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Trumping the NAFTA renegotiation An alternative policy framework for Mexican-United States cooperation and economic convergence

1 November 2017 | Publication

The effects of globalization and regional integration have not worked well for many Americans and Mexicans. The objective of this document is to assess the proposals of the Trump administration for revising NAFTA, the responses of the Mexican government, and progressive alternatives to both. Therefore, this paper will address what kind of economic policies are needed to achieve more inclusive and sustainable growth in both Mexico and the United States, given their current degree of integration and the changing character of global production and technology.…

An analysis of the contribution of public expenditure to economic growth and fiscal multipliers in Mexico, Central America and the Dominican Republic, 1990-2015

1 August 2017 | Publication

In this research, different complementary approaches are developed to determine the impact of public expenditure on economic growth in Mexico, Central America and the Dominican Republic. The evolution of the countries’ fiscal performance is analyzed; the strong link between public spending and economic growth is verified; the long-run relationship between current and capital expenditure with GDP growth is identified, and it is shown that public spending has a significant multiplier effect in the short and long-term, highlighting its persistence over time.…

Strengthening value chains: A toolkit

1 December 2016 | Publication

The main objective of this toolkit is to exhibit and disseminate the methodology for strengthening value chains developed by the Subregional Headquarters in Mexico of the Economic Commission for Latin America and the Caribbean (ECLAC). This document lays out the concepts, processes and good practices that have been derived from implementing such a strategy. It is intended to be a useful tool for public sector decision makers, officials of international bodies and those studying the topic, who are interested in a systematised and proven methodology. This manual was prepared in response to forma…

Strengthening the relationship between India and Latin America and the Caribbean

1 November 2016 | Publication

The economic relationship between India and Latin America and the Caribbean is at an emerging stage, with significant room for growth in terms of international trade, foreign direct investment (FDI) and cooperation between these two important regions. This publications presents several economic, social and trade indicators related to both regions.…

Economic and Social Upgrading: Definitions, connections and exploring means of measurement

1 May 2016 | Publication

This paper reviews and synthesizes the literature on social upgrading, while exploring its connections with economic upgrading. Using the parsimonious method proposed by Bernhardt and Milberg and an alternative method that takes into account increases in national productivity, this paper analyzes the case of Mexico. Though the proposed approach to social upgrading can be made more sophisticated through the inclusion of more variables, in order to facilitate the replication of the analysis in developing countries where data are scarce, labor productivity, wages and employment were considered su…

Determinants and home-country effects of FDI outflows: Evidence from Latin American countries

1 November 2015 | Publication

Foreign direct investment (FDI) by Latin American companies has increased sharply since the beginning of the 2000s. While most investment flows correspond to firms from large economies (i.e. Argentina, Brazil, Chile, Mexico and Colombia), small economies have also witnessed the increasing internationalisation of their domestic companies. This study examines the strategies followed by multinational enterprises (MNEs) from Latin America when they decide to invest in other countries, highlighting differences by sector and issuer-country size. To that end a new database, which comprises quantitati…

The Economics of Climate Change in Central America: Summary 2012

1 October 2015 | Publication

This report was published with the goal of discussing, disseminating and using the results of this initiative in the formulation of national and regional strategies and have been presented at national and regional events with civil servants, representatives of non-governmental organizations, trade unions, the private sector, universities and research centers. The results have served as inputs in the training of national committees on climate change and negotiating teams, as well as in the preparation of the Regional Climate Change Strategy, several international financing projects and various …

Is price dispersion always an indication of price discrimination?

1 January 2015 | Publication

It has been established for a long time that there is significant dispersion in prices charged for seemingly homogeneous goods. This may happen in competitive markets because the world is not frictionless, and certainly in other markets where price discrimination is carried out by firms with oligopolistic power. This paper is the first survey of the economic literature on price dispersion that addresses the following three key issues: i) its characteristics as a result of optimizing search behavior; ii) its relevance as a reflection of price discrimination and its consequences for social welfa…

The use of key indicators to assess Latin America’s long-term economic performance

1 December 2014 | Publication

Through the astute analysis of official statistics, we can gather a more complete picture of the economic performance of a given country, and understand more fully what have been its drivers, leading to a more effective use of national resources and a more efficient design of policy options. However, the myriad of information and numerical data across the system of macroeconomic statistics can be challenging to interpret in a straightforward manner. In order to synthetically assess economic performance across countries in Latin America we propose the use of a composite indicator, which builds …

Prevention of Money Laundering and of the Financing of Terrorism to Ensure the Integrity of Financial Markets in Latin America and the Caribbean

1 November 2014 | Publication

This paper reviews the current status of the international fight against money laundering and the financing of terrorism, highlighting the importance of its prevention for economic and financial stability in Latin America and the Caribbean. It synthesizes the recent history of international legislation and agreements with respect to the issues, and presents the framework of public and private sector actors engaged in combating these threats. It reviews Latin American and Caribbean countries’ compliance with the Financial Action Task Force (FATF) (40 + 9) Recommendations, and analyzes the regio…

Upgrading value chains through professional and supporting services: Lessons from three agro-industry chains in El Salvador and Guatemala

1 July 2014 | Publication

There is an increasing acknowledgement of the key role of services for technological upgrading and increasing value added in manufacturing and primary goods value chains. Over the past two decades, Central American countries have experienced significant export growth. Yet exports have not been an engine of sustained economic growth and employment generation. Agro-industry exports, in particular, frequently incorporate only scant domestic value, with limited or no industrial transformation at all. This paper aims at studying the role of professional and supporting services in increasing domesti…

Energy Efficiency in Central America: Progress and action towards the fulfillment of the goals of the Central American sustainable energy strategy

1 January 2014 | Publication

In 2007, the governments of Central America approved the Central American Sustainable Energy Strategy 2020, with the support of CEPAL. The strategy is focused on promoting sustainable development of the regional energy sector. The Energy Strategy 2020 contains four goals linked to EE (energy efficiency in lighting, refrigerators and industrial electric motors; reduction of electricity losses in transmission and distribution; reduction of consumption of oil derivatives in public and private transport sectors; and promotion of sustainable, efficient and clean firewood stoves in rural areas). Thi…

Strengthening value chains as an industrial policy instrument. Methodology and experience of ECLAC in Central America

1 January 2014 | Publication

In recent years, ECLAC has received official requests from governments in the region for technical assistance for designing and implementing industrial policies. In response, the Commission has developed and applied a methodology based on value chains, which has enabled it to identify targeted intervention strategies, with clear, coordinated lines of action. Value chains can be strengthened by supporting all their stakeholders, especially small producers, which in turn helps to close structural gaps. In 2013, ECLAC worked jointly with governments and the private sector in Central America to st…

Belize: effects of climate change on agriculture

11 February 2013 | Publication

Climate change poses a serious threat to Central American societies due to its foreseeable and multiple impacts on the population and productive sectors. In fiscal terms it constitutes a contingent public liability that will affect the public finance of governments for generations to come. It is estimated that by 2030, Central America will still produce less than 0.5% of greenhouse gas (GHG) emissions on the planet, yet it is already one of the regions most vulnerable to the battering of climate change. The increase in atmospheric and sea temperatures, the reduction and instability of rain …

Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance

1 February 2013 | Publication

In this paper we explore trade finance as a transmission channel of adverse shocks to Central America. We analyze data on trade and trade finance flows, and show that they largely follow the same pattern in the region. A contraction of trade finance supply to Central America will affect trade exports negatively, and consequently impact economic growth and jobs. While until now the region has weathered the financial and European debt crises relatively well, shocks may come from a further contraction of lending in developed countries. The lending contraction can arise from losses from the recent…

Structural determinants of tax revenue in Latin America and the Caribbean, 1990-2009

4 December 2012 | Publication

In recent years many studies have been conducted worldwide in order to investigate the structural or long-term determinants of tax revenue (see inter alia Gupta, 2007; Mahdavi, 2007; Profeta and Scabrosetti, 2010). The aim of this study is to extend the empirical literature on this issue by applying standard models to the case of Latin America and the Caribbean. Through panel econometric methodologies, the paper assesses the statistical significance of a number of potential determinants of tax revenue as a share of GDP, using data from 32 Latin American countries over the period 1990-2009. The…

Relations between CARICOM and Central America and the Dominican Republic: a window of opportunity for trade and investment

1 May 2012 | Publication

This publication represents a contribution by the Economic Commission for Latin America and the Caribbean (ECLAC) and the Organization of American States (OAS) to an analysis of the potential and the opportunities for trade, investment, and strategic partnerships between Central America, the Dominican Republic, and the Caribbean. The study covers the 14 countries of CARICOM: Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago. It also analyzes the c…

The Mexican film industry and its participation in the global value chain

1 October 2011 | Publication

In Mexico, the service sector has become increasingly important both for gross national product and exports, and the film industry seems to be a relevant sector to explore in the effort to diversify export niches. This sector has a long and varied history, having become very prominent during certain periods (the Golden Age of the 1940s and 1950s) and less so in others, because of the various problems faced (for example between 1995 and 2005). The strengths and weaknesses experienced by the film industry throughout its existence can serve to orient future public policies. Mexico has important p…

Transnational innovation systems

1 October 2011 | Publication

This paper discusses the concept of transnational innovation systems (TNIS) and presents some experiences in Europe in the formation of TNIS. The real cases show that supporting the emergence of Transnational Innovation Systems has clear benefits for the countries and the regions involved which may be related to the enlargement of consumer, labour and factor markets, enhanced competition, extended division of labour and increased specialization (Lundquist and Trippl, 2011: 3). Regional integration across borders can therefore be of high importance for small and emerging economies, where resour…

Understanding the business cycle in Latin America: Prebisch's contributions

1 May 2011 | Publication

This paper analyzes Raúl Prebisch's less familiar contributions to economic theory, related to the business cycle, and heavily informed by the Argentinean experience. His views of the cycle emphasize the common nature of the cycle in the center and the Latin American periphery as one unified phenomenon. While his rejection of orthodoxy is less than complete, some elements of what would become a more Keynesian position are developed. In particular, a preoccupation with the management of the balance of payments and the need for capital controls as a macroeconomic management tool, considerab…

82 search results. Displaying 20 per page.