Rudi Dornbusch

The bad news keep coming in Latin America these days. Economic conditions worsen almost everywhere, social cohesion unravels and political instability mounts. Little wonder, since much of Latin America spent the last twenty years going nowhere. Assets were sold and national debts ballooned, but...

Revision is in the air about America’s economic miracle. Not only did America’s bubble crash, but also it now appears that much of the US economic miracle of the 1990s never happened. When it comes to performance, Europe is king, not the US. A study of the sources of economic growth by the OECD...

If America’s economy goes into a tailspin in the wake of the terrorist attacks in Washington and New York, the world economy would move into perilous territory. That risk is real, because America can only go one of two ways: up or down. Sufficient confidence no longer exists to keep drifting...

Bad news is all the IMF has been getting in the last year. First came a divisive fight over naming a new Managing Director: Germany pushed a little known and unqualified bureaucrat and failed to have him accepted. In the end, Chancellor Schroder was given a fig leaf to hide his embarrassment in the...

According to research on the status of small business in Ukraine carried out by the International Financial Corporation, in 1999 an average of eleven calendar days were necessary in order to get licenses and 18 days (the law says five) for registration. In order to register independently, the...