This paper provides an overview of the structure and performance of the Caribbean tourism sector. It evaluates the role of policies and strategies as they impact the growth and competitiveness of the sector. Although the paper is not definitive on the subject, it provides some initial work on aspects of the industry that are not the typical focus of research. These include industrial structure, evaluated in terms of size, concentration, economies of scale and scope, competition and market types, for example oligopoly. Further the paper, examines the concept of clusters as it applies to the in…
21 Oct 2003, 00:00 - 14 Oct 2025, 18:11
|
Publicación
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…
1 Oct 2003, 00:00 - 14 Oct 2025, 18:10
|
Publicación
Summary In Latin America, energy efficiency and renewable energy offer great potential for reducing the negative effects of the ever-increasing rates of energy consumption associated with economic growth and the move towards more energy-intensive societal models. Despite over two decades of discussions aimed at giving energy efficiency and renewable energy more prominent positions in the energy policies of Latin American countries, little has been achieved so far. The fact that these issues have not been integrated into energy policies reflects, to a certain extent, a failure on t…
Executive Summary
One of the major challenges facing developing countries is to attain high levels of competitiveness in all areas in order to effect the necessary transformation of their production structures. Technological development and innovation are identified as key factors in the attempt to meet this challenge. In many ways technology, in the broadest sense, has become a sine qua non for attaining and
maintaining competitiveness, which is itself considered one of the imperatives of successful industrial development. Similarly, in the Caribbean, science and technology are identified as …
1 Ago 2003, 00:00 - 14 Oct 2025, 18:11
|
Publicación
The term rules of origin is an economic expression referring to a set of substantive rules for identifying the source of imported goods. As with any set of rules, certain formalities must be followed which entail public and private transaction costs. The public sector has to enforce the rules of origin and implement proper controls with a view to monitoring external trade in goods, minimizing budgetary expenditures and maximizing the collection of tax revenues, while at the same time facilitating international trade. Likewise, private agents involved in external trade in goods are requir…
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%…
16 Jun 2003, 00:00 - 14 Oct 2025, 18:11
|
Publicación
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…
1 Mar 2003, 00:00 - 14 Oct 2025, 18:09
|
Publicación
Abstract The paper deals with changes in the regulation and supervision of the Latin American financial sector in the aftermath of the Tequila Crisis of 1994-1995. While it finds that both have improved, regulation and supervision cannot resolve all problems; good macroeconomic policy and performance are essential complements. This is especially true because of the procyclical nature of financial activity. The paper presents both regional data for Latin America, contrasting it with other emerging markets, and four country case studies (Argentina, Brazil, Chile, and Mexico). The latter show how…
1 Ene 2003, 00:00 - 14 Oct 2025, 18:04
|
Publicación
Abstract New technological options that permit the use of digital systems to create and disseminate information around the world are paving the way for new means of organizing society and economic production and are gradually giving rise to a meta-paradigm that has come to be referred to as the Information Society. Viewed from the perspective of developing countries, the question of how to employ this emerging paradigm to achieve broader development goals and to integrate them more fully into the global Information Society is an issue of the utmost importance on the development agenda…
This paper examines the progress in the implementation of the CSME and what this has meant for the core (trade, investment, etc.); and functional aspects (foreign policy coordination, education, health and social development, etc.,); of integration. A tentative assessment is also made of the relevance of the current mode of integration in light of the opportunities and constraints of the international environment. The paper is divided into three sections. Section one provides a critical assessment of the implementation of the protocols and other aspects of the CSME. Section two evaluates the …
This document provides an overview of the most relevant developments in United States trade policy relating to Latin America and the Caribbean in 2003. U.S. policy continued to promote trade liberalization through advancing negotiations on multiple fronts- globally (WTO), regionally (FTAA) and bilaterally (Chile and CAFTA)- with a view that the various negotiations are mutually reinforcing and seek to create a constructive competition for liberalization among trade partners. The Trade Promotion Authority (TPA) provided an impetus to the signing and Congressional approval of bilateral free t…
Stable development and financing of the social protection
system, one of the priorities of fiscal policy in Chile over
recent years, has helped to reduce poverty and indigence,
particularly since the 1990s. The fiscal accounts have been
managed prudently, and budgetary balance and efficient
administration have been given priority over short-term
objectives. Even so, poverty is still a fact of life and the
poor are still vulnerable to drastic falls in income. This means
that an effort is still required to modernize fiscal policy and
develop new institutional arrangements for the social
protecti…
The UN/ECE Water Convention: exporting experience in water cooperation to the world.-- II. Virginia wins Potomac water war in Supreme Court.-- III. Water conflicts unlikely according to new study.-- IV. Privatization of the world’s waterways criticized.-- V. Water for five million Americans lost to Mexico?.-- VI. Mexican President blames water debt on predecessors.-- VII. Rio Grande water to be sold to Mexico.-- VIII.Suez may sue Puerto Rico.-- IX. Tribunal chosen to hear dispute over Peruvian preserve.-- X. Transboundry Issues – Iraq requests talks with Syria and Turkey…
1 Ago 2003, 00:00 - 14 Oct 2025, 18:09
|
Publicación
Summary In the second half of the twentieth century some of the Latin American countries suggested a system of stratification for mining activity, which was never actually applied, based on criteria such as the volume of production, the amount of capital invested and the number of workers involved in mineral extraction. One result of this stratification, which divided the industry into small-, medium- and large-scale mining, was that governments at different times implemented plans and programs in various areas, without any integrated planning between them; some related to the promotion of…
1 Mar 2003, 00:00 - 14 Oct 2025, 18:11
|
Publicación
Abstract In this overview we analyse, first, why funds continued to flow towards emerging economies, while fundamentals in host countries had been deteriorating before the Asian crisis (a rising external deficit, with a significant liquid component; appreciating exchange rates; low capital formation, particularly in Latin America), and why funding remains dry for long since 1998; the role of the nature of the predominant agents and of a process of flows rather than one-shot building of stock of foreign capital are stressed. Then, the analysis focuses on the interrelations of capital flows and …
1 Feb 2003, 00:00 - 14 Oct 2025, 18:04
|
Publicación
This document provides an overview of the most relevant developments in United States trade policy relating to Latin America and the Caribbean in 2002. U.S. policy continued to promote trade liberalization through advancing negotiations on multiple fronts- globally (WTO), regionally (FTAA) and bilaterally or sub regionally- with a view that the various negotiations are mutually reinforcing and seek to create a constructive competition for liberalization among trade partners. The passage of Trade Promotion Authority (TPA) included in the Trade Act of August 2002 enhanced the U.S. Adminis…
29 Ene 2003, 00:00 - 14 Oct 2025, 18:11
|
Publicación
In the 1990s, Canada's trade relations with Latin America and the Caribbean intensified. The signing of the North American Free Trade Agreement (NAFTA) in 1994 signaled the beginning of a new phase in trade relations between Canada and countries in the hemisphere. Since 1994, Canada has signed trade agreements with Costa Rica and Chile. Currently, negotiations are underway for a free trade agreement with Central America. Also, preliminary talks of trade agreements with the Caribbean and the Andean Community have taken place. In addition, Canada is actively participating in negotiati…
1 Ene 2003, 00:00 - 14 Oct 2025, 18:04
|
Publicación
Abstract Based on the analysis of the Argentinean currency board and the full dollarization scheme in Ecuador this paper argues that an intermediate exchange rate regime (compared to free floating or hard peg) will be a better option for countries subject to external financial shocks and a worldwide export and import structure. It shows that the Argentine convertibility system was successful as an anti-inflationary program. However, the reduction in the inflation rate has been accompanied by a dramatic change in relative prices of tradable and non tradable goods and services, which ha…
From November 2001 to April 2003, the International
Monetary Fund grappled with a radical proposal, the
Sovereign Debt Restructuring Mechanism, for handling the
external debt of insolvent governments of developing and
transition economies. That proposal was rejected, but new
collective action clauses that address some of the
difficulties in restructuring bond debt are being introduced.
In addition, IMF is developing a pragmatic and eclectic
approach to assessing debt sustainability that can be useful
to governments and creditors. However, many of the
problems in restructuring sover…
1 Abr 2003, 00:00 - 14 Oct 2025, 18:02
|
Publicación
The Andean countries, a region with abundance of natural resources and other valuable assets, exhibit a variety of governance problems that hinder its potential for social peace, stability and economic prosperity. Their empirical governance record, based on historical and recent data, although varies from country to country has been characterized by political instability, considerable frequency of constitutional reforms, presidential crisis, volatility of democratic institutions and violence. In turn, the empirical evidence on quality of institutions put the Andean region in a relatively modes…