Latin American manufacturing industry has undergone various changes in recent years. It has registered a favourable performance as far as exports are concerned, but production and investment have grown only slowly in a context of sluggish recovery of domestic demand and greater foreign competition. Other features are greater specialization in natural resource-based intermediate goods characterized by the importance of economies of scale, relatively long lead times for the heavy investments required, and the presence of privatized and transnational enterprises. At the same time, there are signs…
The financing of a State's sub-national levels of government, in federal and other systems alike, is an instrument of decentralization; first, each State has to decide what area of responsibility to assign to each governmental level and then it must design a suitable financing mechanism. If these sub-national governments' degrees of fiscal and administrative autonomy are not kept in alignment, then eventually the initiative may fail as the bodies at these levels gradually lose decision-making power within their sphere of responsibility. It is unlikely that sub-national levels of gove…
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Los indicadores recientes de la economía uruguaya muestran señales evidentes de expansión de
su actividad. Esa tendencia favorable se observa tambien a nivel de las expectativas de sus
agentes económicos, como en el clima económico global lo que hace suponer que la actual
coyuntura representa una inflexión en el prolongado ajuste que sobrevino a la crisis del inicio de
los años '80..
Ese crecimiento económico real está fuertemente condicionado por factores tanto externos
como internos, interrelacionados entre sí. La aceleración de la tendencia aperturista de la
economía, en…