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201. : From Rapid Recovery to Slowdown: Why Recent Economic Growth in Latin America Has Been Slow

Author:
Jose De Gregorio
Publication Date:
04-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Latin America's recent economic performance has been disappointing. After a very strong recovery from the Great Recession, growth has slowed considerably, and prospects for 2015 are dim. Among the seven largest economies in the region, output is expected to contract in Argentina, Brazil, and Venezuela, and Chile, Colombia, Mexico, and Peru are projected to grow by only about 3 percent. The decline was not caused by external factors but was mostly cyclical in nature and a result of low productivity. Although monetary and fiscal policies may still have a role in supporting demand in some instances, the main problem in the region is not a lack of demand but low productivity growth. Efforts must be made to foster productivity. Institutional weakness must be addressed and inequality reduced if sustainable high growth is to resume.
Topic:
Economics, International Trade and Finance, Monetary Policy, and Financial Crisis
Political Geography:
Latin America

202. Do Public Development Banks Hurt Growth? Evidence from Brazil

Author:
Monica de Bolle
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Public lending by the Brazilian Development Bank (BNDES) may have done more harm than good in Brazil, adversely affecting real interest rates and productivity growth. Specifically, BNDES's large amounts of subsidized lending are responsible for substantial credit market segmentation, choking off monetary policy transmission. As a result, to maintain price stability the Central Bank of Brazil is forced to raise interest rates more than it might do otherwise in the absence of BNDES lending. Restoring Brazil's capacity to grow in the medium term requires a thorough rethinking of the role of BNDES. In particular, the bank's lending rates should be aligned with market prices, term and risk premia, while taking into account that, with an adequate transparency framework, public development banks can increase private sector participation instead of crowding it out.
Topic:
Development, Economics, International Trade and Finance, and Markets
Political Geography:
Brazil and Latin America

203. China's Evolving Role in Latin America: Can it Be a Win-Win?

Author:
Enrique Dussel Peters
Publication Date:
09-2015
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
Weeks before Chinese President Xi Jinping meets with President Barack Obama in Washington, the Atlantic Council's Latin America Center launched a new report that unravels the complexities of the Latin America-China relationship. Titled China's Evolving Role in Latin America: Can it Be a Win-Win?, the report provides five recommendations to help both China and Latin America usher in a mutually beneficial post-commodity-boom relationship. The key to long-term success will be to insure that the relationship promotes—rather than delays—economic growth and social progress in the hemisphere. In the report, renowned Mexico-based China Expert Enrique Dussel Peters, an Atlantic Coucil author and Professor at the Graduate School of Economics at the National Autonomous University of Mexico (UNAM), calls for a ratcheting up of strategic planning and multilateral support so the relation¬ship is a win-win for all parties, including the United States. A deep dive of the state of play is provided for five countries: Argentina, Brazil, Cuba, Mexico, and Venezuela. These countries illustrate the spectrum of ties with China, ranging from those with long and complex historical relation¬ships to those almost entirely structured around recent opportunities for economic cooperation.
Topic:
Diplomacy, Economics, and Bilateral Relations
Political Geography:
China and Latin America

204. His Excellency Juan Manuel Santos, President of the Republic of Colombia

Author:
Juan Manuel Santos
Publication Date:
09-2015
Content Type:
Video
Abstract:
This World Leaders Forum program features an address by His Excellency Juan Manuel Santos, President of the Republic of Colombia, titled, Colombia on the Road to Peace: The Rise of a New Hope, followed by a panel discussion with Columbia University faculty and a question and answer session with the audience.
Topic:
Political Violence, Development, Peace Studies, and Narcotics Trafficking
Political Geography:
Latin America

205. From objects of history to agents of change: Retrospective overview of indigenous movements in the Andean Region

Author:
Thea Gelbspan
Publication Date:
10-2015
Content Type:
Book
Institution:
Oxfam Publishing
Abstract:
There are times where most organizations dedicated to advancing human rights and sustainable development must face the question: What does positive change look like? How does it happen? And, what do we need to understand in order to support these processes effectively? The case of the indigenous movements of the Andean region provides a compelling response to these questions. This book presents a retrospective overview of the social and political movements of indigenous peoples in Ecuador, Peru, and Bolivia between 1980 and 2010. It describes key developments that set the context for the strategies employed by indigenous organizations in the Andean highlands and the western Amazon in order to have a say in decisions that affect their lands and their lives. It also details the ways in which Oxfam America accompanied these movements in the struggle to claim their rights and identifies some key achievements and lessons learned in the course of their long partnership.
Topic:
Development, International Organization, Political Economy, and History
Political Geography:
Latin America

206. Eco-Competitiveness and Eco-Efficiency: Carbon Neutrality in Latin America

Author:
René Castro
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
In 2014, world per capita greenhouse gas emissions, expressed in carbon dioxide equivalent terms (CO2e), exceeded 7 tons. Per capita emissions for Latin America and the Caribbean were even higher, at 9 tons CO2e. To achieve international goals for the stabilization of atmospheric concentrations of greenhouse gases, the Intergovernmental Panel on Climate Change (IPCC) is calling for annual emissions to fall to 2 tons per capita by the year 2050 and 1 ton per capita by the year 2100. It is clear that we face a moral problem: everyone needs to, and can contribute to, the fight against climate change (Pope Francis, 2015). Improvements in eco-efficiency—defined as a combination of reducing waste and reducing the use of raw inputs—offer one strategy for reducing greenhouse gas emissions while also lowering production costs. In addition, changes in culture—at the level of individual businesses, countries, or both—can enhance the eco-competitive position of these businesses and countries. This paper describes three examples from Costa Rica and shows how the goal of achieving carbon neutrality can provide incentives for improving eco-efficiency and eco-competitiveness.
Topic:
Climate Change, Industrial Policy, International Cooperation, Treaties and Agreements, and Governance
Political Geography:
Latin America

207. Capital Controls and Implications for Surveillance and Coordination: Brazil and Latin America

Author:
Marcio Garcia
Publication Date:
04-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
From 2009 until 2011, Brazil utilized capital controls to deter real exchange rate appreciation. These measures may have obstructed necessary changes in the fiscal policy stance from occurring. In Chile, which employed capital controls heavily in the 1990s and then decided not to use them again during the commodity super-boom in the 2000s, suggests that an adequate fiscal policy stance provides better results than the use of capital controls. In addition, the recent experiences of Colombia and Peru demonstrate capital controls are not always necessary. This paper makes recommendations for capital control surveillance and coordination, using the Brazilian experience as an example, and draws on experiences in other Latin American countries. When analyzing the implications for surveillance and coordination, international institutions, such as the International Monetary Fund, should take into consideration that, no matter how many caveats are listed before its guidelines, capital controls mainly serve to bypass needed changes in macroeconomic policy, thereby jeopardizing economic performance.
Topic:
Economics, Foreign Exchange, and International Monetary Fund
Political Geography:
Brazil and Latin America

208. Strategic Insights: Guyana-Venezuela: The Essequibo Region Dispute

Author:
Dr. Jose de Arimateia da Cruz
Publication Date:
12-2015
Content Type:
Working Paper
Institution:
The Strategic Studies Institute of the U.S. Army War College
Abstract:
While the rest of the world is concerned about the refugee crisis in Europe, the conflict in Syria, and the potential contenders in the U.S. presidential elections of 2016, there is a brewing dispute between Guyana and Venezuela in Latin America. As a result of this diverted attention, there are few reports regarding the instability of an already fragile region. The dispute between the two nations centers on the lands west of the Essequibo River of Guyana. This stretch of land covers 40 percent of Guyana’s sovereign territory and, according to experts, is rich in gold, bauxite, diamonds, and other natural resources. The dispute over control of the Essequibo region was initially settled by international arbitration in 1899, awarding the Guyana Government the region. However, the Venezuelan Government has rejected the final decision granting Guyana the Essequibo region; and, since the 19th century, it has been laying claim to this vast mineral rich area, alleging that the decision was fraudulent and therefore null (see map of Guyana)
Topic:
Conflict Resolution, Natural Resources, Territorial Disputes, and Military Affairs
Political Geography:
Europe, Latin America, Venezuela, and Guyana

209. The New Russian Engagement with Latin America: Strategic Position, Commerce, and Dreams of the Past

Author:
Dr. R. Evan Ellis
Publication Date:
06-2015
Content Type:
Working Paper
Institution:
The Strategic Studies Institute of the U.S. Army War College
Abstract:
In many ways, Russia’s expanded engagement in Latin America as a response to escalating tension over the Ukraine was a repetition of its answer to U.S. involvement in the 2008 conflict in the former Soviet Republic of Georgia. In the latter conflict, the U.S. deployed naval forces to the Black Sea in response to Russian support for the breakaway republics of Abkhazia and South Ossetia. Russia countered with a series of actions in Latin America, including sending nuclear-capable Tu-160 bombers to Venezuela, from where they conducted symbolically-charged flights around the Caribbean. A month later, a four-ship Russian naval flotilla deployed to the area to conduct military exercises with the Venezuelan navy before making port calls in Cuba and Nicaragua. In November 2008, Russian President Dmitri Medvedev traveled to Latin America to participate in the leadership summit of the Bolivarian Alliance for the Americas, then subsequently hosted both Venezuelan President Hugo Chavez and Nicaraguan President Daniel Ortega in Moscow. Three months later, Bolivian President Evo Morales also traveled to Russia, followed in November 2009 by Ecuadorian President Rafael Correa. Very little beyond journalistic accounts have been written to examine contemporary Russian activities in Latin America and the Caribbean. As Russia’s reassertion of its global position and associated tensions with the United States proceed, a broad understanding of Russia in the Americas becomes ever more important, both as a question of U.S. national security and as an important dynamic shaping the global geopolitical environment. This monograph focuses on the character of the ongoing Russian re-engagement with Latin America and the Caribbean and its implications for the U.S.
Topic:
National Security, Military Strategy, Military Affairs, and Navy
Political Geography:
Russia and Latin America

210. Russian Engagement in Latin America and the Caribbean: Return to the "Strategic Game" in a Complex-Interdependent Post-Cold War World?

Author:
Dr. R. Evan Ellis
Publication Date:
04-2015
Content Type:
Working Paper
Institution:
The Strategic Studies Institute of the U.S. Army War College
Abstract:
In February 2015, Russian Defense Minister Sergei Shoigu traveled to Latin America to meet with leaders and defense officials in Cuba, Nicaragua, and Venezuela. Although the visit included Russian participation in a Venezuelan military exercise, the focus of the meetings in all three countries was on access to ports and airfields in the region in order to support Russian military operations in the vicinity of the United States.1 The discussions bore the most fruit in Nicaragua, where Minister Shoigu signed an agreement to facilitate Russian access to the ports of Corinto and Bluefields, as well as strengthening counter-drug cooperation and discussing weapons sales.2
Topic:
International Relations, Defense Policy, Military Strategy, and Military Affairs
Political Geography:
Russia, Latin America, Venezuela, and United States of America