Otaviano Canuto | Policy Center

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Otaviano Canuto

Senior Fellow

Senior Fellow at the Policy Center for the New South, principal at Center for Macroeconomics and Development and non-resident 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. He was also Deputy Minister for international affairs at Brazil’s Ministry of Finance, as well as professor of economics at University of São Paulo (USP) and University of Campinas (UNICAMP).

Publications

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Opinion
An “Unthinkable” U.S. Public Debt Default
Otaviano Canuto
Friday, May 19, 2023
Earlier this month, U.S. Treasury Secretary Janet Yellen told congressional leaders that the government could run out of cash as early as June 1, if the debt ceiling is not raised in time. In January, the Treasury reached the current legally established ceiling in nominal terms ($31.46 trillion).…
Related Topics:
Economy, Macroeconomics and regulation, Americas and Carribean, North America
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Research Paper
Unpacking the Relationship between Crude Oil Financialization and Volatility: The Tale of Speculative Positions
Emran Sabrine

Otaviano Canuto
Friday, April 28, 2023
This paper explores the impact of commodities financialization on crude oil prices and their volatility. While some commodities have been market movers for centuries, introducing others, such as oil, to the financial markets is more recent. The increase in investors' appetite for commodity…
Related Topics:
Commodities & Energy, Natural Resources, North America, Economy
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Policy Brief
The U.S. dollar’s “exorbitant privilege” remains
Otaviano Canuto
Thursday, April 27, 2023
Recent initiatives and policy moves by China and other countries to extend the reach of use of the renminbi in the international monetary system, while the U.S. dollar share in global reserves has slightly shrunk in relative terms, have sparked frequent discussions about a hypothetical “de-…
Related Topics:
Economy, Macroeconomics and regulation, Sectorial policies and structural transformation, International Relations
Opinion
The global economy faces a lost decade
Otaviano Canuto
Tuesday, April 4, 2023
In 2010, when I was one of the vice presidents at the World Bank, colleagues I and published a very upbeat book about the possibility of emerging and developing economies replacing advanced countries as engines of global economic growth. While the latter would be grappling with the aftermath of…
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Economy, Macroeconomics and regulation, International Organisations, Trade
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Policy Brief
Gender inequality in the labor market: the case of Morocco
Otaviano Canuto

Hajar Kabbach
Thursday, March 9, 2023
Gender disparities in the labor market persist as a serious challenge, resulting in lower participation rates for women than men. This gender gap in labor force participation varies considerably across regions, with female participation rates consistently lagging men. After some progress during…
Related Topics:
Gender, Society, Economy, Inequality, Africa
Opinion
The Amazon Needs the Rule of Law, Not the Rule of Chainsaw
Otaviano Canuto
Tuesday, March 7, 2023
In April 2007, on my first day as vice president at the Inter-American Development Bank (IDB) in Washington D.C., I received an informal visit from Thomas E. Lovejoy, a celebrated American environmental scientist who died last year. He spoke to me of a “turning point” in deforestation in the Amazon…
Related Topics:
Economy, Commodities & Energy, Climate change and biodiversity, Natural Resources, South America
Opinion
The Impacts of China’s Economic Reopening on Latin America
Otaviano Canuto
Wednesday, February 15, 2023
China’s rate of economic growth has slowed. Chinese GDP ended 2022 up 3%, but this was the lowest growth rate in the last 40 years, except for 2020, the first year of the pandemic. In addition to problems in its real-estate sector, China’s severe ‘COVID zero’ confinement policy is one of the causes…
Related Topics:
Economy, South America, Americas and Carribean, Asia
Opinion
The parrot says that commodity prices will rise
Otaviano Canuto
Friday, February 3, 2023
As the introductory textbook to economics by Nobel Prize Paul Samuelson, who served several generations of students, including mine, said: “It is easy to teach economics to a parrot. Two words are enough: supply and demand”. These two factors suggest 2023 will be a year of upward trend for most…
Related Topics:
Economy, Commodities & Energy, Natural Resources
Paper in Academic Journals
How to Measure the Digital Economy in 5G Technologies and Digital Silk Road Era
Davit Gondauri

Nino Enukidze

Otaviano Canuto

Mikheil Batiashvili
Tuesday, January 31, 2023
This publication was originally published in https://ijisrt.com/assets/upload/files/IJISRT23JAN789.pdf The current transformation of the society under the influence of digital technologies has no historical analogue in terms of its spread and the pace of development. The future will heavily…
Related Topics:
Economy, Sectorial policies and structural transformation
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Policy Paper
Capital flows and emerging market economies since the global financial crisis
Otaviano Canuto
Friday, January 20, 2023
This paper was originally published as a chapter within the Book, Foreign Exchange Constraint and Developing Economies, published on January 2023 (ISBN 978 1 80088 049 8). The decade after the global financial crisis (GFC) of 2007–2009 saw signifi- cant changes in the volume and composition of…
Related Topics:
Economy, Macroeconomics and regulation, Sectorial policies and structural transformation

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