This book compiles and adapts different chapters written by the author during the last decades on the topic of Caribbean development. On the one hand, the document provides the reader with the opportunity to travel in time acknowledging the evolution of academia, paradigms, and frameworks regarding the Caribbean. On the other hand, it shows the reader how many of the action plans and strategies suggested through the years are still relevant and how many of the challenges and structures of Caribbean nations have not changed radically over the years, once again stressing the urgent need for acti…
Em sua edição número 70, que corresponde a 2018, o Estudo Econômico da América Latina e do Caribe consta de três partes. A primeira resume o desempenho da economia regional durante 2017 e analisa sua evolução durante os primeiros meses de 2018, bem como as perspectivas para o ano inteiro. Examina os fatores externos e internos que incidiram no desempenho econômico da região, analisa as características do crescimento econômico e a evolução dos preços e do mercado de trabalho e destaca as características e alguns desafios para as políticas macroeconômicas num contexto externo caracterizado por c…
In an international context marked by uncertainty and volatility, the economies of Latin America and the Caribbean will grow 1.5% on average in 2018, thanks to a rebound in domestic demand, private consumption especially, and a slight increase in investment, ECLAC indicated in a new annual report.
The Economic Survey of Latin America and the Caribbean 2018 – one of the organization’s most traditional publications, issued uninterruptedly since the year of its founding (1948) – was released today during a press conference at ECLAC’s Subregional Headquarters in Mexico, in Mexico City, by its Exec…
En un contexto internacional marcado por la incertidumbre y la volatilidad, las economías de América Latina y el Caribe crecerán 1,5% en promedio en 2018, gracias a un repunte de la demanda interna, especialmente del consumo privado, y un leve aumento de la inversión, señaló la CEPAL en un nuevo informe anual.
El Estudio Económico de América Latina y el Caribe 2018, una de las publicaciones más tradicionales del organismo -editada ininterrumpidamente desde el año de su fundación (1948)- fue dado a conocer hoy en una conferencia de prensa en la Sede Subregional de la CEPAL en México, en Ciudad …
Em um contexto internacional marcado pela incerteza e pela volatilidade, as economias da América Latina e do Caribe crescerão em média 1,5% em 2018, graças a um aumento da demanda interna, especialmente do consumo privado, e um leve aumento do investimento, indicou a CEPAL em um novo relatório anual.
O Estudo Econômico da América Latina e do Caribe 2018, uma das publicações mais tradicionais da CEPAL - publicada ininterruptamente desde o ano de sua fundação (1948) - foi divulgado hoje em uma coletiva de imprensa na sede sub-regional da CEPAL na Cidade do México, pela Secretária-Executiva, Alic…
This article analyses the Chilean government’s response to the 1999 recession that followed on from the Asian financial crisis, focusing on the macroeconomic policy reforms adopted and the institutional factors that influenced this response. The analysis is based on a review of previous research on the topic and suggests that some fiscal and monetary policies adopted during 1997−1998 exacerbated the effects of what were initially external shocks. However, fiscal discipline and the robust public institutions developed before and after the recession strengthened Chilean social protection policie…
This paper identifies potential for trade between Colombia and the European Union following the implementation of a free trade agreement as from 2013. Predictions of potential are based on estimates produced by the Poisson pseudo maximum likelihood estimator applied to a gravity model, controlling for unobserved omitted variable bias with exporter and importer time-varying fixed effects on a sample of 153 countries, from 1980 to 2012. Untapped potential is found in both directions of trade flows. The results could increase the effectiveness of trade policy and define companies’ expansion plans…
This study explores how deindustrialization is influencing the labour market in El Salvador. The variables under analysis are disaggregated by sex in order to permit an analysis of the differences in the ways that women and men react to deindustrialization. The results indicate that deindustrialization has led to a decline in quality employment and an upswing in self-employment, at the same time that the female labour force participation rate has risen and the male participation rate has fallen. This all occurred in parallel with the economic measures introduced in the 1990s and reflects the r…
This paper begins by reviewing the literature on the relation between economic growth and the functional distribution of income since the time of the classical economists, highlighting the work of Kalecki and the post-Keynesians who develop the growthregimes approach. It reconstructs and analyses statistics on the shares of wages, income from self-employment (or from mixed sources) and profits in Peru’s GDP between 1942 and 2013, and then compares these shares with the averages for Latin America and other economies. The study then makes a comparative analysis of trends in the wage share and ra…
The Latin America and the Caribbean region has an ambiguous place in the new geography of development: while it is a predominantly middle-income region, it is home to no more than 3% of the world’s poor population. Consequently, there is a risk that the international community will (mis)interpret this situation as meaning that the region need not be prioritized in the 2030 Agenda for Sustainable Development. Nonetheless, the Sustainable Development Goals are not merely a strategy to combat economic poverty, but also a multidimensional strategy that defines a complex world map of priorities. Th…
In recent decades, Latin American countries have adopted more flexible exchange-rate regimes and set inflation targets. Several authors argue that some countries’ monetary and exchange-rate policies suffer from a procyclical bias, whereby central banks are reluctant to reduce interest rates when inflation falls, but are willing to increase them when inflation edges up. Therefore, the exchange rate tends to appreciate a lot and depreciate little. This paper analyses the asymmetry of the monetary and exchange rate policies of the five largest Latin American countries in which inflation targets a…