Brazil's electoral outlook and the external backdrop were the main drivers of Latin American credits in the third quarter of 2002, thus the performance of Latin American markets continued to be pressured by Brazil's fate and the ebb and flow of investors' risk appetite. The region had a rare month of outperformance in August, as the prompt negotiation of an IMF agreement for Brazil and the moderation of global risk aversion brought strong returns for Brazil, in particular, and for countries considered high-risks in general. However, risk aversion peaked again in September, retur…
In the third quarter of 2003, investors continued to favor riskier assets buoyed by abundant global liquidity, low interest rates in mature markets, strong economic growth (with low inflation), and improving credit quality. Credit spreads in emerging and Latin American markets narrowed in response, by 41 and 56 basis points, respectively, and are near historical lows in most emerging market countries. The EMBI+ index is well below its long run average, according to J.P Morgan. Issuers in emerging markets and Latin America benefited from the decline in spreads, as well as from the greater inter…
Resumen
En esta publicación se examinan los datos sobre la inmigración en Chile a partir del XVII Censo Nacional de Población y VI de Vivienda realizado en 2002, incluyendo el procesamiento de los microdatos de la base de datos. Es un momento muy especial para muchos sectores interesados en la temática en Chile, por cuanto el fenómeno ha sido motivo de crecientes inquietudes y, en ocasiones, de debates, debido a que durante los años noventa se registró un aumento de la inmigración de origen principalmente limítrofe, como lo indicaban, de modo preliminar, el incremento de concesiones de residen…
The Economic Commission for Latin America and the Caribbean (ECLAC), Subregional Headquarters for the Caribbean and Secretariat to the Caribbean Development and Cooperation Committee (CDCC), is pleased to present the seventeenth volume of the Selected Statistical Indicators of Caribbean Countries (SSI). This publication represents a compilation of original nationally produced and officially published statistics on select indicators for the year 2003. Where available, 2004 and 2005 figures have been included. The aim of the SSI is to serve as a single source of Caribbean statistics on national…
Describes the Caribbean Trade Statistics Database, explaining the reasons for its creation. Identifies its functions and capabilities. Outlines the process of design, listing the design considerations. Provides detailed instructions for navigation of the system. Presents an overview of the current content of the database. Provides a reference guide of terms used in the analysis of trade indicators.…
La presente edición del Estudio económico de América Latina y el Caribe, publicación anual que aparece cada año desde 1948, consta de tres partes y dos anexos estadísticos. En la primera parte se examinan los principales aspectos de la economía regional desde una perspectiva sectorial y temática. El primer capítulo, dedicado a la situación en el primer semestre de 2003 y a las perspectivas para el conjunto del año, constituye una versión corregida de la ya publicada con el título Situación y perspectivas 2003. En el segundo capítulo se analiza la evolución de la economía regional en 2002 …
The paper highlights the importance of good economic and social data to measure the change in the economy and the society in the light of external stimuli. It also highlights the need for governments to base policy decisions on good data. The paper discusses the issues of design and coordination of data collection mechanisms in a manner that optimizes the limited resources available for data collection and ensures that the data collected fit into an information mosaic that enables planning. To the extent that knowledge of self is the first step towards self-actualization, the success of any s…
In the first half of 2003, emerging debt markets rallied, as disillusionment with equities, geopolitical concerns, and doubts about growth prospects led investors to shift from equities in favor of fixed incomes securities. As equity prices in the United States struggled early in the year, and the price of U.S. Treasuries rose to a 40-year high, attention was drawn to emerging market assets. Emerging debt markets were driven by liquidity, rising risk tolerance, a search for yield and a wider investor acceptance of the asset class. As a consequence, credit spreads on emerging market bonds narr…
In the second quarter of 2002, conditions in global financial markets worsened as investor confidence deteriorated and risk aversion heightened. The revelation of corporate accounting irregularities in mature markets negatively affected investors' sentiment, causing a rebalance of portfolios in favor of higher quality assets and away from equities and low-grade bonds. Countries seen as higher risk were adversely affected by this rebalancing of portfolios. A number of Latin American countries were the focus of investors' concerns, in particular Brazil, where developments during the se…
With the first signals of a global economic recovery, prospects for private capital flows to emerging markets improved in the first quarter of 2002. Despite the concerns over corporate accounting practices in the U.S. and the deepening of the economic and financial crisis in Argentina, emerging equity and bond markets have outperformed those in industrialized countries. Emerging market equities and bonds in the first quarter of the year continued to show the strong performance that started in the fourth quarter of last year. The overall JP Morgan Chase EMBI+ excluding Argentina rose about 20%…
El presente trabajo se enfoca a determinar la incidencia que han tenido en el sector agrícola los cambios en el estilo de desarrollo experimentados por los países del Istmo Centroamericano en los últimos años, los cuales han introducido reformas en el manejo de sus economías a raíz de la apertura, la desregulación y la liberalización de los mercados. Con relación a la sustentabilidad de la agricultura en la región, la producción de granos básicos desempeña un papel preponderante en la actividad económica de elevados porcentajes de la población rural, así como en la generación de empleo …
The emerging markets debt class entered 2003 in sound shape. Similar to 2002, emerging markets debt finished the first quarter of 2003 as the top performer over all other fixed income asset classes, as well as equity markets. The downside risks for the global recovery, uncertainty about the length of the war with Iraq, and the deteriorating economic outlook in the US and Europe actually contributed to highlight the benefits of diversification into emerging markets. The flow of funds into emerging debt markets was a major factor pushing spreads down during the quarter. These inflows were drive…
The Second meeting of the Statistical Conference of the Americas (SCA) will be held at the headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC), from the 18 to 20 June 2003 in Santiago, Chile. Representatives from most member countries belonging to this United Nations body will discuss promoting and developing statistics throughout the region.
ECLAC's Executive Secretary, José Antonio Ocampo will preside at the opening ceremony, along with the Statistical Conference of the Americas' Executive Committee President, Eduardo Pe…
Entre el 18 y 20 de junio de 2003 se efectuará en la sede de la Comisión Económica para América Latina y el Caribe (CEPAL), en Santiago, Chile, la Segunda Reunión de la Conferencia Estadística de las Américas, en donde representantes de la mayoría de los países miembros de este organismo de las Naciones Unidas discutirán sobre la promoción y el desarrollo de las estadísticas a nivel regional.
La ceremonia inaugural estará presidida por el Secretario Ejecutivo de la CEPAL, José Antonio Ocampo, y por el Presidente del Comité Ejecutivo de la Conferencia Estadística …
La CEPAL en su calidad de miembro del Comité Tripartito de apoyo al proceso de negociaciones relativas al Área de Libre Comercio de las Américas (ALCA), pone el presente documento a disposición de los países insertos en el proceso de negociaciones, de su Comité de Negociaciones Comerciales (CNC), de sus Grupos de Negociación y del Grupo de Revisión de la Implementación de Cumbres (GRIC). El documento contiene las nuevas definiciones y coberturas de los componentes del comercio internacional de servicios, series históricas (1980-2001) para 35 países de la región, incluidos Canadá y Estados U…
(*);Este documento fue preparado en el Centro de Proyecciones Económicas, bajo la supervisión de Hubert Escaith, Oficial a cargo de la División de Estadística y Proyecciones Económicas de la CEPAL. La coordinación técnica y la realización del estudio estuvo a cargo de André Hofman, Jefe del Centro de Proyecciones Económicas. Gunilla Ryd elaboró el capítulo sobre el marco internacional y André Hofman preparó el capítulo sobre el desempeño reciente y las perspectivas regionales. Esteban Pérez colaboró en el análisis del Caribe. Participaron en la elaboración del estudio y en la preparación del t…
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