Economist, International Monetary Fund

Discussant: Louise Fox, Non-Resident Senior Fellow, Brookings, and on the Advisory Board of the G-7
Inclusive Growth Financing Forum, former USAID Chief Economist and World Bank official

11:40 – 12:05 p.m. Chapter 2: Adapting to Climate Change in Sub-Saharan Africa

Presenter: Seung Mo Choi, Senior Economist, International Monetary Fund

Discussant: Stephen C. Smith, Chair, Economics Department, and Professor of Economics and International Affairs, George Washington University

12:05 – 12:30 p.m. Chapter 3: Digitalization in Sub-Saharan Africa


Presenters: Preya Sharma, Special Assistant to the Director, African Department, International Monetary Fund

Discussant: Esther Chibesa, Head of Treasury and Trade Solutions for SSA, Citigroup; and Michael Mutiga,
Managing Director and Head of Corporate Finance for SSA, Citigroup

12:30 p.m.  Concluding Remarks


Summary Chapter: A Cautious Reopening

The outlook for 2020 for sub-Saharan Africa is considerably worse than was anticipated in April and subject to much uncertainty. Economic activity this year is now projected to contract by some 3.2 percent, reflecting a weaker external environment and measures to contain the COVID-19 outbreak. Growth is projected to recover to 3.4 percent in 2021 subject to the continued gradual easing of restrictions that has started in recent weeks and, importantly, if the region avoids the same epidemic dynamics that have played out elsewhere. Africa’s authorities have acted swiftly to support the economy, but these efforts have been constrained by falling revenues and limited fiscal space. Regional policies should remain focused on safeguarding public health, supporting people and businesses hardest hit by the crisis, and facilitating the recovery. The region cannot tackle these challenges alone, and a coordinated effort by all development partners will be key.

 

Chapter 2: Adapting to Climate Change in Sub-Saharan Africa

Sub-Saharan Africa is especially vulnerable to climate change, as it relies heavily on rain-fed agriculture and has limited resilience and coping mechanisms. On average, climate change could reduce GDP growth by at least 1 percentage point in the month a climate shock occurs. Improving access to finance and insurance, education, health, telecommunications, and physical infrastructure would be most effective in raising resilience. Ensuring food security and raising agricultural productivity in the face of intensifying weather shocks will require targeted social assistance, crop diversification, and improved irrigation. While these measures involve large public spending, they should be prioritized as they will be more cost-effective than frequent disaster relief. Limited fiscal space poses a challenge and means that development partners’ support will be critical.

 

Chapter 3: Digitalization in Sub-Saharan Africa

Sub-Saharan Africa is rapidly becoming digitally connected and closing gaps with the rest of the world. Digital solutions have taken on added importance as countries grapple with the unprecedented fallout of the COVID-19 pandemic. While countries have leveraged digital solutions and policy responses, the connectivity gap between sub Saharan Africa and the rest of the world suggests that greater digital readiness could have allowed the region to do even more. Analysis conducted before the pandemic found that a one percentage point increase in internet penetration in the region can raise per capita growth by 0.1–0.4 percentage points. There does not appear to be an impact on overall employment, although the share of service sector jobs increases. Evidence suggests that digitalization can help reduce corruption, improve public sector accountability and efficiency, and support financial development. However, digitalization brings new risks (e.g., cybersecurity, business continuity) and challenges to macro-policy making (e.g., monetary policy transmission, changes to the tax base). As attention turns to policies for the recovery, the pandemic will likely serve to accelerate the digital transformation. Policies to enable and leverage greater connectivity include investing in complementary infrastructure and human capital; developing legislative and regulatory frameworks; and supervisory powers to ensure consumer protection and address risks.

Participants:

James E. Foster is the Oliver T. Carr Professor of International Affairs and Professor of Economics at the George Washington University. He received his Ph.D. in economics from Cornell University and holds a Doctorate Honoris Causa from Universidad Autónoma del Estado de Hidalgo (Mexico). Professor Foster’s research focuses on welfare economics — using economic tools to evaluate and enhance the wellbeing of people. His joint 1984 Econometrica paper (with Joel Greer and Erik Thorbecke) is one of the most cited papers on poverty. It introduced the FGT Index, which has been used in thousands of studies and was employed in targeting the Progresa CCT program in México. Other research includes work on economic inequality with Amartya Sen; on the distribution of human development with Luis Felipe Lopez-Calva and Miguel Szekely; on multidimensional poverty with Sabina Alkire; and on literacy with Kaushik Basu. Foster regularly teaches introductory and doctoral courses on international development and each spring joins with Professor Basu in presenting an undergraduate course on Game Theory and Strategic Thinking, to which staff and Board members of the World Bank are also invited. Professor Foster is also Research Fellow at the Oxford Poverty and Human Development Initiative (OPHI), Department of International Development, Oxford University, and a member of the Human Capital and Economic Opportunity (HCEO) Working Group, Becker Friedman Institute for Research in Economics, University of Chicago. He also previously served as an Advisory Board Member on the World Bank’s Commission on Global Poverty.

 

Jennifer CookeJennifer G. Cooke is director of the Institute for African Studies at The George Washington University Elliott School of International Affairs. The Institute serves as central for research, scholarly discussion, and debate on issues relevant to Africa. She is a professor of practice in international affairs, teaching courses on U.S. Policy Toward Africa and Transnational Security Threats in Africa. Cooke joined George Washington University in August 2018, after 18 years as director of the Africa Program at the Center for Strategic and International Studies (CSIS), where she led research and analysis on political, economic, and security dynamics in Africa. While at CSIS, Cooke directed projects on a wide range of African issues, including on violent extremist organizations in the Sahel and Lake Chad Basin, China’s growing role in Africa, democracy and elections in Nigeria, religion and state authority in Africa, “stress-testing” state stability in Africa, Africa’s changing energy landscape, and more. She is a frequent writer and lecturer on U.S.-Africa policy and has provided briefing, commentary, and testimony to the media, US Congress, AFRICOM leadership and the U.S. military. She has traveled widely in Africa and has been an election observer in Sierra Leone, Ghana, Liberia, Mali, and Nigeria. As a teenager, she lived in Cote d’Ivoire and the Central African Republic. She holds an M.A. in African studies and international economics from the Johns Hopkins University School of Advanced International Studies (SAIS) and a B.A. in government, magna cum laude, from Harvard University.

 

Andrew TiffinAndrew Tiffin is a senior economist at the IMF, working in the regional studies division of the Fund’s African Department. He is also keenly involved in the effort to incorporate artificial intelligence/machine-learning techniques into the standard analytical toolkit of the Fund. Previously, he has worked on Middle Eastern countries, with a particular interest in refugee issues in Jordan and Lebanon, as well as numerous countries in Europe–he was part of the Italy team during the debt crisis of 2012, and part of the Russia team for the global financial crisis of 2008. Raised in Sydney, Andrew is an Australian national. He received his post-graduate training at Princeton University, where he obtained both a Ph.D. in economics and an M.P.A. in international relations. In addition to his work with the Fund, Andrew has held positions at the Reserve Bank of Australia, and with the Australian Government.

 

Louise Fox Louise Fox is an experienced development economist who specializes in strategies for employment creation, opportunity expansion, economic empowerment, and poverty reduction. She has advised governments in the developed and developing world, international organizations, and philanthropic and non-profit organizations on problem diagnosis, strategies for results, and outcome measurement. She held full-time positions at USAID (as Chief Economist) and at the World Bank. She is currently affiliated with the African Growth Initiative at the Brookings Institution and the Blum Center for Developing Economies, University of California, Berkeley. She was previously affiliated with the Overseas Development Institute, where she led a major research project. Louise has published in the areas of inclusive growth, structural transformation, youth employment, the political economy of poverty reduction, gender and women’s economic empowerment, employment, labor markets, and labor regulation, pension reform, reform of child welfare systems, social protection, effective public expenditures in the social sectors, and female-headed households and child welfare. Her most recent book was Youth Employment in Sub-Saharan Africa, published by the World Bank in 2014.

 

Seung Mo Choi is a Senior Economist working on regional surveillance in the IMF’s African Department. He has worked on banking crises, financial market policies, climate change, low-income country issues, and capacity development, including in the IMF’s European Department and in the Institute for Capacity Development. His research has been published in economics and finance journals such as International Economic Review. Prior to joining the IMF, he worked as an Assistant Professor at Washington State University and obtained a Ph.D. in economics from the University of Chicago and a B.A. in economics from Seoul National University.

 

Stephen C. SmithStephen C. Smith is Professor of Economics and International Affairs at George Washington University. In 2018 he was UNICEF Senior Fellow at the UNICEF Office of Research-Innocenti, Florence, Italy. Smith received his Ph.D. in Economics from Cornell University and has been a Fulbright Research Scholar, a Jean Monnet Research Fellow, a Visiting Fellow at the Brookings Institution, a Nonresident Senior Fellow at Brookings, a Fulbright Senior Specialist, a member of the Advisory Council of BRAC USA, and an Associate Editor of the Journal of Economic Behavior and Organization. He has twice served as Director of the Institute for International Economic Policy at GWU. Smith is the co-author with Michael Todaro of Economic Development (12th Edition, Pearson, 2014). He is also author of Ending Global Poverty: A Guide to What Works (paperback edition Palgrave Macmillan, 2009), and co-editor with Jennifer Brinkerhoff and Hildy Teegen of NGOs and the Millennium Development Goals: Citizen Action to Reduce Poverty (Palgrave Macmillan, 2007). He is also author or coauthor of about 45 professional journal articles and many other publications. Smith’s recent research has focused on extreme poverty and strategies and programs to address it; and on the economics of adaptation and resilience to climate change in low-income countries, emphasizing autonomous adaptation by households and communities and its effects, and adaptation financing.

 

Preya SharmaPreya Sharma is a senior economist in the African Department of the IMF where she is Special Assistant to the Director. Her research has focused on structural transformation, the future of work, and digitalization in sub-Saharan Africa, as well as emerging market crises and development. Before joining the IMF she was the Head of Emerging Markets at HM Treasury in the UK. She holds a Masters in Public Administration in International Development from the Harvard Kennedy School and a BSc in Economics from the London School of Economics.

 

Esther Chibesa Picture

Esther Chibesa has 20 years of diverse corporate banking experience, serving in various capacities for Citigroup in Kenya, Uganda, Tanzania and Zambia. In her current role, Esther is driven by Africa’s promise, and seeks to realize the opportunities presented at the intersection of technology, regulatory evolution, and inclusive finance. She leads a team in the visioning and execution of a transaction services strategy that addresses the continent’s ongoing financial services transformation. She leads the execution and deployment of innovative treasury & trade finance solutions for multinational corporations, financial institutions and public sector organizations across Sub-Saharan Africa. In her various roles within the organization, she has championed the development of several groundbreaking solutions such as fully integrated tax & fiscal collections systems, receivables digitization solutions, automated mobile money channels and settlement processes, and enhanced, digitized trade and supply chain solutions. She is a past recipient of the prestigious Top 40 Women under 40 (Business Daily Kenya), past member of the Junior Achievement Zambia Board, is an alum of University of Botswana (First Class Honors), and holds an MBA from Heriot Watt Business School, Edinburgh University.

 

 

6th Annual Washington Area International Trade Symposium (WAITS) Conference

Friday, April 29, 2016

School of Advanced International Studies (SAIS), Johns Hopkins University
Bernstein-Offit Building, Room 500
1717 Massachusetts Ave. NW
Washington D.C. 20036

The Washington Area International Trade Symposium (WAITS) is a forum that highlights trade research at institutions in the Washington D.C. area. Its primary activity is sponsoring an annual research conference where scholars present their latest academic work. Researchers from George Washington University, American University, the Census Bureau, the Federal Reserve Board, Georgetown University, the Inter-American Development Bank, Johns Hopkins University (SAIS), the U.S. International Trade Commission, the University of Maryland, and the World Bank have all participated in the symposium.

Contact iiep@gwu.edu with any questions.

View the Schedule
8:30 – 9:00 AM: Continental Breakfast and Opening Comments
9:00 – 9:45 AM: JaeBin Ahn (International Monetary Fund):
“Reassessing the Productivity Gains from Trade Liberalization”
Discussant: Jennifer Poole (American University)
9:45 – 10:30 AM: Olga Timoshenko (George Washington University):
“Learning, Prices, and Firm Dynamics”
Discussant: Luca David Opromolla (Banco de Portugal, University of Maryland and CEPR)
10:30 – 10:45 AM: Coffee Break
10:45 – 11:30 AM: Mine Senses (Johns Hopkins University):
“Trade Shocks and the Provision of Local Public Goods”
Discussant: Erhan Artuc (World Bank)
11:30 – 12:15 PM: J. Bradford Jensen (Georgetown University, Peterson Institute and NBER):
“The Tradability of Services: Geographic Concentration and Trade Costs”
Discussant: Jose Signoret (US International Trade Commission)
12:15 – 1:00 PM: Lunch Break
1:00 – 2:00 PM: Kadee Russ (University of California-Davis, Council of Economic Advisers and NBER):
“Trade Policy in Practice: The TPP from an Insider’s Perspective”
2:00 – 2:15 PM: Coffee Break
2:15 – 3:00 PM: Maria Tito (Federal Reserve Board):
“Misallocation, Trade, and Productivity: Evidence from Chinese Data”
Discussant: Maggie Chen (George Washington University)
3:00 – 3:45 PM: Chad P. Bown (Peterson Institute and CEPR):
“Global Supply Chains and Trade Policy”
Discussant: Juan Blyde (Inter-American Development Bank)
3:45 – 4:00 PM: Coffee Break
4:00 – 4:45 PM: Claire Brunel (American University):
“Green Innovation and Green Manufacturing: Links Between Environmental Policies, Innovation and Production”
Discussant: Cristina Tello Trillo (Census Bureau)
4:45 – 5:00 PM: Closing Remarks

George Washington University’s Institute for International Economic Policy, housed at the Elliott School of International Affairs, is dedicated to producing and disseminating high-quality non-partisan academic and policy relevant research on international economic policy. Areas of focus include international trade, international finance, and development economics.