31 Oct 2008, 00:00 - 14 Oct 2025, 15:36
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The external environment has deteriorated sharply as a result of the spiraling financial turmoil, and has led to a weakening in commodity prices and fears of a worldwide recession. Latin America and the Caribbean's fastest expansion in 40 years may be threatened as the global credit crunch makes financing scarce and squeezes demand for the region's commodities. This time around the region is better positioned to weather the crisis than in the past, given improvements in macroeconomic and financial policies as well as a reduced net dependency on external capital inflows. However, Lati…
1 Jun 2006, 00:00 - 14 Oct 2025, 15:36
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This document was prepared by the Economic Projections Centre, under the supervision of Hubert Escaith, Director of the Statistics and Economic Projections Division of the ECLAC. André Hofman, Chief of the Economic Projections Centre (ECP), was in charge of technical coordination and for conducting the study. The assistance of the national and subregional offices and of the ECLAC Economic Development Division was much appreciated. The views expressed in this document, which have not been formally edited, are the sole responsibility of the working group and do not necessarily reflect the vi…
1 Ene 2006, 00:00 - 14 Oct 2025, 15:32
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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.…
This study investigates the relationship between individual and household characteristics and income inequality in Central America, the Dominican Republic and Mexico from 1990 to 2002. A Theil decomposition exercise of individual and household income inequality is used to determine factors important for the level of inequality. In addition, the use of a novel semi-parametric simulation methodology from DiNardo, Fortin and Lemieux (1996) provides counterfactual income distributions of individuals and households to assess the importance of changes in their demographic, education and labo…
1 Nov 2005, 00:00 - 14 Oct 2025, 15:30
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This paper examines the theoretical foundations for macroeconomic policy coordination and the related empirical findings in Latin America, contributing an original analysis that advocates new dialogue mechanisms to facilitate coordination in this region. The theoretical survey is concerned with non-cooperative coordination games, including dynamic games and those with imperfect information. The practical value of these game-theoretic tools is illustrated using economic examples. One important result is that implementing different forms of dialogue in specific situations can help to reach a coo…
18 Jun 2004, 00:00 - 14 Oct 2025, 15:23
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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…
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 …
1 Mar 2003, 00:00 - 14 Oct 2025, 15:36
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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 Nov 2001, 00:00 - 14 Oct 2025, 15:34
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Abstract In the relatively short history of Mercosur, the countries of the region have gone through wide macroeconomic fluctuations. Macroeconomic turbulence is not a novelty for Argentina, Brazil and their partners, but it has shown different features in recent years, particularly concerning the strength and nature of regional spillovers. Despite the asymmetries in size among the economies of the area and the low starting levels of trade, the rapid growth of intra-regional commerce until the last few years, and the feeling that there was a 'mercosur component' in the intern…
6 Feb 2001, 00:00 - 14 Oct 2025, 15:36
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The concern with a gender dimension of macroeconomic policy stems from the mandate of the Beijing conference to review and implement policies aimed at achieving equitable access to economic resources. This paper examines some of the macroeconomic policies pursued in the Caribbean within the context of economic adjustment in order to understand the rationale for these polices to see whether and how gender analysis could contribute to a more equitable outcome. The aims and goals of macroeconomic policy are explained, against the background of the economic problems faced by the region since 1970.…
20 Feb 2019, 00:00 - 14 Oct 2025, 15:32
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The Economic Survey of the Caribbean 2018 analyses the performance of the Caribbean subregion to the global economy. It provides a comparative analysis of global economic growth, commodity price performance, Caribbean growth performance, and unemployment. This is then followed by a subsection on fiscal policy and public debt. Subsequent subsections elaborate on monetary policy, and the external sector. Section II presents country briefs for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, and Trinidad and Tobago, together with the member states of the Eastern Caribbean Currency Union …
1 Jun 2016, 00:00 - 14 Oct 2025, 15:36
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U.S. economic growth disappointed in the first quarter of 2016, as global conditions continued to have an adverse impact. According to the U.S. Department of Commerce’s third estimate, the GDP grew at a 1.1% annualized pace in the first quarter, up from a previous estimate of 0.8%, and down from 1.4% in the fourth quarter of 2015. Growth was under 1.5% for the last two quarters, the worst six-month performance in nearly three years.…
The eight Millennium Development Goals - which range from halving extreme poverty to halting the spread of HIV and AIDS and providing universal primary education by 2015 - form a blueprint for tackling critical issues facing developing countries: poverty, hunger, inadequate education, gender inequality, child and maternal mortality, HIV/AIDS, and environmental degradation. The Caribbean Millennium Development Goals Report 2010 reviews progress in the Caribbean subregion towards the achievement of the Millennium Development Goals on the basis of the most recent data available from official coun…
1 Abr 2003, 00:00 - 14 Oct 2025, 15:32
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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…
1 Abr 1999, 00:00 - 14 Oct 2025, 15:36
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Abstract This paper reviews the current controversy on the reform of the international financial architecture. The paper first identifies some basic assumptions that must be taken into account in any meaningful reform. Then it identifies basic areas of consensus among different analysts: the need to maintain expansionary policies in industrialized countries as long as the current uncertainty prevails; to develop adequate contingency financing for countries in difficulties; to improve the institutional framework in which financial markets operate; to create appropriate mechanisms to internalize…
1 Ago 1993, 00:00 - 14 Oct 2025, 15:36
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This article highlights the need to complement macroeconomic policies designed to secure stabilization, deregulation and greater openness with other macroeconomic and microeconomic measures aimed at revitalizing the growth and competitiveness of the countries of the region. At the national level, in terms of macroeconomic measures, it is necessary to increase domestic saving and channel it towards productive investments within the local context, while microeconomic policy should include measures to develop and consolidate in the countries an innovative, wide-ranging system for furthering chang…
Inter-American economic relations underwent significant changes since the end of World War II, with the creation of hemispheric institutions, such as the Organization of American States (OAS) and the United Nations Economic Commission for Latin America (ECLA). This document examines two decades of interaction on economic affairs between the Latin American and United States governments, in the setting provided by these hemispheric institutions.…
14 Oct 2008, 00:00 - 14 Oct 2025, 15:32
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Rasgos generales de la evolución reciente En 2007, la economía cubana registró una expansión de 7,3%. Como el crecimiento demográfico fue nulo, el producto interno bruto (PIB) por habitante aumentó proporcionalmente con el PIB. El déficit fiscal global se incrementó ligeramente, de 3% del PIB en 2006 a 3,1% en 2007, mientras que la tasa de inflación varió 2,8%, la mitad que el año anterior (5,7%). Por último, la cuenta corriente de la balanza de pagos ascendió a un superávit equivalente a 0,8% del PIB. Cuba: Economic evolution during 2007 and Outlook for 2008 Abstract: General fea…
11 Mayo 2023, 00:00 - 14 Oct 2025, 15:29
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Anuncio
La Comisión Económica para América Latina y el Caribe (CEPAL) celebrará del 15 al 17 de mayo la XXXV edición del Seminario Regional de Política Fiscal. Este reconocido foro regional ha convocado durante 35 años a autoridades, especialistas, sociedad civil y academia al diálogo sobre los desafíos de política fiscal que enfrentan los países de la región.
El encuentro incluye la participación del Banco Interamericano de Desarrollo (BID), la Organización para la Cooperación y el Desarrollo Económicos (OCDE) y el Fondo Monetario Internacional (FMI), y cuenta con el auspicio de la Agencia Española d…
13 Feb 2018, 00:00 - 14 Oct 2025, 15:32
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The U.S. economic expansion remains on track and it has entered its ninth year. January marked the 103th month of growth for the U.S. economy. By May, the current economic expansion will become the second longest on record.1 The unemployment rate sits at 4.1%, the lowest level since December 2000, suggesting the economy has reached, or nearly reached, full capacity.…