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Keywords:Latin America 

Working Paper
Exchange rate uncertainty and economic growth in Latin America

Working Papers , Paper 9338

Journal Article
Imbalances in Latin American fiscal accounts: why the United States should care

EconSouth , Volume 2 , Issue Q1 , Pages 14-19

Report
International trade and factor mobility: an empirical investigation

Foreign Direct Investment (FDI) has been growing rapidly, at a pace far exceeding the growth in international trade. Thus, a full understanding of the relationship between trade in goods and FDI is important for obtaining a complete picture of the extent and sources of international linkages. We investigate whether FDI serves as a complement to trade or a substitute for trade based on the effects identified by the Rybczynski theorem whereby an increase in a factor of production used intensively in one sector affects production both in that sector and in other sectors. Using detailed data on ...
Staff Reports , Paper 81

Journal Article
Economic policy trends in post-World War II Latin America

Recent economic disturbances in Latin America-particularly the currency crises in Mexico in 1994-95 and Brazil in 1998-99-have prompted significant research and debate over financial sector reforms and appropriate monetary and fiscal policy for the region. The recent discussion over dollarization is but one of many such debates. ; As the author of this article demonstrates, the current rethinking of economic policy in Latin America is only the latest chapter of a much longer story. Well before the recent episodes of financial turmoil, Latin American economies had already proven vulnerable to ...
Economic Review , Volume 84 , Issue Q4 , Pages 38-45

Working Paper
Crisis, contagion, and country funds: effects on East Asia and Latin America

Spillovers effects, from one country or region to other countries and regions, have attracted renewed attention in the aftermath of the Mexican crisis of December 1994. This paper uses data on closed-end country funds to study how a negative shock in Mexican equities is transmitted to Asia and Latin America, and to particular countries within each region. Country funds allow us to study the transmission to other fund net asset values (NAVs) and prices, which are traded in local stock markets in New York, respectively. The evidence indicates that shocks such as the Mexican crisis produce ...
Pacific Basin Working Paper Series , Paper 96-04

Report
Capital flows & current account deficits in the 1990s: why did Latin America & East Asian countries respond differently?

The return of private capital to highly indebted less-developed countries (LDCs) in the late 1980s was accompanied by widening current account deficits in the recipient countries, which were primarily attributed to a consumption boom in Latin America and an investment surge in East Asia. Interpreting the return as an increase in the external debt ceiling, the maximum amount that can be borrowed, this paper analyzes and compares the different response of the two regions using the conceptual framework of a borrowing-constrained agent. According to it, an increase in the debt ceiling can reduce ...
Research Paper , Paper 9610

Journal Article
Implications of the globalization of the banking sector: the Latin American experience

Foreign entry into domestic banking markets remains a contentious issue. Whether privatizing a state bank in Brazil or selling a failed bank in Japan, the proposed sale of a large domestic financial institution, possibly to a foreign acquirer, frequently results in a major controversy. Many Asian countries have yet to experience major foreign penetration of domestic banking markets, while Latin American countries have privatized many of their banks and have encouraged foreign banks to enter their domestic markets. ; Because many Latin American countries opened their markets during the 1990s, ...
New England Economic Review , Issue Sep , Pages 45-62

Working Paper
Domestic Policies and Sovereign Default

A model with two essential elements, sovereign default and distortionary fiscal and monetary policies, explains the interaction between sovereign debt, default risk and inflation in emerging countries. We derive conditions under which monetary policy is actively used to support fiscal policy and characterize the intertemporal tradeoffs that determine the choice of debt. We show that in response to adverse shocks to the terms of trade or productivity, governments reduce debt and deficits, and increase inflation and currency depreciation rates, matching the patterns observed in the data for ...
Working Papers , Paper 2020-017

Journal Article
Calvo says recent lessons yield positive Latin outlook

Economics Update , Issue Jul , Pages 7

Journal Article
Beyond the border : Latin American central banking

Southwest Economy , Issue Jul , Pages 12-13

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