23 Items

Blog Post - Views on the Economy and the World

How China Compares Internationally in New GDP Figures

| May 31, 2020

The World Bank on May 19, as it does every six years, released the results of the most recent International Comparison Program (ICP), which measures price levels and GDPs across 176 countries.  The new results are striking.  It is surprising that they have received almost no attention so far, perhaps overshadowed by all things coronavirus.

For the first time, the ICP shows China’s total real income as slightly larger than the US.  It reports that China’s GDP was $19,617 billion in 2017, in Purchasing Power Parity (PPP) terms, while the United States’ GDP stood at $19,519 billion.

Blog Post - Views on the Economy and the World

Addressing Commodity Price Volatility in Algeria & Morocco

| June 11, 2016
I recently visited Algeria and Morocco.  Like so many other developing countries, they are dealing with the sharp decline in global commodity prices that has taken place over the last few years.  In meetings in Algiers and Casablanca, I offered four concrete ideas for policies to help commodity-exporting countries deal with global price volatility.  The four proposals, very briefly, are: (1) hedging with options (as Mexico does), (2) commodity bonds, (3) countercyclical fiscal institutions (like Chile’s), and (4) central bank targeting of a currency-plus-commodity basket.

Blog Post - Views on the Economy and the World

Fiscal Education for the G-7

| May 26, 2016
As the G-7 Leaders gather in Ise-Shima, Japan, on May 26-27, the still fragile global economy is on their minds.  They would like a road map to address stagnant growth. Their approach should be to talk less about currency wars and more about fiscal policy.Fiscal policy vs. monetary policyUnder the conditions that have prevailed in most major countries over the last ten years, we have reason to think that fiscal policy is a more powerful tool for affecting the level of economic activity, as compared to monetary policy.

Blog Post - Technology and Policy

Statement on Agricultural Biotechnology

| Sep. 30, 2015

My work on agricultural biotechnology for Africa dates to the mid-1980s. My first major publication on the subject in 1989 was entitled The Gene Hunters: Biotechnology and the Scramble for Seeds. This was nearly seven years before the first commercial release of the transgenic crops in North America. The focus of my work has been on identifying technologies that could contribute to sustainable development in Africa. I have advocated policies that seek to reduce the negative consequences of new technologies while maximizing their impacts.

Blog Post - Technology and Policy

Doctoral Training in Science and Engineering in Africa

| June 03, 2013

The global community is increasingly facing critical challenges in healthcare, energy, sustainability, and agriculture.  These issues are technologically complex, requiring scientific literacy among politicians, policymakers, and populations in both developed and developing nations.  Moreover, these issues demand innovative discoveries, requiring well-trained engineers to both invent creative and cost-effective solutions as well as inform decisionmakers on relevant technical considerations.

Blog Post - Technology and Policy

Africa's New Science and Innovation Agenda

| May 14, 2013

I am on my way back from the World Economic Forum (WEF) meeting in Cape Town, South Africa. This was a remarkable meeting with an overwhelming intellectual energy. The event was unique in many respects. But foremost, it was anchored by a preliminary meeting of the Grow Africa venture where private enterprises have pledged $3.5 billion in support to African agriculture. This was a serious event that involved heads of state and government from eight African countries. I had the unique opportunity to be part of a small group of people working to connect science and technology with the larger business agenda of WEF.

Blog Post - Technology and Policy

Engineering the Future

| Mar. 18, 2013

The rise of emerging markets is heralded as a force that will change the global balance of power. But behind the rise of the new economies lies a strong commitment to leveraging engineering as a foundation for economic transformation. Engineering provides the basic foundations for economic growth such as energy, transportation, irrigation, and telecommunications. Yet the men and women who build and maintain these systems are hardly recognized. The announcement of the inaugural Queen Elizabeth Prize for Engineering will go a long way toward helping the international community appreciate the role that engineers have played in making modern civilization possible.

Blog Post - Technology and Policy

Africa and Brazil at the Dawn of New Economic Diplomacy

| Feb. 26, 2013

In recent years the major focus of China’s engagement in Africa has been on economic diplomacy. Much of this debate has been influenced by concerns over China’s rise as an economic superpower and the preoccupation with viewing Africa through the jaded natural resource lens. A closer look at Africa’s growing economic diplomacy reveals a more complex picture involving other important emerging market economies as illustrated by economic relations with Brazil. Africa’s relations with Brazil highlight the emergence of BRICS (Brazil, Russia, India, China, and South Africa) as a new economic alliance that is reshaping international trading relations.