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1061. Growth, Poverty and Inequality in Latin America

Author:
William Smith and Roberto Korzeniewicz
Publication Date:
05-1999
Content Type:
Working Paper
Institution:
Institute for Latin American and Iberian Studies at Columbia University
Abstract:
The crystallization of the so-called “Washington Consensus” in the late 1980s sparked intense debates regarding the likely social impact of macroeconomic stabilization and structural adjustment. Academic critics and political opponents argued that Washingtonian reforms, and neoclassical economics more broadly, lacked a coherent theory of growth, and were bound to result in long-term negative trends in popular welfare and social inequality. Advocates of neoliberal restructuring, in contrast, while recognizing that market-oriented reforms could lead initially to a decline in output and standards of living, were confident that these reforms eventually would lead to sustainable growth and, as a consequence, greater equality and enhanced social welfare. A decade later we revisit this debate to evaluate recent trends in economic growth, poverty and inequality, and to assess accompanying shifts in the theoretical, policy, and political terrains.
Topic:
Development and Economics
Political Geography:
Washington, South America, Latin America, Central America, and Caribbean

1062. Latin American Trade Strategy at Century's End

Author:
Carol Wise
Publication Date:
06-1999
Content Type:
Working Paper
Institution:
The North-South Center, University of Miami
Abstract:
This paper tackles the question of trade strategy and differential economic performance in Latin America, with a focus on the four countries -- Argentina, Brazil, Chile, and Mexico -- most important for the successful completion of a full Western Hemispheric integration scheme. The analysis distinguishes between a “standard” market strategy that assigns the task of economic adjustment to market forces and a “competitive” strategy that more actively employs a range of public policies to facilitate adjustment and correct for instances of market failure. The choices of strategy are explored against the backdrop of international pressures, government-business relations, and institutional reform within the state. Two main conclusions are drawn: first, the competitive strategy strongly correlates with more favorable macro-and microeconomic outcomes and, second, mediocre economic performance under a standard market strategy has undermined the spirit of collective action that will be necessary to forge ahead at the hemispheric level.
Topic:
Economics and International Trade and Finance
Political Geography:
Brazil, Argentina, Latin America, Mexico, and Chile

1063. Panama Canal Transition: The Final Implementation

Author:
C. Richard Nelson, Jr. Gillespie, Brandon Grove Jr., and David E. McGiffert
Publication Date:
07-1999
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
The implications of the transfer of the Panama Canal go well beyond U.S. relations with Panama. This complex transition provides an important lesson for Latin America and the rest of the world on how countries of vastly different size and outlook can work together. The success of this 20 year process lies mainly in first identifying the primary common interest of the United States, Panama and the major canal users: access to an open, safe and efficient canal. Important but secondary concerns, including U.S. military access to facilities in Panama, were addressed during the process but never were allowed to displace the primary interest. By focusing on this clear, compelling key objective, both Panama and the United States were able to accommodate fundamental changes in the political, economic and security context, including several changes in administrations, tough negotiations and even a military confrontation.
Topic:
International Relations, Foreign Policy, and International Trade and Finance
Political Geography:
United States and Latin America

1064. Transparency Project

Author:
Jennifer McCoy and Shelley McConnell
Publication Date:
05-1999
Content Type:
Working Paper
Institution:
The Carter Center
Abstract:
The Carter Center's Americas Program and its Council of Presidents and Prime Ministers of the Americas have initiated a multiyear project to work with governments and civil society to develop monitoring mechanisms to help combat corruption in government transactions and serve as a model for the rest of the world. Greater "transparency" in government-business interactions can improve investor confidence, spur economic growth, provide better public services to the population, and increase public confidence in democratic institutions. At a high-level conference May 4-5, 1999, leaders from across the hemisphere came to The Carter Center to evaluate specific anti-corruption efforts and seek commitments from other governments to implement similar strategies in their own countries. In preparation for that conference, The Carter Center partnered with three countries—Ecuador, Jamaica, and Costa Rica—to develop and assess specific anti-corruption tools.
Topic:
Democratization, Development, Human Rights, and Migration
Political Geography:
South America, Latin America, Central America, and Caribbean

1065. Social Funds in Stabilization and Adjustment Programmes

Author:
Giovanni Cornia
Publication Date:
04-1999
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Well before the introduction of adjustment-related Social Funds (SFs), many developing countries had developed a variety of safety nets comprising food subsidies, nutrition interventions, employment-based schemes and targeted transfers. Middle-income and a few low-income countries had also achieved extensive coverage in the field of social insurance. In countries committed to fighting poverty, these programmes absorbed considerable resources (2-5 per cent of GDP, excluding social insurance) and had a large impact on job creation, income support and nutrition: for instance, in 1983, Chile's public works programme absorbed 13 per cent of the labour force. Their ability to expand quickly depended on a permanent structure of experienced staff, good portfolios of projects, clear management rules, adequate allocation of domestic resources, supply-driven execution and, with the exception of food subsidies, fairly good targeting.
Topic:
Foreign Policy, Development, and Government
Political Geography:
Africa, United States, South Asia, South America, Latin America, Central America, Caribbean, and Chile

1066. Development Discontinuities: Leaders and Intermediaries in Producers' Associations

Author:
Tito Bianchi
Publication Date:
10-1999
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The development literature considers associations an important economic development tool that allows producers to pursue their economic welfare collectively and through participatory means. This paper comparatively analyses the experience of three associations of agricultural producers in the underdeveloped regions of Brazil and Italy that were successful in this economic development task. Their experience, however, challenges a commonly held view about the participatory nature of associations.
Topic:
Development and Economics
Political Geography:
Europe, Brazil, South America, and Latin America

1067. Currency Boards or Dollarization — Solutions or Traps

Author:
John Chown
Publication Date:
08-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
Currency boards have been suggested for Russia, and adopted elsewhere in eastern Europe. Brazil's fixed rate has had to be abandoned, but Argentina is considering replacing its currency board with dollarization, and suggesting this solution for the rest of Latin America. Fixed exchange-rate regimes (and the crawling peg in Russia) have collapsed in Southeast Asia but Hong Kong, which had a formal currency board, has (so far) survived.
Topic:
Economics and International Trade and Finance
Political Geography:
Russia, Eastern Europe, Latin America, Central America, Caribbean, and North America

1068. In Praise and Criticism of Mexico's Pension Reform

Author:
L. Jacobo Rodriguez
Publication Date:
04-1999
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
The privatization of Mexico's government-run pay-as-you-go social security system, which went into effect in July 1997, is the Ernesto Zedillo administration's most important structural reform. It is a measure that, if successful, will help bring much-needed social and economic stability. The Mexican peso crisis of 1994–95 underscore d the fragility of Mexico's economy, its need for independent institutions, and its need for a large pool of long-term domestic savings. An increase in the rate of private savings in Mexico, which this reform will promote, would make the Mexican economy less dependent on short-term fluctuations of international capital flows and, thus, more stable. More important still, the privatization of social security will erect one of the basic pillars of a free society by turning Mexico into a country of property-owning workers.
Topic:
Economics, Government, International Political Economy, and Privatization
Political Geography:
Latin America and Mexico

1069. U.S. Commercial Diplomacy

Author:
Raymond J. Albright, S. Robbin Johnson, David J. Rothkopf, Christopher B. Johnstone, and Gary C. Hufbauer
Publication Date:
05-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
In the larger scheme of U.S. trade, government financing agencies do not loom as large as fiscal and monetary policies, dollar exchange rates, the World Trade Organization (WTO), and the North American Free Trade Agreement (NAFTA). Yet, the acronym financial agencies—the Export–Import Bank (Ex–Im), Overseas Private Investment Corporation (OPIC), and Trade Development Agency (TDA) —are prominent in the current debates of what is needed to keep American exports competitive, especially in the most dynamic areas of U.S. trade growth—Asia and Latin America.
Topic:
Foreign Policy, Diplomacy, and International Political Economy
Political Geography:
United States, Latin America, and North America

1070. Transcript: World Economic Update I

Author:
Daniel K. Tarullo, John Lipsky, Bruce Steinberg, and David Jones
Publication Date:
11-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Mr. Daniel K. Tarullo: Good morning, ladies and gentlemen. We'd like to get started promptly so that we can end promptly. Welcome to this morning's session on the update of world economic conditions. This is the first in what we anticipate to be a series of updates, perhaps quarterly, sponsored by the Council on Foreign Relations, probably right here in this room, part of a continuing effort to focus on world economic conditions, both for themselves, and as they intersect with foreign policy concerns.
Topic:
Economics
Political Geography:
Russia, Europe, Asia, South America, Latin America, and North America