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52. Trade Policy Options for Chile: A Quantitative Evaluation
- Author:
- Glenn W. Harrison and Thomas F. Rutherfod
- Publication Date:
- 05-1997
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- This paper examines the net economic benefits and government revenue implications for Chile of forming a free trade area with MERCOSUR as an associate member, forming a free trade area with NAFTA, and reducing its external tariff multilaterally and unilaterally. The research shows that NAFTA would benefit Chile, but Chile must obtain improved access in non-grain crops, one of its key export sectors, or NAFTA will result in losses for Chile. Chile will lose from the MERCOSUR agreement as presently constituted but can gain from participation in MERCOSUR by reducing its external tariff to between 6 percent and 8 percent. Such a lowering of the external tariff would lead to a reduction of costly, trade-diverting imports (on which Chile does not collect tariffs) from high-priced partner country suppliers. The paper indicates that Chile should continue to push for NAFTA membership, while moving toward broader multilateral trade liberalization. Additionally, collecting the value added tax at more uniform rates in Chile would reduce domestic distortions and enhance the effectiveness of trade policy reforms.
- Topic:
- Economics, International Organization, and International Trade and Finance
53. Privatization and Regulation: Lessons from Argentina and Chile
- Author:
- Luigi Manzetti
- Publication Date:
- 04-1997
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Some economists have argued that before governments privatize state-owned monopolies in public utilities, they should first try to promote competition. If this is not done, privatization does not produce gains in economic efficiency; instead, it fosters rent-seeking behavior by the new private ownership. Few empirical analyses of rent-seeking behavior for Latin America in post-privatization environments have been done — those that exist concentrate on economic issues and neglect important political motivations. The purpose of this paper is to fill that gap and address key issues of public policy by examining the cases of Chile and Argentina and providing a political explanation for why the Chilean and Argentine governments allowed rent-seeking behavior in important public utility markets. Based upon an analysis of these experiences, the paper then discusses the types of institutions most likely to avoid such negative consequences.
- Topic:
- Economics, Government, and Political Economy
54. Private Investment as a Financing Source for Microcredit
- Author:
- Carter Garber
- Publication Date:
- 01-1997
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- In this paper, economist and development finance consultant Carter Garber examines the process of complementing donations and commercial bank credit with private investments as a source of capital for international microenterprise finance. First, he describes the large expectations for private capital in the rapid growth of microenterprise finance. Second, Garber discusses the varied sources of private capital, especially those involving socially responsible investment. The third and central section is an examination of eight “socially responsible investment” mechanisms that currently channel $27 million of U.S. private credit to microfinance lending institutions. Garber demonstrates the variety of available mechanisms and examines their track record to date. The final section identifies policy changes that will be necessary for these types of private investment in microenterprise to grow fast enough to meet the expected demand during the coming decade.
- Topic:
- Economics and International Trade and Finance
55. Caribbean Basin Economic Development and the Section 936 Tax Credit
- Author:
- Richard L. Bernal and Stephen E. Lamar
- Publication Date:
- 12-1996
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- In 1986, as part of a major overhaul of the U.S. tax code, the U.S. Congress made a valuable source of private sector financing available for Caribbean economic development. Less than 10 years later, as part of a series of measures to balance the U.S. federal budget and enact a package of tax cuts for small businesses, the Congress approved legislation to terminate this source of funds for the Caribbean.
- Topic:
- Security, Foreign Policy, Development, and International Cooperation
- Political Geography:
- United States and Caribbean
56. Intellectual Property, Trade, and Economic Development: A Road Map for the FTAA Negotiations
- Author:
- Carlos A. Primo Braga and Robert M. Sherwood
- Publication Date:
- 09-1996
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Intellectual property (IP) protection is becoming increasingly crucial in the context of new international commitments, the competition for private investments, and global “technology racing.” This paper examines the common base for a Western Hemisphere IP arrangement and notes the most prominent existing regional integration accords that include IP commitments. It assesses the recent Trade Related Intellectual Property (TRIPS) Agreement negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade (GATT).
- Topic:
- Development, Economics, International Law, and International Trade and Finance
57. The Politics of Free Trade in the Western Hemisphere
- Author:
- Manuel Pastor and Carol Wise
- Publication Date:
- 08-1996
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Just as the 1980s now stand out as the decade of the debt crisis in Latin America, the 1990s have become the free trade decade. After a number of failed attempts at trade liberalization during the 1970s, many states in the region now have made dramatic progress in their efforts to reduce tariffs and eliminate quantitative restrictions (QRs) (see Table 1). The strongest evidence of this new openness is reflected in Mexico's 1994 entry into the North American Free Trade Agreement (NAFTA) with the United States and Canada, the stated intention at the 1994 Summit of the Americas in Miami to develop a plan for the full expansion of hemispheric free trade, and the ongoing consolidation of such subregional trade pacts as South America's Southern Cone Common Market (MER - COSUR), including Argentina, Brazil, Paraguay, and Uruguay.
- Topic:
- Development, Government, Industrial Policy, and International Trade and Finance
- Political Geography:
- United States, Canada, Brazil, South America, Uruguay, Caribbean, North America, and Paraguay
58. The Binational Center and U.S. Foreign Policy
- Author:
- Louis P. Falino
- Publication Date:
- 06-1996
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- The binational center (BNC) has been one of the most successful elements in U.S. cultural programs overseas and, as such, has made important contributions to U.S. foreign policy. Through the historical study of binational centers, one sees that contemporary issues in cultural relations and public diplomacy have been dealt with on many occasions in the past, and they resurface according to the demands of the moment. This historical study of BNCs thus provides a way of reflecting upon and reconsidering perennial issues involving cultural programs and the effective conduct of U.S. foreign policy.
- Topic:
- Foreign Policy and International Cooperation
- Political Geography:
- United States
59. Strategic Global Repositioning and Future Economic Development in Jamaica
- Author:
- Richard L. Bernal
- Publication Date:
- 04-1996
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Strategic global repositioning is a process of r epositioning a country in the global economy by implementing a strategic plan. Such plans are designed to consolidate and improve existing production lines while reorienting the economy toward new types of economic activities. In most developing countries, this involves structural transformation (not adjustment) to achieve economic diversification, including export diversification. The need for strategic global repositioning derives from trends in the global economy that portend limited opportunities for industrialization in developing countries.
- Topic:
- Development, Economics, International Trade and Finance, and Political Economy