Summary
In general economic expansion in the Caribbean countries was slightly more robust in 1997 than in the preceding year. However, the rate of growth experienced by the countries surveyed was more uneven than in 1996. The sectors recording strongest performance were tourism, construction and the distributive trades. Agriculture turned in a mixed performance with declining output in Barbados, Jamaica and the Organization of Eastern Caribbean States (OECS);. The traditional agricultural exports suffered from deteriorating terms of trade while output in the sector as a whole was adversely…
The profound transformations undergone by the economies of Latin America and the Caribbean in recent decades have combined with a massive increase in the number of economically active women to produce significant changes in the labour market. Nonetheless, the indicators used to measure and describe this market have remained unchanged, despite the fact, which it is important to bear in mind, that they were designed for circumstances distinct from today's, with different participants and requirements in policy terms.
Although the importance of measuring the share in economic activity accoun…
As part of the United Nations Development Programs thematic focus on poverty eradication and Poverty Strategy Initiatives, the UNDP, in cooperation with the Armenian Government, the World Bank and the Economic Commission for Latin America and the Caribbean (ECLAC), organized a workshop on Social Indicators to be held at Yrevan, Armenia on November 13-14, 1997. In accordance with the United Nations Global Conferences and their goals, the workshop pursued as its goal the elaboration of poverty initiatives to alleviate poverty, preserve the human capital and adjust it to new market conditions, wh…
Introducción (primeros párrafos);
La Argentina, un país de base productiva eminentemente agrícola, encaró a partir de la crisis del año 1930 un proceso de industrialización fuertemente intervenido por la acción estatal. Esta experiencia de industrialización tardía se constituyó - con más claridad a partir de la posguerra- en un ejemplo típico de las llamadas Iniciativas de Sustitución de Importaciones (de aquí en más, ISI);.
El desempeño económico del país a lo largo de los casi cincuenta años que estuvo vigente la ISI no fue homogéneo, pero puede decirse que la Argentina logró llevar a cabo l…
Este artículo tiene por objetivo describir y analizar la formulación, ejecución y resultados de la política macroeconómica llevada a cabo por el Banco Central de Chile en el primer quinquenio de los años noventa. En la sección I se explica la importancia de los equilibrios macroeconómicos desde la perspectiva del Banco Central de Chile. En la sección II se describen los objetivos del Banco Central y cómo éste interpretó el logro de los equilibrios interno y externo. La sección III resume las características institucionales, estructurales y coyunturales que le dan la particularidad del caso a l…
En América Latina, las fluctuaciones macroeconómicas han sido en las últimas décadas más frecuentes y de mayor magnitud que en otras latitudes, volatilidad que ha repercutido negativamente en los procesos de desarrollo de nuestros países. En este artículo se examina la conveniencia de establecer normas de política económica, particularmente en el ámbito fiscal, que permitan atenuar la frecuencia y amplitud de estos desequilibrios. Se pasa revista a las interacciones de la política fiscal, el ciclo económico y el crecimiento y se muestra la dificultad de establecer una relación numérica contund…
La inminente extensión de la Unión Europea hacia el este ha reavivado la inquietud en América Latina por la posibilidad de un mayor aislacionismo en Europa. Sin embargo, es difícil que perjudique a América Latina el auge de las relaciones en materia de comercio e inversión extranjera directa entre los miembros actuales de la Unión Europea y los países de Europa central y oriental. Por su composición, parece que las exportaciones de América Latina a la Unión Europea complementan las de los países de Europa central y oriental. Además, la masiva afluencia reciente de inversión extranjera directa …
This article aims to describe and analyse the formulation, implementation and results of the macroeconomic policy carried out by the Central Bank of Chile in the first half of the 1990s. Section I explains the importance of the macroeconomic balances from the standpoint of the Central Bank of Chile. Section II describes the Central Bank's objectives and its interpretation of the achievement of domestic and external balances. Section III summarizes the institutional, structural and conjunctural features which make the Chilean experience a special case. Section IV sets out the criteria adop…
In Latin America, macroeconomic fluctuations have been more frequent and more serious in recent decades than in other parts of the world, and this volatility has adversely affected the development processes of the countries of the region. This article looks at the desirability of establishing economic policy rules, particularly in the fiscal area, to reduce the frequency and size of these imbalances. The interactions between fiscal policy, the economic cycle and growth are reviewed, and the difficulty of establishing a convincing numerical relation between public expenditure and long-term grow…
International experience shows that costfree replication and adoption of industrial best practices on a universal basis is a misconception. Rather, it is a matter of a progressive and reciprocal adaptation between external and local practices in which learning costs and times, as well as the need for public and private cooperation, are essential. The potential for convergence of policies, practices and institutions triggered by globalization appears to be greater at the macroeconomic than at the microeconomic level. This article examines such issues in a general way and then focuses on the di…
The pending widening of the European Union to the East has revived concerns in Latin America that Europe may become more inwardlooking. However, booming trade and foreign direct investment (FDI); relations between current EU members and Central and Eastern European countries (CEECs); are unlikely to harm Latin America. Trade patterns suggest that Latin America's exports to the EU are complementary to the exports of the CEECs. Moreover, the recent surge of FDI flows to various host countries, including several Latin American economies, indicates that new investment opportunities in CEECs …
Summary
This document outlines the recent economic performance of the Caribbean countries and some of the salient issues and problems confronting policy making at this time. A discussion on trading relationships and the prospects facing the Caribbean in the changing regional and world environment follows. The Lome Convention, bananas, the Sugar protocol, the state of the Caribbean Community, CARIBCAN and the CBI are examined in this section. Challenges facing state reform, such as poverty, social services and the financial system are highlighted.…
Resumen El presente estudio trata de la relación entre el notable desempeño de las exportaciones chilenas en los dos últimos decenios y la elevada tasa de crecimiento económico que viene registrando desde mediados de los años ochenta. Primero que nada. procura determinar si la experiencia chilena es un caso de crecimiento inducido por las exportaciones o bien uno de exportaciones inducidas por el crecimiento . Mediante el análisis de series cronológicas se comprueba que las dos variables exógenas que explican el crecimiento chileno son las exportaciones y la inversión mientras…
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