Charles Kenny

The Simple Math of Development Finance

A CGD Note. In short: we want lots of investment in developing countries; it has to be financially sustainable; direct private project investment is very expensive, indirect private finance through multilateral development banks is a lot cheaper; so scaling through WB/AfDB/ADB/IADB is the sustainable (affordable) model.

America Shouldn’t Copy China’s Belt and Road Initiative

A co-authored Foreign Affairs piece with Scott Morris. The US should leave infrastructure to the World Bank and 'compete' bilaterally with China on human rather than physical capital.

Can Africa Help Europe Avoid Its Looming Aging Crisis?

A CGD working paper with George Yang.  There will be 95 million fewer working-age people in Europe in 2050 than in 2015, under business as usual. This will cause significant fiscal stress as well as slower economic growth. Potential responses include: (a) raising labor force participation by women and older workers; (b) automation; and (c) outsourcing. But none will be sufficient. This leaves immigration: while migrants create demand for jobs as well as fill them, they can help rebalance the ratio of working to non-working populations. The paper compares business as usual estimates of inflows to 2050 with the size of the labor gap in Europe. Under plausible estimates, business as usual will fill one-third of the labor gap. This suggests a need for an urgent shift if Europe is to avoid an aging crisis. Africa is the obvious source of immigrants, to mutual benefit.  Here's a short video presenting the paper.

A Dark Pandemic Year Could Still Portend a Brighter Future

Maybe... for Foreign Affairs.

Your World, Better

Your World, Better: Global Progress and What You Can Do About It is a book written for the smart and engaged middle school student.  It looks at how America and the World has changed since the reader's parents and grandparents were young: what has happened to health and wealth, homes, school and work, rights and democracy, war and the environment, happiness and depression.   It talks about the things that have gotten better, the sometimes-intensifying challenges that remain, and what readers can do about them. 

Your World Better is optimistic, but it doesn’t shy away from the considerable problems we face: from inequality through discrimination and depression to climate change and infectious threats.  It is meant to encourage kids to help make the world better themselves: tip them from a sense of powerlessness toward action, not into complacency.

The pdf of Your World Better is available to download here for free.  Or you can buy a kindle version for 99 cents or a hard copy for $8.10 on Amazon (or six pounds on UK Amazon here).  Any author royalties from those sales will be donated to UNICEF (so far, a bit more than $800 has been donated, thanks!). I talk about the book to Marian Tupy for the Human Progress podcast and to two (fantastic) middle schoolers for NPR.  Then I did a Slack chat with five middle schoolers for Slate. A CGD discussion about the book and talking to children about progress is here. And here's a fifteen minute video about the book (or try it on Youtube).  I am happy for the *text* (not pictures) to be copied or redistributed in any medium, and/or remixed or transformed for any purpose, with attribution.

"Everyone, no matter how old, or how young, should read this. I’m sending to grandkids and their parents." --Nancy Birdsall

"Great read for middle school kids who want to understand how the world is getting better -- and can become even more so!" --Parag Khanna

"How can you pass up a free book?! And one that is so relevant for today? If you know a middle school student or teacher, pass this along! Incredibly fresh and honest." --Karen Schulte 

"Kids are taught that everything's getting worse and we're all doomed--factually incorrect, and a message that leads to cynicism & fatalism, not constructive action. An antidote: Charles Kenny's new Your World, Better..." --Steven Pinker

 

What Is the Role of Aid in Middle-Income Countries?

A CGD policy paper with Ranil Dissanayake and Mark PlantWe develop screens and principles designed to maximise the impact of aid, especially in richer recipients. All else equal, a dollar spent in the poorest countries will have a larger impact on well-being than a dollar spent in richer countries, so ODA should be concentrated in those countries. But where it is used in middle-income countries, it should be aimed at (i) a major development challenge; (ii) where relatively small amounts of finance can be expected to have a significant return; and (iii) consistent with the political economy of the recipient country or that is likely to induce a shift in the political economy. That implies aid should focus on severe challenges faced by geographic or demographic sub-groups; using a range of tools beyond grants; with the goal of bringing forward, rather than replacing, state capacity; and using multilateral approaches wherever possible. An examination of aid practice suggests it is considerably at odds with what this approach would suggest.

The U.S. has always been — and always will be — a nation of nations

On the fact we're a nation of immigrants worried about immigration.  In the Dallas Morning News.

A Manifesto for Globalization

A CGD note in part based on this.

Nationalism Can’t Beat a Global Problem

For slate: America First can't beat a pandemic.

How America Leads Abroad: An Examination of Multilateral Development Institutions

I gave testimony to the House Committee on Financial Services Subcommittee on National Security, International Development, and Monetary Policy (video here).  I said the IBRD should get its capital increase, and the IFC should get its capital increase if it reforms.