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61. Do Structural Reforms always Succeed? Lessons from Brazil

Author:
Jorge Saba Arbache
Publication Date:
09-2004
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
In the last twenty years, Brazil has undergone several attempts of improving sustainable growth through stabilization programmes, and more recently, structural reforms in line with the Washington Consensus Agenda. The results, however, have been disappointing, as the per capita output growth has remained below its historic trend, and poverty and inequality remain at high levels. This paper investigates why marketoriented reforms such as trade and capital account liberalization, privatization, deregulation and stabilization failed to boost growth in Brazil. We conclude that structural reforms may contribute to growth if accompanied by microeconomic policies tailor-made to address the country's needs, and by appropriate macroeconomic, institutional and political environments.
Topic:
Development, Human Welfare, and Political Economy
Political Geography:
Washington, Brazil, and Latin America

62. 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

63. 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

64. 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

65. 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

66. 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

67. Whither Europe?

Author:
Barry Eichengreen
Publication Date:
05-2003
Content Type:
Working Paper
Institution:
Institute of European Studies (IES), UC Berkeley
Abstract:
Where I live, on the West Coast of the United States, and teach, at the University of California, Europe seems far away. Geographically we are closer to Latin America and Asia. Ethnically, Californians of Hispanic and Asian-American descent are increasingly numerous. Within 20 years, residents of European origin will be a minority; already they are a minority of the undergraduates enrolling at Berkeley. Economically as well, we look to Asia. It is in California where the largest number of container ships arriving from Asia are unloaded, and it is across the Pacific, and in China in particular, that most of those containers originate.
Topic:
Economics and Political Economy
Political Geography:
United States, China, Europe, Asia, California, and Latin America

68. Earnings Insurance for Germany

Author:
Gary Burtless and Holger Schaefer
Publication Date:
07-2002
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
For more than a decade, Germany has suffered high rates of unemployment and very slow employment growth. Workers who have lost their jobs face unusually long spells of unemployment, in part because the adverse incentives of the German unemployment compensation system provide strong impetus for unemployed workers to remain jobless.
Topic:
Government and Political Economy
Political Geography:
Europe and Latin America

69. Fixing Argentina

Author:
Kurt Schuler
Publication Date:
07-2002
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Argentina's currency crisis and economic depression have been caused by the bad policies of its government—not by banks, speculators, the International Monetary Fund (despite the bad advice it has given), or other scapegoats. The De la Rúa and Duhalde governments have made several gigantic blunders, namely, increasing tax rates, freezing bank deposits, devaluing the peso, and forcibly converting dollar bank deposits and contracts into pesos (“pesofication”).
Topic:
Economics, Globalization, and Political Economy
Political Geography:
Argentina, South America, and Latin America

70. Lessons of the Euro for the Rest of the World

Author:
Barry Eichengreen
Publication Date:
12-2002
Content Type:
Working Paper
Institution:
Institute of European Studies (IES), UC Berkeley
Abstract:
Europe's single currency is widely invoked as a potential solution to the monetary and exchange rate problems of other regions, including Asia, Latin America, North America and even Africa. This lecture asks whether the Europe's experience in creating the euro is exportable. It argues that the single currency is the result of a larger integrationist project that has political as well as economic dimensions. The appetite for political integration being less in other parts of the world, the euro will not be easily emulated. Other regions will have to find different means of addressing the tension between domestic monetary autonomy and regional integration. Harmonized inflation targeting may be the best available solution.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
Africa, Europe, Asia, and Latin America