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81. Development and Foreign Investments: Lessons Learned from Mexican Banking

Author:
Jacob Steinfeld
Publication Date:
07-2004
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
FOREIGN DIRECT INVESTMENT (FDI) HAS TRANSFORMED MEXICO'S BANKING SYSTEM during the past decade, making it the second largest in Latin America with $165 billion in commercial assets in 2003. In the past four years, Mexico received $25.3 billion of FDI into its financial sector. This composes nearly 40 percent of total FDI inflows into the country. As a result of FDI flowing into the country's financial sector, the Mexican banking system has the highest ratio of foreign ownership in Latin America.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
Latin America and Mexico

82. The Dominican Republic: Resolving the Banking Crisis and Restoring Growth

Author:
Steve H. Hanke
Publication Date:
07-2004
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
After a decade of rapid economic growth, the Dominican Republic entered a downward spiral in 2003. The economy shrank for the first time since 1990, the inflation rate quadrupled, the Dominican peso collapsed, government debt more than doubled, interest rates soared, and the central bank incurred large losses.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
Latin America and Caribbean

83. Political Finance Regulation in Guatemala: A Comparative Survey

Author:
Kevin Casas-Zamora
Publication Date:
01-2004
Content Type:
Working Paper
Institution:
Academy of Political Science
Abstract:
As in most Latin American countries, the funding of political activities has only recently become a matter of serious concern in Guatemala. Long known for its chronic political instability, the country has limited experience in the observance of basic democratic practices such as regular and reasonably free and fair elections. Even today, the regulation of political finance remains under the shadow of other pressing and as yet unresolved political issues such as the extraordinary weakness of parties, the consistently high abstention rates and the practical disenfranchisement of the indigenous majority.
Topic:
International Relations, International Trade and Finance, and Political Economy
Political Geography:
South America, Latin America, and Guatemala

84. The Mexican Internet after the Boom: Challenges and Opportunities

Author:
Martin Kenney, James Curry, and Oscar Contreras
Publication Date:
06-2004
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
The Internet will be the defining technology of the first decade of the 21st Century. It is redefining boundaries of all sorts in new and unforeseen ways. As with many previous disruptive technologies, the Internet can be a double-edged sword for developing countries such as Mexico. For example, the Internet has the potential to dramatically lower barriers to cross-border trade. This will enable international retailers to penetrate the Mexican market potentially undermining domestic retail businesses. On the other side, the Internet could provide opportunities for Mexican firms to enter the global market, particularly Spanish-speaking Latin America and the huge U.S. Hispanic market. But this is only the tip of the iceberg of change. For example, in a country such as Mexico in which information has not been readily available and public libraries are relatively few in number and poorly stocked, the free and low-cost information available on the Internet provides a powerful new distribution medium – it provides inexpensive access to global information sources.
Topic:
Industrial Policy, International Trade and Finance, and Science and Technology
Political Geography:
United States, Latin America, Central America, North America, and Mexico

85. U.S.-Latin American Relations: The Prospect

Author:
Mark Falcoff
Publication Date:
08-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
This series began more than a dozen years ago with an essay titled "U.S.-Latin American Relations: Where Are We Now?" Since this is the last issue of Latin American Outlook, it seems worthwhile to pose the question again.
Topic:
International Relations, International Trade and Finance, and Political Economy
Political Geography:
South America, Latin America, and Central America

86. El Salvador Stays the Course

Author:
Mark Falcoff
Publication Date:
05-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The March presidential election in El Salvador, in which the conservative ARENA (Alianza Republicana Nacionalista) Party won its fourth consecutive victory in fifteen years, invites serious consideration and analysis. At a time when many governments in Latin America are being voted out of office by anti-establishment (and sometimes, anti-party) candidates, and attacks on "neo-liberalism" and globalization are increasingly the order of the day, El Salvador seems to be swimming strongly against the tide. What lies behind this anomaly?
Topic:
International Relations, International Trade and Finance, and Political Economy
Political Geography:
Latin America, Central America, and El Salvador

87. Where Does Haiti Go from Here?

Author:
Mark Falcoff
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The collapse of President Jean-Bertrand Aristide's government in Haiti and his unseemly flight out of the country may have come as a surprise to Americans and others who were not watching closely. It could not have been unexpected by those who were. Haitian history tends to repeat itself, and after a long detour, the circle closed once again. Even the sudden occupation of the country by a multinational force headed by the U.S. Marines is not without precedent. The big question is whether this time the cycle of failure will be broken.
Topic:
International Relations, International Trade and Finance, and Political Economy
Political Geography:
United States and Latin America

88. Facing Up to the Conflict in Colombia

Author:
Mark Falcoff
Publication Date:
03-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Anyone who follows the Latin American news—even out of the corner of one eye—must be aware of the fact that Colombia, one of South America's largest and most strategically and economically important nations, has been bogged down for more than a decade in a seemingly intractable civil conflict. The term "civil war" is a misnomer in this case, to the extent that it suggests that roughly equal forces are confronting one another. The Colombian case is less dramatic than this but far more complex. On one hand there is the Colombian state and most ordinary citizens—some 40 million of them; on the other, two guerrilla groups, the most important of which, the Revolutionary Armed Forces of Colombia (FARC), can count on roughly 17,000 armed militants. The failure of the Colombian state to provide basic security from the guerrillas, particularly in rural areas, led during the last two decades to the more or less spontaneous creation of the so-called Autonomous Defense Forces—paramilitary forces, or "paras," for short—whose ranks today number 13,000. While the FARC and other self-styled guerrilla formations claim to be fighting for a Marxist revolutionary project, their ideology is largely decorative. In fact they are thugs for whom violence is a way of life and has been for many years. They specialize in kidnappings and murders. The FARC alone has kidnapped more than a thousand people—politicians (including former presidential candidate Ingrid Betancourt), soldiers, and police, presumably to win release of about five hundred militants captured by government forces. What makes the FARC an enduring phenomenon is not that it enjoys much popular support, but that, because it engages in drug trafficking on a monumental scale, it is perhaps the most economically self-sufficient insurgency in the history of Latin America.
Topic:
International Relations, International Trade and Finance, and Political Economy
Political Geography:
Colombia, South America, and Latin America

89. Argentina Has Seen the Past—And It Works (For Now)

Author:
Mark Falcoff
Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Probably more than any other Latin American country, the Argentine Republic is susceptible to abrupt changes of spirit and mood. Ten years ago it was apparently hurling itself, pell-mell, into the twenty-first century as South America's great example of economic liberalization and diplomatic alignment with the United States. Today both notions are distinctly out of fashion there, and no wonder—the advantages of both were drastically oversold to the public by the administration of President Carlos Menem (1989-1999). At the end of 2000 the economy virtually collapsed; for a time it appeared as if the country might actually dissolve as a coherent political community. Thanks to the strong hand of Senator Eduardo Duhalde, who took over at the end of 2000 from Fernando de la Rúa, Menem's successor, civic order was restored, though the last three years have been the worst in Argentina's modern history, more dismal even than the Great Depression of the 1930s.
Topic:
International Relations, International Trade and Finance, and Political Economy
Political Geography:
United States, Argentina, South America, and Latin America

90. 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