1 Abr 2004, 00:00 - 14 Oct 2025, 08:32
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Publicación
In the fourth quarter of 2003, net capital flows to emerging markets accelerated sharply to reach a 3-year high of US$187 billion, a 50% increase from the US$124 billion reached in 2002. This increase is the result of the combination of abundant global liquidity, strong economic growth, and the improving credit quality of borrowers in both mature and emerging markets. Emerging markets were favored by moderate volatility, low risk-free interest rates and rising commodity prices. In addition, a weak US dollar, solid cash flows and search for yield supported the rally to Latin American countries.…
18 Jun 2004, 00:00 - 14 Oct 2025, 08:23
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Publicación
Presentation
The countries of the Latin American and Caribbean region have shown a keen
and lasting interest in mechanisms of economic development and public policies for its
promotion. This is a process in which ECLAC has been involved ever since it was founded
over half a century ago. Today, the debate on these issues continues against the backdrop
of a globalization process in which the remarkable dynamism of some dimensions
-especially its economic, financial and cultural aspects- contrasts with the
slow formation of an institutional network capable of coping with the increased
interdepend…
1 Feb 2004, 00:00 - 14 Oct 2025, 08:24
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Publicación
Si bien en la Argentina no se dispone de muchos casos concretos de utilización explícita de instrumentos económicos para mejorar la gestión ambiental que se hayan aplicado sistemáticamente en el pasado reciente, existen algunos programas de promoción de actividades económicas que presentan directa o indirectamente aspectos de mejoramiento ambiental,1 como así también diferentes iniciativas específicas —con distintos grados de avance— planificadas para su aplicación futura. Al respecto, se realizó un relevamiento de esos instrumentos, consultando a las instituciones responsables del diseño, for…
1 Nov 2004, 00:00 - 14 Oct 2025, 08:32
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Publicación
During the second quarter, the prospect of an unexpected U.S. interest rate increase weakened investors' appetite for risk, and capital flows to Latin America faded in response. Latin American spreads increased by 71 basis points during the quarter, up to 607 bps at the end of June, from 536 bps at the end of March. Quarterly issuance in Latin America also suffered, dropping to US$4.7 billion, a level not seen since the last quarter of 2002. As a result, Latin America moved behind Eastern Europe, which issued US$6.3 billion or 39% of total emerging market issuance, compared to 29% for L…
1 Nov 2004, 00:00 - 14 Oct 2025, 08:32
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Publicación
In the third quarter of 2004, the positive interaction of external and domestic factors in the Latin American region created a favorable environment for capital inflows. Among the external factors, an unprecedented amount of global liquidity, combined with an environment of low risk-free rates and a search for yield, was one of the main driving forces in the third quarter. Liquidity and low rates benefited not only emerging market debt, but all risky assets, which have become highly correlated among themselves. However, in the case of emerging markets, and Latin American markets in particular,…
Investors expect a strong finish for emerging markets this year, as market environment remains supportive of credit products, especially those with strong fundamentals and interesting yields, which is the case for emerging markets. Since the start of the year there were two sets of forces driving emerging markets debt: global liquidity and fundamental credit improvements. To a large degree, improving credit quality has itself been the result of ample global liquidity and the low interest-rate environment. Against this backdrop, spreads reached record low levels and issuance was boosted. The we…
1 Mayo 2004, 00:00 - 14 Oct 2025, 08:31
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Publicación
In 2003, flows of foreign direct investment (FDI) to Latin America and the Caribbean continued to shrink for the fourth year running. With this latest decline, Latin America and the Caribbean turned in the worst performance of any world region. This situation was exacerbated by the steady increase in profit remittances and in outflows of other FDI-related resources, which has diminished its impact on the balance of payments. The decrease in FDI inflows over the past few years has varied across subregions and countries in Latin America and the Caribbean, however. In Mexico and the Caribbean bas…