The reversal problem: development going backwards

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dc.contributor.authorOlaberria, Eduardo
dc.contributor.authorReinhart, Carmen M.
dc.date.accessioned2023-08-03T17:17:34Z
dc.date.available2023-08-03T17:17:34Z
dc.date.issued2023-08-09
dc.descriptionThe Covid-19 pandemic triggered the most synchronous economic downturn in more than a century. Ninety percent of countries posted a decline in real per-capita GDP in 2020, a share that surpassed any other year since 1900, which includes two world wars and the Great Depression of the 1930s.1 The health crisis pushed an estimated 90 million people into extreme poverty.2 We document that, for emerging and developing economies (EMDEs) as a group, the setback in their development markers did not start with the pandemic. Covid-19 deepened and accelerated a troubling trend of economic backsliding that had appeared around half a decade earlier. We call this the Reversal Problem.es
dc.description.abstractThe Covid-19 pandemic triggered the most synchronous economic downturn in more than a century. Ninety percent of countries posted a decline in real per-capita GDP in 2020, a share that surpassed any other year since 1900, which includes two world wars and the Great Depression of the 1930s.1 The health crisis pushed an estimated 90 million people into extreme poverty.2 We document that, for emerging and developing economies (EMDEs) as a group, the setback in their development markers did not start with the pandemic. Covid-19 deepened and accelerated a troubling trend of economic backsliding that had appeared around half a decade earlier. We call this the Reversal Problem.es
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 301-314
dc.identifier.isbn9789567421718
dc.identifier.isbn9789567421725 (digital)
dc.identifier.issn0717-6686 (Series on Central Banking, Analysis, and Economic Policies)
dc.identifier.urihttps://hdl.handle.net/20.500.12580/7511
dc.language.isoenes
dc.publisherBanco Central de Chilees
dc.relation.ispartofseriesSeries on Central Banking Analysis and Economic Policies; no. 29
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.titleThe reversal problem: development going backwardses
dc.type.docArtículo

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