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Maloney, William

Office of the Chief Economist Latin America and the Caribbean Region
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Innovation, Labor Economics, Trade, Productivity, Private Sector Development, Financial Sector, Spatial economics
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Office of the Chief Economist Latin America and the Caribbean Region
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Last updated: October 3, 2023
Biography
William F. Maloney is Chief Economist for the Latin America and Caribbean (LAC) region. Mr. Maloney, a U.S. national, joined the Bank in 1998 as Senior Economist for the Latin America and Caribbean Region. He held various positions including Lead Economist in the Office of the Chief Economist for Latin America, Lead Economist in the Development Economics Research Group, Chief Economist for Trade and Competitiveness and Global Lead on Innovation and Productivity. He was most recently Chief Economist for Equitable Growth, Finance and Institutions (EFI) Vice Presidency. From 2011 to 2014 he was Visiting Professor at the University of the Andes and worked closely with the Colombian government on innovation and firm upgrading issues. Mr. Maloney received his PhD in Economics from the University of California Berkeley (1990), his BA from Harvard University (1981), and studied at the University of the Andes in Bogota, Colombia (1982-83). His research activities and publications have focused on issues related to international trade and finance, developing country labor markets, and innovation and growth, including several flagship publications about Latin America and the Caribbean.He has published in academic journals on issues related to international trade and finance, developing country labor markets, and innovation and growth as well as several flagship publications of the Latin American division of the Bank, including Informality: Exit and Exclusion;  Natural Resources: Neither Curse nor Destiny and Lessons from NAFTA, Does What you Export Matter: In Search of Empirical Guidance for Industrial Policy. Most recently, he published The innovation paradox: Developing Country Capabilities the Unrealized Potential of Technological Catch-Up and Harvesting Prosperity: Technology and Productivity Growth in Agriculture as part of the World Bank Productivity Project.  
Citations 202 Scopus

Publication Search Results

Now showing 1 - 5 of 5
  • Publication
    Spatial Dimensions of Trade Liberalization and Economic Convergence: Mexico 1985-2002
    (World Bank, Washington, DC, 2005-10) Aroca, Patricio; Bosch, Mariano; Maloney, William F.
    This paper studies the spatial dimension of growth in Mexico over the past three decades. The literature on regional economic growth shows a decrease in regional dispersion from 1970 to 1985, and a sharp increase afterward coinciding with the trade liberalization of the Mexican economy. Using spatial econometric, tools the authors analyze how the process of convergence/divergence has mapped spatially and whether it makes sense to talk about spatial regions in Mexico. Although the rich North-poor South dichotomy has dominated this phenomenon, interesting patterns emerge. Namely the distribution of growth after Mexico's post-liberalization seems to be much less associated with distance to the United States than the authors had initially expected.
  • Publication
    The Distribution of Income Shocks during Crises : An Application of Quantile Analysis to Mexico, 1992-95
    (Washington, DC: World Bank, 2004-05) Maloney, William F.; Cunningham, Wendy V.
    Moving beyond the simple comparisons of averages typical of most analyses of household income shocks, this article employs quantile analysis to generate a complete distribution of such shocks by type of household during the 1995 crisis in Mexico. It compares the distributions across normal and crisis periods to see whether observed differences were due to the crisis or are intrinsic to the household types. Alternatively, it asks whether the distribution of shocks during normal periods was a reasonable predictor of vulnerability to income shocks during crises. It finds large differences in the distribution of shocks by household types both before and during the crisis but little change in their relative positions during the crisis. The impact appears to have been spread fairly evenly. Households headed by people with less education (poor), single mothers, or people working in the informal sector do not appear to experience disproportionate income drops either in normal times or during crises.
  • Publication
    Spatial Dimensions of Trade Liberalization and Economic Convergence : Mexico 1985-2002
    (Oxford University Press on behalf of the World Bank, 2005-09-01) Aroca, Patricio; Bosch, Mariano; Maloney, William F.
    This article employs established techniques from the spatial economics literature to identify regional patterns of income and growth in Mexico and to examine how they have changed over the period spanned by trade liberalization and how they may be linked to the income divergence observed following liberalization. The article first shows that divergence has emerged in the form of several income clusters that only partially correspond to traditional geographic regions. Next, when regions are defined by spatial correlation in incomes, a south clearly exists, but the north seems to be restricted to the states directly on the United States (U.S.) border and there is no center region. Overall, the principal dynamic of both the increased spatial dependency and the increased divergence lies not on the border but in the sustained underperformance of the southern states, starting before the North American free-trade agreement, and to a lesser extent in the superior performance of an emerging convergence club in the north-center of the country.
  • Publication
    Pending Issues in Protection, Productivity Growth, and Poverty Reduction
    (World Bank, Washington, DC, 2005-12) Arias, Omar; Blom, Andreas; Bosch, Mariano; Cunningham, Wendy; Fiszbein, Ariel; Lopez Acevedo, Gladys; Maloney, William; Saavedra, Jaime; Sanchez-Paramo, Carolina; Santamaria, Mauricio; Siga, Lucas
    This paper selectively synthesizes much of the research on Latin American and Caribbean labor markets in recent years. Several themes emerge that are particularly relevant to ongoing policy dialogues. First, labor legislation matters, but markets may be less segmented than previously thought. The impetus to voluntary informality, which appears to be a substantial fraction of the sector, implies that the design of social safety nets and labor legislation needs to take a more integrated view of the labor market, taking into account the cost-benefit analysis workers and firms make about whether to interact with formal institutions. Second, the impact of labor market institutions on productivity growth has probably been underemphasized. Draconian firing restrictions increase litigation and uncertainty surrounding worker separations, reduce turnover and job creation, and poorly protect workers. But theory and anecdotal evidence also suggest that they, and other related state or union induced rigidities, may have an even greater disincentive effect on technological adoption, which accounts for half of economic growth. Finally, institutions can affect poverty and equity, although the effects seem generally small and channels are not always clear. Overall, the present constellation of labor regulations serves workers and firms poorly and both could benefit from substantial reform.
  • Publication
    Patenting and Research and Development : A Global View
    (World Bank, Washington, DC, 2005-10) Bosch, Mariano; Lederman, Daniel; Maloney, William F.
    Using a new global data base on patents and innovation inputs, the authors examine the process of knowledge creation measured by the dynamic relationship between research and development and U.S. patents granted. They confirm at the country level the recurrent micro-level finding of a strong relationship between the two and estimate the OECD elasticity to be effectively equal to one. This conflicts with the frequent micro-level finding of strongly diminishing returns in knowledge generation and suggests the importance of knowledge spillover effects measurable only at the aggregate level. Developing countries, however, do show diminishing returns. The authors then explain the differences in spillovers between the OECD and developing countries by testing for the impact of measures of the functioning of the national innovation system-the set of institutions and agents that create and disseminate knowledge. Across the entire sample education, security of intellectual property rights, and in some specifications, the quality of research institutions and their interaction with the private sector, affect the transformation of research and development into patents.