31 Ene 2018, 00:00 - 14 Oct 2025, 05:21
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Publicación
This paper examines the genesis and evolution of debt and debt overhang in the Caribbean with individual case studies, to extract lessons and make broad recommendations with regard to appropriate mechanisms and policy measures that can be implemented to reduce the debt burden of the subregion. The econometric model utilized in the paper has shown that a one percent increase on debt to GDP ratio causes a 0.015decline in real GDP growth for the countries in the Caribbean panel, suggesting that debt has a pernicious effect on growth on Caribbean economies. What is even more worrisome was that Car…
28 Jun 2004, 00:00 - 14 Oct 2025, 05:22
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Publicación
In this paper we estimate the fiscal implications of the free trade agreement signed between the United States of America and the five Central American countries of Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. Of the five possible effects on fiscal revenue (direct, indirect, elasticity, substitution and induced), in this paper we estimate the first three. The fourth effect is most likely negligible, whereas the estimation of the fifth one would be plagued by uncertainty, so we do not attempt it here. We use comparative statics to estimate the impact. We find the adverse …
1 Ago 2008, 00:00 - 14 Oct 2025, 05:22
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Publicación
This article reviews the formal institutional framework forimplementing rural development policies in Guatemala, which originatedin the State modernization process promoted through the Peace Accords.The main thesis is that rural development policies will be more efficientif they are based on the institutional framework that the Peace Accordsprovided, which distinguishes between three levels of government: central,deconcentrated and decentralized. While the two sub-national levelsexecute 43% of total public investment, central government needs to targetthe budget on poor zones, cut subsidies to…