Income Convergence: A History of Failure?
A popular idea in economics holds that poor countries tend to grow faster than rich countries. Therefore, the world’s economies eventually converge in their income levels. However, historical experiences of convergence have been bitter.
The Andean Development Corporation: a gentle giant
The Andean Development Corporation celebrated its fiftieth anniversary. After the upset caused among several Latin American governments by the appointment of Mauricio Claver-Carone as president of the Inter-American Development Bank, CAF has more reason to celebrate.