1 Feb 2010, 00:00 - 14 Oct 2025, 15:31
|
Publicación
The countries of English- and Dutch-speaking Caribbean have made significant progress in its economic and human development. Most governments have implemented programs and policies of social protection for vulnerable groups of the population, but its sustainability could be jeopardized because of the global financial crisis. In this cyclical factor is compounded by large external debts of these countries, high exposure to natural disasters, limited natural resources, limited economic diversification and some challenges to their institutional capacities. Although short-term policies are needed …
Financial integration among countries entails a series of well-known benefits. On the one hand, net inflows of external savings can complement national savings within an economy and therefore raise productive investment and income. On the other hand, capital mobility provides opportunities for portfolio diversification and risk sharing between countries and this may enable investors-both firms and households of particular countries- to achieve higher risk-adjusted rates of return. This in turn could encourage increases in savings and investment and therefore deliver faster rates of growth (Eic…
1 Oct 2009, 00:00 - 14 Oct 2025, 15:32
|
Publicación
Brazil has been the most dynamic country of Latin America and the Caribbean in global services trade in the 1990s and 2000s, but compared to other emerging economies elsewhere it is outperformed by China and India. Brazil's rising share in global services trade reflects mostly its increase in the world trade of other services, which include all services except transport and tourism. Brazilian exports of other services are concentrated in architecturalengineering and real estate services. In terms of destinations, the US market accounts for about one half and the European Union…
This article analyses the costs in terms of income distribution of the crisis and adjustments of the 1980s, as well as the effects of the subsequent recovery and resumption of sustained growth patterns. This analysis is based on comparable pairs of estimates of income distribution and poverty prepared by ECLAC for the ten largest and predominantly urban countries of the region. The method of analysis consists, on the one hand, of comparing the changes in distribution and in the macroeconomic and labour market variables during similar macroeconomic phases in the course of the adjustment process…
1 Jun 2008, 00:00 - 14 Oct 2025, 15:23
|
Publicación
IntroductionNearly 20 years ago, ECLAC put forward a proposal for structural change and productivity growth with social equity. At the time, the countries of the region were emerging from the severe crisis of the 1980s, with all its associated difficulties in terms of internal stabilization and external adjustment, and heading into a decade of structural reform which heeded the call of the Washington Consensus. In the midst of perplexity and pessimism regarding the region's prospects, ECLAC espoused a view of the situation that ran counter to the orthodox line of thought that marked econo…
12 Mayo 2008, 00:00 - 14 Oct 2025, 15:23
|
Publicación
In the midst of broad global market turmoil and mounting fears of a recession in the U.S., emerging markets have shown strong growth and economic resilience. For the first time in recent history, the external meltdown has not sparked capital flight from Latin America. Quite the contrary, Latin American markets have been seen by investors as a safe haven from the supbprime woes afflicting the U.S. economyDespite showing significant resilience, Latin American debt spreads widened in the first quarter of 2008, and after reaching record lows in May 2007, they are now re-approaching pre-Asian crisi…
1 Mayo 2008, 00:00 - 14 Oct 2025, 15:33
|
Publicación
IntroductionNearly 20 years ago, ECLAC put forward a proposal for structural change and productivity growth with social equity. At the time, the countries of the region were emerging from the severe crisis of the 1980s, with all its associated difficulties in terms of internal stabilization and external adjustment, and headed into a decade of structural reform which heeded the call of the Washington Consensus. In the midst of perplexity and pessimism regarding the region's prospects, ECLAC espoused a view of the situation that ran counter to the extremely orthodox line of thought that mar…
25 Oct 2007, 00:00 - 14 Oct 2025, 15:44
|
Publicación
Concerns about the ongoing U.S crisis in the housing sector and the asset exposures to subprime mortgages dominated financial markets in the second and third quarters of 2007. Volatility spiked in July and August, with losses in the subprime mortgage sector spreading to other risky assets. The volatility radiating from the United States is changing the global backdrop for emerging markets. This change comes after several years when the combination of improvement in country macroeconomic policies and strong risk appetites led to strong flows of new money to the emerging markets asset classes. …
1 Mayo 2007, 00:00 - 14 Oct 2025, 15:44
|
Publicación
Introducción Internationally, development banks emerged as governments of many countries attempted to accelerate economic development by directing finance to achieve this objective.Accordingly, it was felt that development banks had a major role to play in steering resources appropriately, particularly where there is market failure. Thus, development banks were deemed as a critical ingredient to improving access to credit, allowing for the provisioning of long-term finance at a low price, and the financing of start-up activities. In addition, development banks were seen as essential to the fi…
1 Mar 2007, 00:00 - 14 Oct 2025, 15:38
|
Publicación
This document summarizes the main ideas contained in the inter-agency publication with the same title coordinated by the Economic Commission for Latin America and the Caribbean (ECLAC), which included contributions from all of the international organizations that are present in the region (United Nations, 2005). This book examines the progress made between 1990 and 2004 by the Latin American and Caribbean countries and by the region as a whole in pursuit of the Millennium Development Goals and their respective targets. Together with this review, it analyses the main features of the region'…
1 Ene 2007, 00:00 - 14 Oct 2025, 15:24
|
Publicación
National savings and growth in Latin America have remained low in the 1990s and 2000s. The low level of national savings rates has forced Latin American countries to depend on foreign savings to finance investment and growth, which compounds the challenges for raising investment and growth prospects. This study extends the research on savings in three different dimensions: (1) in a time perspective, it extend the analysis on savings to the most recent years: we examine the period 1990-2003: (2) it examines the causality between savings, investment, and growth mostly uncovered in previous resea…
1 Jun 2006, 00:00 - 14 Oct 2025, 15:44
|
Publicación
Asset prices in emerging markets rallied to record highs in the first quarter of 2006, with bonds and equities posting strong performances on top of already remarkable 2005 gains. Spreads on dollar-denominated bonds issued by Latin American borrowers tightened by 68 basis points in the first quarter of the year, according to the Latin component of J.P. Morgan's EMBI+ index, while the Morgan Stanley Capital International (MSCI) for Latin America, an indicator of stocks' performance, increased by 15%. Emerging and Latin American markets continued to be supported by active debt managem…
1 Feb 2006, 00:00 - 14 Oct 2025, 15:44
|
Publicación
Emerging market bond spreads tightened to record low levels in 2005, as a result of the search for yield in face of ample global liquidity and improving fundamentals in emerging market countries. According to J.P. Morgan, most of the EMBI Global's 8.96% total return in 2005 was derived from spread tightening, which totaled 110 basis points in 2005. The EMBI+ spreads tightened 111 basis points and its Latin component tightened 137 basis points in 2005. Emerging and Latin American markets were also supported by active debt management, as countries took advantage of the favorable external en…
1 Jun 2005, 00:00 - 14 Oct 2025, 15:30
|
Publicación
This research produced evidence about the contribution of investment and other sources to the growth process of Latin America during 1960-2002, and provided answers to the questions listed above unless from an historical perspective. The combined growth accounting and regression analysis, and used data for the six largest Latin American countries: Argentina, Brazil, Chile, Colombia, Mexico, and Venezuela. These countries produce nearly 90 per cent of Latin America's GDP. Alternative growth accounting methodologies were used to measure the contributions of the sources of growth to GDP gro…
1 Jun 2004, 00:00 - 14 Oct 2025, 15:23
|
Publicación
What is poverty, how to measure it and how to tackle it, are the three questions to which this document responds, on the basis of the theoretical framework of gender studies.
The harmonization of policies for economic growth, social equity and gender equity is a challenge that can no longer be ignored.
Poverty is considered as the result of power relations that first of all affect men and women in a different way, but then also indigenous and Afro-descendent women, older adults and the inhabitants of certain areas. The multidimensional nature of this phenomenon is shown, as well as the virtues…
1 Abr 2004, 00:00 - 14 Oct 2025, 15:44
|
Publicación
In the fourth quarter of 2003, net capital flows to emerging markets accelerated sharply to reach a 3-year high of US$187 billion, a 50% increase from the US$124 billion reached in 2002. This increase is the result of the combination of abundant global liquidity, strong economic growth, and the improving credit quality of borrowers in both mature and emerging markets. Emerging markets were favored by moderate volatility, low risk-free interest rates and rising commodity prices. In addition, a weak US dollar, solid cash flows and search for yield supported the rally to Latin American countries.…
This paper provides an overview of the structure and performance of the Caribbean tourism sector. It evaluates the role of policies and strategies as they impact the growth and competitiveness of the sector. Although the paper is not definitive on the subject, it provides some initial work on aspects of the industry that are not the typical focus of research. These include industrial structure, evaluated in terms of size, concentration, economies of scale and scope, competition and market types, for example oligopoly. Further the paper, examines the concept of clusters as it applies to the in…
21 Oct 2003, 00:00 - 14 Oct 2025, 15:44
|
Publicación
In the first half of 2003, emerging debt markets rallied, as disillusionment with equities, geopolitical concerns, and doubts about growth prospects led investors to shift from equities in favor of fixed incomes securities. As equity prices in the United States struggled early in the year, and the price of U.S. Treasuries rose to a 40-year high, attention was drawn to emerging market assets. Emerging debt markets were driven by liquidity, rising risk tolerance, a search for yield and a wider investor acceptance of the asset class. As a consequence, credit spreads on emerging market bonds narr…
1 Ago 2003, 00:00 - 14 Oct 2025, 15:37
|
Publicación
The term rules of origin is an economic expression referring to a set of substantive rules for identifying the source of imported goods. As with any set of rules, certain formalities must be followed which entail public and private transaction costs. The public sector has to enforce the rules of origin and implement proper controls with a view to monitoring external trade in goods, minimizing budgetary expenditures and maximizing the collection of tax revenues, while at the same time facilitating international trade. Likewise, private agents involved in external trade in goods are requir…
With the first signals of a global economic recovery, prospects for private capital flows to emerging markets improved in the first quarter of 2002. Despite the concerns over corporate accounting practices in the U.S. and the deepening of the economic and financial crisis in Argentina, emerging equity and bond markets have outperformed those in industrialized countries. Emerging market equities and bonds in the first quarter of the year continued to show the strong performance that started in the fourth quarter of last year. The overall JP Morgan Chase EMBI+ excluding Argentina rose about 20%…