Back

Macroeconomic Policies in times of COVID-19 in Emerging Markets: Early Lessons

December 9, 2020
Related topics: 
Economy
Macroeconomics and regulation

Moderator: Andrés Schipani, East and Central Africa Correspondent, Financial Times Speakers: - Otaviano Canuto, Senior Fellow, Policy Center for the New South - Karim El Aynaoui, President, Policy Center for the New South, Dean, Faculty of Governance, Economics and Social Sciences, Mohammed VI Polytechnic University - Célestin Monga, Professor of Public Policy, Harvard Kennedy School

Speakers
Karim El Aynaoui
Executive President
Karim El Aynaoui is Executive President of the Policy Center for the New South. He is also Executive Vice-President of Mohammed VI Polytechnic University and Dean of its Humanities, Economics and Social Sciences Cluster.   Karim El Aynaoui is an economist. From 2005 to 2012, he worked at the Central Bank of Morocco where he held the position of Director of Economics, Statistics, and International Relations. At the Central Bank of Morocco, he was in charge of the Research Department and equally a member of the Governor’s Cabinet. Previously, he worked for eight years at the World Bank as an Economist for its regional units of the Middle East and North Africa and Africa.   Karim El Aynaoui has published books and journal articles on macroeconomic issues in developing countr ...
Otaviano Canuto
Senior Fellow
Senior Fellow at the Policy Center for the New South, Affiliate Professor at Mohammed VI Polytechnic University and Non-Resident Senior Fellow at Brookings Institute. Former Vice President and Executive Director at the World Bank, Executive Director at the International Monetary Fund (IMF) and Vice President at the Inter-American Development Bank. ...

RELATED CONTENT

  • Embarking on a Path of Renewal: MENA Commission on Stabilization and Growth
    Authors
    Nesreen Barakat
    Leila Baghdadi
    Ishac Diwan
    Karim El Aynaoui
    Ibrahim Elbadawi
    Alia El Mahdi
    Nada Eissa
    Mahmoud Mohieldin
    Mustapha Nabli
    Omar Razzaz
    Maha Yahya
    Co-directed by Ishac Diwan and Ibrahim Elbadawi
    October 31, 2022
    In the chaotic global post-COVID-19 economy, with the ongoing war in Ukraine, the challenge of adjusting to the global stagflation that is engulfing the world is particularly hard for the oil importing countries of the Middle East and North Africa (MENA) region. A regional commission of experts, working under the auspices of the Economic Research Forum (ERF), and the Finance for Development Lab (FDL), was asked to evaluate the macro-economic risks ahead, and to make recommendations ...
  • Will Latin America Return to Mediocre Growth After Shocks?
    Authors
    Otaviano Canuto
    October 24, 2022
    The pandemic has hit Latin America hard, and its economic recovery has been slower than in other regions. In addition to the legacy of higher public indebtedness, the pandemic left scars on the labor market and the human capital formation of future workers. The COVID-19 crisis has receded in Latin America but has left a significant toll. Reported deaths from the pandemic are currently low and converging to global levels. The average excess mortality during the pandemic was among t ...
  • Download PDF
    Le prix Nobel 2022 d'économie distingue les travaux de Ben S. BernanKe, Douglas W. Diamond, et Philip H. Dybvig sur le rôle des banques dans les crises
    Authors
    Henri-Louis Vedie
    October 14, 2022
    En attribuant le prix Nobel d'économie 2022 à Ben S. Bernanke, Douglas W. Diamond et Philip H. Dybvig, le jury Nobel a voulu distinguer des travaux, remontant aux années 1980, qui permettent de mieux comprendre l'implication des banques dans les crises. Travaux pionniers, également, dans l'élaboration d'une théorie bancaire, où l'analyse historique est présente avec Ben S. Bernanke qui a longuement étudié le rôle des banques dans la crise de 1929, afin de ne pas renouveler les erreu ...
  • Download PDF
    Whither the Phillips Curve?
    Authors
    Otaviano Canuto
    October 12, 2022
    There is an international movement to tighten monetary and fiscal policies as a response to the global inflation phenomenon. Accordingly, global economic growth projections for 2022 and 2023 have been revised downward. As inflation will decline only gradually, given the price stickiness of its core components, there is likely to be momentarily a situation of stagflation, i.e. a combination of significant inflation and low or negative GDP growth. We discuss how the current global s ...
  • Download PDF
    Pandemic, War, and Global Value Chains
    Authors
    Abdelaaziz Ait Ali
    Mahmoud Arbouch
    Otaviano Canuto
    October 7, 2022
    “The debate on the viability of industrial policy design based on the fragmentation of global value chains, from a cost optimization perspective, did not arise first in the wake of the Covid-19 crisis but was present long before. This industrial policy design was justified by the great development of logistics and transport across the world’s industrial clusters, which allowed just-in-time manufacturing to become the main adopted production model. However, the disruption of logistic ...
  • Rapport annuel sur l’économie de l’Afrique
    Authors
    Sous la direction de Larabi Jaïdi
    Larabi Jaïdi
    Abdelaaziz Ait Ali
    Nezha Alaoui M’hammdi
    Muhammad Ba
    Rim Berahab
    Oumayma Bourhriba
    Marouane Ikira
    Pierre Jacquemot
    Brian Kelly Nyaga
    Leo Kemboi
    Moubarack Lo
    Mouhamadou Ly
    Badr Mandri
    Fatima Ezzahra Mengoub
    Solomon Muqay
    Dennis Njau
    Meriem Oudmane
    Ahmed Ouhnini
    Kwame Owino
    Faith Pittet
    Hamza Saoudi
    Amaye Sy
    Akram Zaoui
    September 29, 2022
    La succession des chocs pandémique, climatique et géopolitique a éprouvé les économies africaines. Les liens commerciaux et financiers avec le monde ne sont plus seulement considérés comme des moteurs de performance, mais aussi comme des sources potentielles de vulnérabilité. La défiance à l’égard de la mondialisation s’est accrue. Parce qu’elle est venue souligner la dépendance du continent, le dérèglement de ses rapports à la nature et sa vulnérabilité face aux tensions géopolitiq ...
  • Download PDF
    Whither China’s Economic Growth
    Authors
    Otaviano Canuto
    August 24, 2022
    Chinese economic figures released since August’s beginning have shown a slowdown in its growth. New Omicron coronavirus outbreaks in the context of the Covid-zero policy, the housing slump and heat waves have been, decelerating the economy’s pace. China’s current growth slowdown is an additional step in the trajectory of gradually declining rates that has accompanied the “great rebalancing” since the beginning of the 2010s. One significant difference now is the perception of exhaust ...