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The purpose of this research paper is to investigate how technology has influenced the economic growth of developing countries and what steps are needed to be implemented in the regions of the world such as Latin America and Sub-Saharan Africa. The paper reflects the arguments and the conclusions brought up during the discussion with a student roundtable answering the general research question; 'Are certain developing countries doomed to remain emerging'? In answering this question, the group identified four factors for economic growth: (1) human resources, (2) natural resources, (3) physical capital and (4) technology. Of the four factors technology was the single most significant factor for economic growth in developing countries, although the others are just as important. The group concluded that countries that lead the world in generating advanced technologies and leveraging their full productive capacity can gain a strategic comparative advantage and become an advanced country. Innovation and entrepreneurship are crucial for long-term economic development.

This article explores the role of the Spanish legal ecology in maintaining social cohesion, bolstering the popular legitimacy of the imperial project, and setting the boundaries of economic development. Drawing the connections between Hapsburg and Bourbon governance through two (inconclusive) legal cases, the first lasting throughout the Spanish War of Succession (1700-1713), and the second occurring during the Seven Years’ War (1756-1763). The ambiguity of missing appeals and references to previous legal actions corresponds to the reality for Africans and their descendants in the Spanish Indies for whom there was rarely a clear endpoint in their dealings with the courts. The first case follows two sisters, Maria Josefa Copete and Lorenza Elena, as they defend their freedom against their half-brother. In the second case Nicolás Quintana, an African slave, fights to avoid being sent to the gold mines and separated from his family. [ABSTRACT FROM AUTHOR]

The ecological footprint is an indicator used in recent years to assess the accelerated process of environmental degradation experienced by countries. In particular, in regions or countries with high biodiversity, strong dependence on natural resources, high informality, and low productive specialization. We employ a set of quantitative techniques within the theoretical framework of convergence and found the existence of per capita ecological footprint clubs. In addition, we estimate a set of logistic regressions to obtain the average marginal effect of the determinants of the convergence clubs. We found that economic complexity, the shadow economy, and natural resources significantly influence the formation of convergence clubs. The results indicate the existence of convergence in three clubs, while two clubs are divergent. Environmental policymakers in this region should collectively mitigate environmental degradation and achieve sustainable development goals, particularly among the countries that make up the convergence clubs., (© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This study examines the association between air pollution and economic growth based on the idea of environment Kuznets curve (EKC) hypothesis which suggests an inverted U-shaped link between air pollution and economic growth in six different regions including Latin America and the Caribbean, East Asia and the Pacific, Europe and Central Asia, South Asia, the Middle East and North Africa, and Sub-Saharan Africa over the period 2000 to 2018. This regional classification is done to investigate the regional differences of the EKC relationship for carbon emissions. Models based on panel data econometric models are employed to obtain empirical results. Random effect and fixed effect models are used in the present study. A multivariate framework is used in which carbon dioxide emission, per capita gross domestic product, trade openness, foreign direct investment, primary school enrollment, financial development indicator, and institutional quality that is measured by six indicators are included. The result is that the EKC hypothesis is supported in all the abovementioned regions except in the Sub-Saharan Africa region. Thus, the hypothesis that different regions have dissimilar EKC relationships is supported through the results of this research study.

Most Latin American countries entered the ranks of middle-income levels almost simultaneously with Japan and South Korea. However, while Japan and South Korea embarked on the path of economic development through technological innovation and industrial upgrading, Latin America fell into the middle-income trap. By examining the history of industrial and technological development in Brazil, Argentina, and Mexico, three representative countries in Latin America, this paper finds that the fundamental reasons for Latin America falling into the middle-income trap lie in the tension between the choice of industrialization path and primitive accumulation, as well as the institutional deficiencies in technology and industrial development. Latin America, which has fallen into the middle-income trap, finds it hard to upgrade its technology and is trapped in premature industrialization and the middle-technology trap. It can be said that Latin America has fallen into a double trap, which reinforces each other and forms a solid trap pattern. The warning from the Latin American experience is that late-developing countries need to maintain an open attitude during the process of technological catching up, build a complete technological innovation system, enhance industrial and technological governance capabilities, and seize the window of opportunity for technological and industrial upgrading. Otherwise, there is a significant risk of falling into the middle-income trap and even the double trap. [ABSTRACT FROM AUTHOR]

Since the 1980s, inequality has been rising in Europe, North America and parts of Asia. How does our understanding of global inequality dynamics change if coverage is extended to the rest of the developing world? To rebalance the perspective on global inequality trends, this paper surveys data and literature on recent inequality trends in Latin America, Asia, Africa and the Middle East. It finds that in these regions there are more countries with falling than rising inequality over the past 20 years, as measured by Ginis of income or consumption inequality. At the global level, therefore, there are signs of inequality convergence, as inequality has been falling in countries with high inequality in the 1990s (particularly Latin America), and rising in historically low-inequality countries. We discuss the political and economic drivers of inequality decline in countries with a steady fall in the Gini. This suggests some common trends across the globe, including the role of democratisation, the rise of new social movements, and the expansion of education and social safety nets and favourable commodity prices, in reducing income disparities. This paper calls for more country-level comparisons of inequality trends, to highlight the multiplicity of paths in this latest phase of globalisation. [ABSTRACT FROM AUTHOR]

Copyright of Desarrollo Económico is the property of Instituto de Desarrollo Economico y Social and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The benefits of financial inclusion could be particularly important in Latin America, where the levels of ownership and use of different instruments lag behind those of developed countries. An improvement in the ownership and use of formal financial instruments could result in a reduction in informality, the promotion of formal savings and productive credit, and, therefore, an inclusive economic growth. The objective of this paper is to analyze the financial inclusion of a group of Latin American countries in order to detect the most used financial instruments and the main socioeconomic determinants that explain their ownership or use. At the same time, the evolution of the main variables was also studied for the years 2011, 2014, 2017 and 2021. Micro-data from the Global Findex database was examined (except for 2021, in which only macro-data are available). Statistical models and multivariate econometrics are applied to understand the individual socioeconomic characteristics of people who are still very unlikely to own and use formal financial instruments. Finally, the main reasons for not having an account were analyzed in order to delve into the main restrictions on which the financial market must focus to achieve greater financial inclusion. [ABSTRACT FROM AUTHOR]

Purpose – This paper aims to understand the relationship in developing countries between fiscal consolidation and public investment – a flexible part of the budget that is easier to cut during consolidation effort, but with potentially negative growth effects. Analyzing in detail the case of Peru, the paper explores alternative fiscal rules and frameworks that might help create fiscal space for infrastructure investment. Design/methodology/approach – The paper analyses trends in public and total infrastructure investment in six large Latin American economies, in the light of fiscal developments since the early 1980s. In particular, the paper explores the association between fiscal consolidations (improvements in the structural fiscal balance) and public infrastructure investment rates. In the second part, the paper analyzes recent changes in the fiscal framework of Peru and shows how they were conductive in creating additional fiscal space. Findings – The authors argue that post-crisis fiscal frameworks, notably fiscal rules that are increasingly popular in the region, should not only consolidate the recent progress towards debt sustainability, but also create the fiscal space to close these infrastructure gaps. These points are illustrated in a detailed account of recent developments in the fiscal framework and public investment in the Peruvian case. Originality/value – The paper contributes new evidence to the literature on fiscal consolidation and the composition of government expenditures. While the literature based on evidence from the 1990s has argued that fiscal consolidation plans in Latin America have almost always led to a significant reduction in public infrastructure investment, the paper finds less clear cut evidence when extending the analysis backwards (1980s) and forwards (2000s). The example of the case of Peru is used to explore fiscal institutions and rules that might be useful for other developing countries that face important infrastructure gaps. [ABSTRACT FROM AUTHOR]

While formal institutions are considered rather stable in Western countries, the same cannot be said of those in Latin America and the Caribbean (LAC). In LAC, these institutions are superseded by nonformalized but deeply embedded practices—especially of political favoritism. Accordingly, this paper explores how members of parliament in LAC favor their birth regions by providing clientelistic goods and services to their constituents. The paper shows that the development of subnational regions is affected by their proximity to parliament leaders' birthplaces. We collect data on 366 political leaders' birth locations over 1992–2016 and construct a panel of approximately 183,000 subnational micro–regions across 45 LAC countries/autonomous territories. Our results show that incumbent parliament leaders favor regions near their birthplaces, as measured by night light emissions and World Bank aid. This favoritism is enabled by the patterns of formal institutional weakness, and de jure plus de facto influence given to the parliament by the particularly unstable constitutions of LAC countries. • In LAC, institutions are often overshadowed by non–formalized but deeply embedded corrupt practices such as favoritism. • This study shows how the development of subnational regions is affected by their proximity to parliament leaders' birthplaces. • It comprises approximately 183,000 subnational micro–regions across 45 LAC countries/autonomous territories. • Data was collected on 366 political leaders' birth locations over the years 1992–2016. • Leaders of parliament in LAC favor their birth regions by providing clientelistic goods and services to their constituents. • Not just presidents but also parliament leaders engage in regional favoritism. [ABSTRACT FROM AUTHOR]

The particular location of port infrastructure holds characteristics that determine the activity of the port, both with respect to traffic and with respect to implementing competitive strategies; and the efficiency and efficacy of infrastructure depend on the governance systems that regulate the ports. Likewise, the development of port activity echoes in the regional economy as well, hence governance becomes integral to maximizing the impact of ports on their region's economic development. However, the activity of a port transcends the domestic/regional frontiers, as long as the port intends to take part in a global supply chain. Achieving this aim poses a challenge on the authorities that govern port activity, and this challenge needs to be seized when it comes to adjusting the governance to external and internal goals. In the specific case of the analysed ports, the prevailing governance model is known as Landlord, which differs noticeably from port to port. These differences make it possible to distinguish the orientation of European ports from that of the analysed Latin American ports, showing a dissimilar adjustment of the conception of governance that followed objectives that were not simultaneous. The paper draws forth a questioning of the uniqueness of the denomination Landlord and its legitimacy given the new challenges. Furthermore, the paper opens the way to understanding the need to adapt governance to changes, given the examined experiences. The analysis covers the following cases: Argentina, Brazil, Chile, Colombia, France, Italy, Portugal and Spain. [ABSTRACT FROM AUTHOR]

The paper discusses and tests the importance of institutions, geography, and terms of trade in Latin America during the Washington Consensus (WC) reform years. The paper argues that the WC overlooked these three important factors of growth, known as the "deep determinants of growth." The paper discusses the history and failures of the WC and creates an empirical test to determine the importance of the omitted growth factors. The empirical section uses a large panel data set and employs the Hausman-Taylor (1981) estimator to account for time-variant and time-invariant variables. The data includes several measures of institutions, geography, and terms of trade to provide broad evidence. Our results are consistent with the previous literature, showing that institutions are important to growth. Once institutions are controlled for, measures of geography have statistically weak direct effects on income per capita. The paper shows that both openness to trade and an overvalued real exchange rate are detrimental to growth in Latin America. These results provide evidence that institutions and terms of trade are vitally important to Latin American growth, and should not have been ignored by WC policy advisers. [ABSTRACT FROM AUTHOR]

In the past decade, Chinese involvement in Latin American infrastructure development has increased dramatically. The influx of Chinese investment along with Chinese construction workers, engineers, and equipment has led scholars and observers to question whether there a distinct model of Chinese infrastructure development. Does China take an integrated approach in Latin America — financing, designing, and executing projects — or does it operate as any other foreign country or company? We develop the concept of infrastructure dominance to answer these questions. Using data on over 400 of the most important public infrastructure projects, we find that China's involvement in projects varies based on the existing institutional constraints of the host country. Where countries have strong institutions, Chinese companies play a role similar to that of other foreign entities involved in infrastructure development. In Latin American countries with weak infrastructure institutions, however, China plays a very different role — it tends to dominate projects. Thus, this paper highlights the adaptability of the Chinese approach and the importance of domestic institutions for shaping the nature of infrastructure development. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to analyze the performance and the relationship between competitiveness, real gross domestic product (GDP) growth and human development in 20 countries of the Latin America and Caribbean region during the 2006-2015 period. The main argument to uphold here is that – from the perspective of virtuous circle – countries with better conditions of competitiveness are those with better economic performance and with better conditions for human development.Design/methodology/approach Time series data were organized at three levels: individual countries, groups of nations and Latin America and Caribbean as a whole. Indicators used were: index of competitiveness, rates of change in real GDP and Human Development Index. Cluster analysis tests were performed: data ranges were determined and quintiles were established. Countries were ranked in five categories and comparative position matrices were determined for each variable. Linear correlations between indexes were calculated. Linear correlation coefficients were determined in terms of groups of countries and considering Latin America and Caribbean as a whole.Findings Findings revealed that decreasing conditions in competitiveness and economic growth indicators are the representative situation since 2009. The most competitive country in the region is Chile, and the weakest is Venezuela. Nevertheless, all Latin American and Caribbean countries analyzed seem to have made progress in terms of human, economic and social development. Regarding correlations, Dominican Republic showed an inverse relationship between competitiveness and economic growth, while Jamaica and Venezuela showed inverse relationships between competitiveness and human development. At the individual country level, no statistically significant relationship between economic growth and human development was detected.Research limitations/implications Findings highlight the necessity of future research that result in a deeper understanding of the transmission mechanisms between economic and social performance in Latin American and Caribbean countries. Particular reasons at the micro level that explain improvements or deteriorations in competitiveness and human development must also be analyzed. Based on the degrees of freedom, time series could have included more years, but a lack of information was found for some countries. It would also be necessary to observe each particular case considering the type of economy, production characteristics and export/import composition.Practical implications Results complement the existing literature by exploring competitiveness and its relationship with economic and social variables in developing countries. The authors also believe that this paper is relevant for macroeconomic and social policy debates involving competitiveness and human well-being in this region of the world.Originality/value This paper supports an important argument: human well-being and national development must be the ultimate goal of competitiveness. Traditional literature focuses on levels and determinants of competitiveness in developed countries, but it usually does not take into account social and human aspects of the process in developing countries. Little attention has been paid to analyze the relationship between competitiveness and socioeconomic variables in developing countries. Methods and findings of this paper complement the existing literature by studying the relationships among competitiveness, real GDP growth and human development in Latin American and Caribbean countries, using correlation analysis. [ABSTRACT FROM AUTHOR]

Copyright of Revista Internacional del Trabajo is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

A large theoretical and empirical literature has focused on the impact of financial deepening on economic growth throughout the world. This paper contributes to the literature by investigating whether this impact differs across regions, income levels, and types of economy. Using a rich data set for 150 countries for the period 1975-2005, dynamic panel estimation results suggest that the beneficial effect of financial deepening on economic growth in fact displays measurable heterogeneity; it is generally smaller in oil exporting countries; in certain regions, such as the Middle East and North Africa (MENA); and in lower-income countries. Further analysis suggests that these differences might be driven by the degree of competition, and related to differences in the ability to provide widespread access to financial services. [ABSTRACT FROM AUTHOR]

In 1990, the participation of China in the global imports of Latin America (LAC) was incipient, while by 2019, China had become the second largest supplier of the region. This paper uses a sample of 14 LAC countries, estimates the effects of imports from China on each LAC country's economic growth, and verifies if these effects are evidenced in these countries' non-exporting or exporting sectors. This study proposes a Seemingly-Unrelated-Regressions (SUR) system for each sector. Results show that before China entered into World Trade Organization (WTO), LAC imports from China positively affected the economic growth of some LAC countries. However, beneficiary countries increased after China's adhesion to WTO. Imports from China drive the economic growth of the non-exporting sectors of Argentina, Costa Rica, Ecuador, and El Salvador, the exporting sector of the Dominican Republic, and both sectors of Brazil, Chile, Colombia, Peru, Uruguay, and Venezuela. Except for the Dominican Republic, the countries whose export sectors benefit from China's imports are primary exporting countries. Adverse or null effects are estimated for the rest of the countries. [ABSTRACT FROM AUTHOR]

This paper considers economic development in Puerto Rico following its annexation by the United States in 1898, a watershed moment in the history of the island and the pinnacle of American imperialism in Latin America. Drawing on data from three surveys, I show that male height in Puerto Rico increased at more than twice the average rate for Latin America and the Caribbean between 1890 and 1940. I also show that Puerto Ricans at mid-century were among the tallest Latin Americans outside of Argentina and Uruguay. The evidence supports the conclusion that conditions improved substantially after US annexation, in contrast to the prevailing view in the literature., (Copyright © 2020 Elsevier B.V. All rights reserved.)

Policymakers in Latin America need to internalize the economic challenges associated with the recent expansion of higher education in the region, which has been carried out at a rapid pace and with weak quality assurance mechanisms. To achieve a more promising future than past generations, current college graduates need more than just any degree. We argue that only high-quality programs designed to effectively equip students with the skills to succeed in the modern labor market will alleviate the intergenerational transmission of inequality in the region. This paper seeks to shed light on this critical issue. [ABSTRACT FROM AUTHOR]

A panel causality analysis is made in this paper, among the following variables - electricity consumption (proxy to energy consumption), per capita real GDP, trade openness and urbanization The analysis comprises the subsequent stages- at the initial step, test procedure is conducted to test if the respective variable encompasses a unit root, if the variables contain unit root then test for long run cointegration relationship is examined among the variables. If a long run relationship is established then the error correction model is framed and finally the causal relationship is inferred across the variables. The procedure is based on the methodology developed by Westerlund (2007). The countries utilized in the study are a group of Latin American countries and South East Asian countries. The reason for choosing these two sets of countries, namely Latin American countries and South East Asian countries are based on their symbiotic economic relations. For the full sample the results provides support to the growth hypothesis which confirms the importance of energy for sustaining the growth process. Moreover planned urbanisation process would enable to use judiciously the electricity for future growth in these countries. [ABSTRACT FROM AUTHOR]

This paper explores the relationship between ground rent, production and knowledge in Ecuador's neo-structuralist, state-led project to transform the productive matrix. Based upon insights from the Marxian approach to the critique of political economy, we interrogate how neo-structuralism has conceptualised the relationship between 'natural resource income' and 'knowledge-based' economic development. The paper argues that a rent-theoretical perspective, which takes seriously the regional unfolding of uneven geographical development in Latin America, can highlight the limits of a national development plan conceived according to the logic of Schumpeterian efficiency. In doing so, the paper identifies the contradictory relationship between natural resource exports, state-led 'knowledge'-based development and capital accumulation. On this basis the paper offers a historically and empirically informed critical analysis of selective import substitution industrialisation and vanguard science and technology strategies designed to transition Ecuador away from primary resource dependence. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to deploy an export dependency index to identify the sectors and countries in Latin America which are most exposed to fluctuations in Chinese demand. Bilateral trade between China and Latin America has grown very quickly in the past decade. As a consequence, economic relationships with Latin America intensified tremendously, as growing demand for resources drove China into relatively unexplored frontiers.Design/methodology/approach The Index measures the relative exposure of Latin American exporters to shifts in demand from China and is scaled from 0 to 1 (the higher the score, the more exposed an exporter is to disruptions of trade with China). The authors undertook the analysis using six-digit trade figures from the United Nations COMTRADE database (Harmonized System 2007 nomenclature) to ensure granularity and consistency and contrasted their results across two points in time, 2008 and 2014. The analysis was very comprehensive, covering the products that accounted for 80 per cent or more of all exports to China in 2014, for all countries in Latin America and the Caribbean.Findings According to our estimates, dependency on China increased overboard across Latin America for all countries and all sectors between 2008 and 2014. Absolute dependency levels were highest in Costa Rica, Colombia, Uruguay, Venezuela, Brazil, Panama, Peru, Chile, Guyana and Argentina. Of these, the largest exporters to China, namely, Brazil, Argentina, Chile, Peru, Colombia and Venezuela, featured high dependencies concentrated around just four commodities: soy in the form of soybeans and soybean oil; crude oil; copper in the form of copper ore, copper cathodes and unrefined copper; and iron ore. These four commodities accounted for 80 per cent of the regions’ total exports to China.Originality/value This is one of few studies that look into Latin America’s commodity export dependency on China at such granular level. [ABSTRACT FROM AUTHOR]

This paper investigates the cumulative production of knowledge about the development of Latin America, in general, and Argentina, in particular, from the case of Economic Development, in the period 1958-1975. The author proposes, through a conceptual theoretical analysis, that the accumulation of knowledge is evidenced by gradually posing new analysis variables and questions. Between 1958 and 1959, a central problem was the transformation of an agrarian productive structure into an industrial one. Between 1961 and 1969, the above is assumed, and includes social and political aspects of Latin American underdevelopment. Between 1970 and 1975, the magazine publishes discussions on dependency and on some specific experiences of underdevelopment, condensing problematizations and findings from the two previous periods. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to analyse the relationship between infrastructure and total factor productivity (TFP) in the four major Latin American economies: Argentina, Brazil, Chile, and Mexico. Design/methodology/approach – The authors hypothesise that an increase in infrastructure has an indirect effect on output by raising productivity. To assess this theory, the traditional Johansen methodology was used for testing the cointegration between TFP and physical measures of infrastructure stock, such as energy, roads, and telephones. The Lütkepohl, Saikkonen and Trenkler Test, which considers a possible level shift in the series and has better small sample properties, was applied to the same data set and the two tests were compared. Findings – The results do not support a robust long-term relationship between the series; the authors do not find strong evidence that cuts in infrastructure investment in some Latin American countries were the main reason for the fall in TFP during the 1970s and 1980s. Originality/value – The present paper addresses the empirical relationship between infrastructure and economic growth for Argentina, Brazil, Chile, and Mexico between 1950 and 2000, using new time series econometric methods finding new evidences on this relationship. [ABSTRACT FROM AUTHOR]

The author comments on the study made by Leonardo Gasparini, Guillermo Cruces, and Leopoldo Tornarolli, which reports on the trends in income inequality across Latin American and Caribbean countries between 1990 and 2005. He says the researchers present some informed conjectures about the factors that may be behind the observed patterns in the region, which, being conjectures, need more research. He believes it is worth exploring the effects of income inequality on different measures of economic performance such as economic growth and aggregate activity.

Partnerships are increasingly becoming unpopular in Latin America, they have narrowly been analysed in the context of the international political agenda and criticized for bringing benefits only to the private sector and not to the public sector and society at large. Nevertheless, there are successful experiences for providing water and sanitation at local level. The questions are: Are local level successful experiences the product of a partnership? Was it necessary to build partnerships to add value to the community presence and informal actors? What are the advantages of partnerships at local and national scale? The case studies presented demonstrate that actors need to have an incentive to work together and to build trust. The context in which they operate is also relevant, and in Latin America it is needed a strong national legal institutional framework if partnerships or any agreement should be an alternative to public delivery of water and sanitation. This paper analyses the context in which water and sanitation is delivered in peri-urban areas based on case studies, identified actions for effective provision and on discussion of the institutional framework options and partnership implementation at local and national level. This paper does not advocate partnerships per se; nor are these seen as the problem. [ABSTRACT FROM AUTHOR]

The objective of this paper is to discuss the conditions of production and circulation of the book to understand the success and impact of Dependency and development in Latin America. Firstly, we highlight in which sense this book belongs to a broader intellectual tradition, i.e., the interpretative essays on Brazilian reality. Secondly, we investigate the transnational institutional trajectories of its authors that enable them to develop the comparative analytical perspective of the book. Finally, we reconstruct the publishing history of the book. [ABSTRACT FROM AUTHOR]

This paper provides new estimates of the effects of left-of-center populist regimes on economic developments in the 21st century in Latin America. In contrast to earlier research, we take account of the price shocks that may also have affected economic development during these regimes' time in office. In general, we find that left-populist regimes reduced per capita real income in both the short and long run, after accounting for those price shocks. [ABSTRACT FROM AUTHOR]

Copyright of Journal Public Administration & Social Management / Administração Pública e Gestão Social is the property of Administracao Publica e Gestao Social and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this paper I analyse the role of openness and globalisation in Latin America's economic development. The paper is divided into two distinct parts: I first ( Sections 2 to 4 ) provide an analysis of 60 years of the region's economic history, that go from the launching of the Alliance for Progress by the Kennedy administration in 1961, to the formulation and implementation of the market oriented reforms of the Washington Consensus in the 1990s and 2000s. I conclude that Latin America's history has been characterised by low growth, high inflation and recurrent external crises. In Section 5 I deal formally with the costs of crises and I estimate a number of variance component models of the dynamics of growth. I find that external crises have been more costly in Latin America than in the rest of the world. I also find that the cost of external crises has been inversely related to the degree of openness. [ABSTRACT FROM AUTHOR]

A fully opened capital account, a pure floating exchange rate, and inflation-targeting monetary policy is the macroeconomic setting currently recommended in Latin America by the International Monetary Fund and the orthodoxy. In this paper, we present an alternative macroeconomic regime proposal focused on growth and employment. A competitive real exchange rate, as an intermediate target, is an essential component of the regime. The paper argues in favor of the proposed policies by showing that they are viable and manageable and also discusses some possible objections from the mainstream or orthodox approach. [ABSTRACT FROM AUTHOR]

This paper studies the growth effects of productive public expenditures on education and public capital in an endogenous growth model of overlapping generations. The model is calibrated to Latin American data, and the effects of raising government expenditures on education and public capital are computed. Results show that increases in these public expenditures have moderate, positive effects on per capita growth and income under different scenarios. In addition, re-allocating expenditures from public capital to education while keeping the budget constant can raise growth up to a threshold. [ABSTRACT FROM AUTHOR]

This paper tests empirically the Balassa-Samuelson (BS) hypothesis (i.e. rapid economic growth is accompanied by real exchange rate appreciation because of differential productivity growth between tradable and non-tradable sectors) using annual data for twenty Latin American countries. The paper applies new panel data unitroot tests proposed by Im et al. (Discussion paper, University of Cambridge, June 1997) and new panel data cointegration techniques suggested by Pedroni (Oxford Bulletin of Economics and Statistics, 1999) and the results are compared with those obtained with conventional time series unit-roots and cointegration tests. The main finding is that whereas a standard time series approach rejects the Balassa-Samuelson hypothesis for 11 countries out of 20, new panel cointegration techniques permit the rescue of this hypothesis for Latin American countries, as well as for Central American and South American groups of countries considered separately. [ABSTRACT FROM AUTHOR]

This paper examines the sources of economic growth for a group of Latin American countries in relation to their export performance in China. The analytical framework is based on an extended normalized quadratic profit function. The ensuing econometric results confirm that a favorable export record with China represents a positive source of growth for Latin America. However, it also creates long-run dependability conditions in terms of reduced prices and thinner profits that weaken its growth capacity. Latin American countries must seek product diversification away from their current commodity base and aggressively climb up the value chain to remain competitive worldwide. Managerial Relevance: identify the sources of economic growth for a group of Latin American countries in relation to their export performance in China; the weakness of this economic growth model; how to seek product diversification away from their current commodity base with emphasis on value chain. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía (Universidad Autónoma de Yucatán) is the property of Universidad Autonoma de Yucatan, Facultad de Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The 1980s were both the lost decade of growth for much of Latin America and Africa and the period in which--through the new growth theory--macroeconomists returned to the study of growth and development. The new growth theory is production function driven and concerned primarily with steady states, and has paid little attention to the role of macroeconomic policy--as reflected for instance in the rate of inflation and the budget deficit--in determining growth. This paper presents a variety of evidence that macroeconomics policies matter for long-run growth. First, macroeconomic variables enter the typical new growth theory cross-country regressions with statistical significance and the expected signs. Second, evidence from large multicountry case studies, and from case studies of Chile and Côte d'Ivoire presented in the paper, shows that macroeconomic policy choices have had a significant impact on growth over periods of more than a decade. The conclusion is that macroeconomic policy choices, including the budget deficit, the exchange rate system, and those choices that determine the inflation rate, matter for long-term economic growth. [ABSTRACT FROM AUTHOR]

Performance Audits are among the competences of many Supreme Audit Institutions (sais), both in developed and developing countries. However, the level of real implementation of this technique in Latin America is underexplored. This paper aims to contribute to the analysis of the implementation of performance audits in Latin-American countries. This paper analyzed the situation of performance auditing in Latin America through a comparative study based on the evidence obtained from the websites of the sais and on a questionnaire sent to them. Results show a common rhetoric with respect to the importance of this technique but variations in practice. These variations can be explained by three reasons: rhetorical implementation, lack of fit between this technique and the problems facing Latin American countries and different levels of political and economic development. Access to information is quite difficult, fears to answer the questionnaire and lack of accessibility to the reports makes having a full picture a daunting task. Latin American sais should reevaluate the type of performance audit that suits their aims and adapt rather than adopt the tools developed in countries with different problems in public management. This paper offers a broad view of performance audit in Latin America. It reflects the effort of international organization and the limitations that performance audits confront in certain settings. [ABSTRACT FROM AUTHOR]

Copyright of Anuario de la Sociedad Argentina de Historia de la Educación is the property of Argentinean Society of History of Education and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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Official reserves have increased to unprecedented levels since the mid-1990s, particularly in developing economies. One of the reasons ascribed for accumulating official reserves is the so-called mercantilist motive. This motive is seen as a part of an active industrial policy in the sense that these resources allow the monetary authorities to maintain a stable and undervalued real exchange rate, promoting economic growth and development via the tradable goods sector. In this paper we attempt to assess this motive using data for ten selected Latin American economies during the period 1996–2011. Unlike most previous work done on this topic, we consider official reserves as one of the determinants of the real exchange rate. Our econometric findings indicate that international reserves in the region appreciate the real exchange rate. This result suggests that the strategy of hoarding reserves in Latin America has not promoted economic growth and development. [ABSTRACT FROM PUBLISHER]

Purpose -- The Latin American region experienced an electoral shift to the political left during the 2000s but this leftist shift did not radically alter the political economy of the region. Following Jessop's (2008) strategic-relational approach to theorizing about the state, this paper focuses on the perspective that the structure of the state is both an outcome of prior social struggles and a structuring mechanism for the social actors that attempt to enact political and economic reforms. Methodology/approach -- After demonstrating what this has historically meant for the types of state that have existed in Latin America during the past century by reviewing some of the literature on the corporatist and bureaucratic-authoritarian states and clientelism, this paper argues that the neoliberal reforms of the 1980s and 1990s constituted a new type of state -- the Latin American neoliberal state. This analysis is then focused on the literature that seeks to describe the new lefts in the region, while continuing to focus on the role of the neoliberal state in structuring these new lefts' terrain of struggle. Findings -- Understanding the new lefts in Latin America and the types of reforms that they are capable of making requires that we better understand this new type of state. Due to the structural limitations imposed by the neoliberal state, the lefts are not able to radically alter the region's political economy. [ABSTRACT FROM AUTHOR]

The paper briefly examines the literature that criticises the Millennium Development Goals (MDGs) from a Latin American perspective. It presents some key stylised facts of development from the contemporary history of the region. It focuses on three structural features of Latin American development, namely, inequality, conflict and low State capacity. Finally, it discusses the relevance and adequacy of some MDGs and targets based on the theoretical criticisms and empirical evidence examined earlier. It concludes by offering suggestions for the post-2015 global development agenda. Copyright © 2015 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Purpose -- This study aims to enhance the knowledge that managers and scholars have on franchising expansion. In this sense, it is worth mentioning that although the body of literature on international management focusing on emerging markets is growing, the attention paid to the Latin American context continues to be limited. This is surprising given the substantive economic importance of the region with a population over 590 million, and a gross domestic product of approximately US$5 trillion. To cover this gap, the present study examines how a number of market conditions may drive diffusion of franchising into Latin America: geographical distance, cultural distance, political stability and economic development. The authors also controlled for the host country's market potential, transparency, unemployment rate and efficiency of contract enforcement. Design/methodology/approach -- This study uses a quantitative approach applied to a sample of 77 Spanish franchisors operating through 4,064 franchisee outlets across 21 Latin American countries in late 2012. They are: Argentina, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Bolivia, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Uruguay and Venezuela. Findings -- Results conclude that geographical distance between the host and home countries, as well as the level of host country's political stability, economic development, market potential and transparency are able to drive the spread of international franchising across Latin American nations. Research limitations/implications -- This study provides readers with a general overview of the current state of global franchising diffusion overseas. Results obtained in this study are useful for understanding and predicting the demand for franchising in Latin American countries. Practical implications -- Economics reports argue that by 2050, the largest economies in the world will be China, the USA, India, Brazil and Mexico. This fact highlights the substantive importance of Latin America for foreign investors willing to expand their business abroad. In an attempt to give insights from the Latin American context, the present paper develops and tests a model that can be useful to franchisors willing to establish new outlets in the region. In addition, our findings offer guidance to firm managers seeking to target their franchises in Latin America. Franchisors may then use the results of this study as a starting point for identifying such regions whose characteristics best meet their needs of expansion. Originality/value -- This paper explores how market conditions may drive international diffusion of franchising into Latin American markets. The scant theoretical or empirical attention given to this topic has usually been examined from the USA and British base and focused on developed markets. To fill this gap, the present study analyzes the international spread of the Spanish franchise system into Latin America as a market for franchising expansion. [ABSTRACT FROM AUTHOR]