This volume deals with macroeconomic issues and their relationship to growth in emerging economies. Lack of economic growth has been a feature of Latin American economies since the 1980s. In this book the analysis is complemented by two studies focused in East Asia and South Africa. All country cases examined have exhibited low inflation but high instability of economic activity in the 1990s and early 2000s. These cases provide relevant theoretical implications for a broader understanding of real macroeconomic policies in economies vulnerable to the globalization of financial volatility.…
Contents
Foreword
Regional Financial Cooperation: Experiences and Challenges, José Antonio Ocampo
Reforming the Global Financial Architecture: The Potential of Regional Institutions, Roy Culpeper
Regional Development Banks: A Comparative Perspective, Francisco Sagasti and Fernando Prada
Regional Exchange Rate Arrangements: The European Experience, Charles Wyplosz
European Financial Institutions: A Useful Inspiration for Developing Countries? Stephany Griffith-Jones, Alfred Steinherr, and Ana Tereza Fuzzo de Lima
Macroeconomic Coordination in Latin America: Does It Have a Future? J…
Studies of Argentina, Colombia, Chile and Mexico conducted collaboratively by ECLAC and GTZ point to environmental impacts associated with small and medium enterprises (SMEs), particularly in the manufacturing sector. This impact is essentially local, though it can become significant at the aggregate level, i.e., SMEs are responsible for some of the environmental problems caused by industry as a whole. Though SMEs account for only a small fraction of such problems -at the national level, the effect is often marginal in terms of environmental degradation- the impact may be significant and fairl…
The paper analyses the main features of trade agreements covering services concluded between Latin American countries and developed country partners. The General Agreement on Trade in Services (GATS) is devoted a full section with a view to setting out key analytical parameters for the ensuing approach to individual agreements with the United States, the European Union and Japan. By means of a very detailed comparison across agreements, a typology is established for classifying specific elements with relation to whether they simply mirror GATS provisions (GATS-neutral ), go beyond GATS pr…
1. Rasgos generales de la evolución reciente La actividad económica en el Istmo Centroamericano registró en 2005 una expansión igual a la del año anterior (4%), apenas por debajo del promedio de América Latina y el Caribe (4,3%). Excluyendo a Panamá, la tasa de crecimiento se elevó de 3,3% a 3,6%. También fue notable una menor dispersión de las tasas alrededor del promedio. Todos los países se hallan en la fase expansiva del ciclo económico, ya que se cumplieron tres años de incremento del producto interno bruto (PIB) por habitante, después del retroceso ocurrido en el bienio 2001-2002. Si …