Search

Begin New Search Topic Economics Political Geography Latin America

211. Financing Democracy in the Americas

Publication Date:
05-2004
Content Type:
Working Paper
Institution:
The Carter Center
Abstract:
Citizens throughout the hemisphere increasingly question the integrity of political processes with opaque methods of financing and access. After a quarter-century of democratic governance, money-conscious voters in Latin America's troubled economies have begun to ask whether elections really allow them to hold governments accountable for enacting promised reform s or whether instead politicians respond primarily to the special interest groups who fund their campaigns. Democracy remains a valued good, but questions are being asked about how much it costs, who pays, and whether the need to raise funds distorts policy agendas.
Topic:
Democratization, Economics, and Politics
Political Geography:
Latin America and Central America

212. A Short History of the Washington Consensus

Author:
John Williamson
Publication Date:
09-2004
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
The term “Washington Consensus” was coined in 1989. The first written usage was in my background paper for a conference that the Institute for International Economics convened in order to examine the extent to which the old ideas of development economics that had governed Latin American economic policy since the 1950s were being swept aside by the set of ideas that had long been accepted as appropriate within the OECD. In order to try and ensure that the background papers for that conference dealt with a common set of issues, I made a list of ten policies that I thought more or less everyone in Washington would agree were needed more or less everywhere in Latin America, and labeled this the “Washington Consensus.” Little did it occur to me that fifteen years later I would be asked to write about the history of a term that had become the center of fierce ideological controversy.
Topic:
International Relations, Debt, Economics, and Politics
Political Geography:
Washington and Latin America

213. Well-being and the Complexity of Poverty: A Subjective Well-being Approach

Author:
Mariano Rojas
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This investigation studies human well-being from a subjective well-being approach. On the basis of a Mexican database the investigation shows that there is a weak relationship between subjective well-being and indicators of well-being such as income and consumption. Therefore, subjective well-being provides additional useful information to study human well-being and, in consequence, poverty.
Topic:
Economics, Human Welfare, and Poverty
Political Geography:
Latin America, Central America, North America, and Mexico

214. Promoting the Rule of Law Abroad: The Problem of Knowledge

Author:
Thomas Carothers
Publication Date:
01-2003
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
Although the current rule-of-law promotion field is still expanding as it approaches the end of its second decade, it still faces a lack of knowledge at many levels of conception, operation, and evaluation. There is a surprising amount of uncertainty, for example, about the twin rationales of rule-of-law promotion—that promoting the rule of law will contribute to economic development and democratization. There is also uncertainty about what the essence of the rule of law actually is—whether it primarily resides in certain institutional configurations or in more diffuse normative structures. Rule-of-law promoters are also short of knowledge about how the rule of law develops in societies and how such development can be stimulated beyond simplistic efforts to copy institutional forms. And the question of what kinds of larger societal effects will result from specific changes in rule-of-law institutions is also still open. Although aid institutions engaged in rule-of-law assistance do attempt some—lessons learned—exercises, many of the lessons produced are superficial and even those are often not really learned. Several substantial obstacles to greater knowledge accumulation in this field persist, including the complexity of the task of promoting the rule of law, the particularity of legal systems, the unwillingness of aid organizations to invest sufficient resources in evaluations, and the tendency of both academics and lawyers not to pursue systematic empirical research on rule-of-law aid programs. Whether rule-of-law aid is on the path to becoming a well-grounded field of international assistance remains uncertain.
Topic:
International Relations, Democratization, Development, and Economics
Political Geography:
Latin America

215. A Resurgent MERCOSUR: Confronting Economic Crises and Negotiating Trade Agreements

Author:
Thomas Andrew O'Keefe
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
The North-South Center, University of Miami
Abstract:
Almost from the day it was launched on March 26, 1991, skeptics have predicted the imminent collapse of the Common Market of the South (Mercado Común del Sur — MERCOSUR), while some economists have fretted about the project's supposed protectionist designs to create a trade fortress. The most memorable example of the latter was a 1996 report written by a World Bank economist that relied on out-of-date trade statistics and attributed to MERCOSUR policies that were actually pre-existing national automotive regimes. More recent tirades have tried to blame Argentina's economic meltdown on its MERCOSUR membership. A well-known economist from a New York City investment bank has even gone as far as to proclaim MERCOSUR dead. Given all the invective directed against efforts to integrate South America's Southern Cone economically over the past decade, it is not surprising that MERCOSUR is misunderstood by many in North America.
Topic:
Economics, International Trade and Finance, and Treaties and Agreements
Political Geography:
South America, Latin America, and North America

216. The Changing Landscape of Financial Services in Latin America's Large Emerging Markets

Author:
Jerry Haar
Publication Date:
07-2003
Content Type:
Working Paper
Institution:
The North-South Center, University of Miami
Abstract:
The Latin American financial services sector has been profoundly affected by the sweeping economic, legal, and regulatory reforms of the 1990s. Conversely, the sector has extensively impacted the economic liberalization process that has been the hallmark of Latin American development from the late 1980s through the present. This paper highlights trends in the financial services sector; discusses the key drivers of change, both globally and regionally; illustrates how three of those drivers — mergers and acquisitions (M), technology, and customer demand — are revolutionizing this sector; and reviews the organizational and strategic responses by financial firms to an increasingly competitive environment.
Topic:
Economics, Emerging Markets, and Globalization
Political Geography:
Latin America

217. Contagion: An Empirical Test

Author:
Jon Wongswan
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Using the conditional Capital Asset Pricing Model (CAPM), this paper tests for the existence and pattern of contagion and capital market integration in global equity markets. Contagion is defined as significant excess conditional correlation among different countries' asset returns above what could be explained by economic fundamentals (systematic risks). Capital market integration is defined as the situation in which only systematic risks are priced. The paper uses a panel of sixteen countries, divided into three blocs: Asia, Latin America, and Germany-U.K.-U.S., for the period from 1990 through 1999. The results show evidence of contagion and capital market integration. In addition, contagion is found to be a regional phenomenon.
Topic:
International Relations, Economics, Globalization, and International Trade and Finance
Political Geography:
United States, United Kingdom, Asia, Germany, and Latin America

218. Picking Up the Pieces: Comparing the Social Impact of Finacial Crisis in Mexico and Argentina

Author:
Manuel Pastor and Carol Wise
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
Center for International Studies, University of Southern California
Abstract:
After a committed process of macroeconomic stabilization that began during the mid-1980s in most of Latin America, many observers began to speak of the need for a “second generation” of reforms that could more firmly establish the bases for economic growth and correct for longstanding distributional inequities. By the mid-1990s serious reformers like Argentina and Mexico seemed to be on the cusp of tackling this distributional backlog by launching so-called second phase market reforms meant to correct for earlier shortcomings in the social realm (Naím 1995; Pastor and Wise 1999). However, in both cases, financial crises erupted: Mexico's crash of December 1994, which saw a forty percent devaluation of the peso and a massive outflow of portfolio capital; and, more recently, Argentina's 2002 meltdown, which while simmering since the Brazilian devaluation of 1999, finally caused the country's commitment to a fixed exchange rate to be abandoned.
Topic:
Economics and Government
Political Geography:
Brazil, Argentina, South America, Latin America, North America, and Mexico

219. The Bombardier-Embraer Dispute and its Implications for Western Hemisphere Integration

Author:
Jonathan P. Doh
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
Government subsidies are a pervasive problem for international trade and economic development. Subsidies distort investment decisions, generally squander scarce public resources, skew public expenditures toward unproductive uses, unfairly discriminate against efficient industries and firms, and prompt wasteful overconsumption of some products over others. Despite efforts to limit subsidies through trade and investment policy disciplines, subsidization remains a constant on the global trade policy and international business landscape.
Topic:
Economics, International Trade and Finance, and Treaties and Agreements
Political Geography:
South America, Latin America, Central America, Caribbean, and North America

220. North American Economic Integration Policy Options

Author:
Earl H. Fry
Publication Date:
07-2003
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
At the end of 2003, the North American Free Trade Agreement (NAFTA) will have been in effect for a decade, and although the accord will not be fully implemented for another five years, almost all of its important provisions are already in place. The model for NAFTA was the Canada-U.S. Free Trade Agreement (CUSFTA), which was put in motion in 1989 and was to be fully implemented within 10 years but was superseded by NAFTA after only five years in operation. NAFTA itself has created the world's largest free-trade area, encompassing the United States, Mexico, and Canada; 21.3 million square miles of territory; 422 million people; almost $12 trillion in yearly production; and $615 billion in annual three-way merchandise trade. North American trade, investment, government-to-government, and people-to-people exchanges have increased dramatically over the past decade and decisionmakers in Washington, D.C., Mexico City, and Ottawa will soon have to consider whether continental economic integration should move to the next level in the form of a customs and monetary union or even a common market possessing many of the attributes of the European Union (EU).
Topic:
Economics and International Trade and Finance
Political Geography:
United States, Europe, Canada, Latin America, Central America, North America, Mexico, and Ottawa