Search

Begin New Search Political Geography Latin America

911. 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 The most memorable example of the latter was a 1996 report written by a World Bank economist that relied on out-of-date trade statistics and attributed to MERCOSUR policies that were actually pre-existing national automotive regimes.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

912. 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

913. 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

914. Democratic Politics in Latin America: New Debates and Research Frontiers

Author:
Gerardo Munck
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
Center for International Studies, University of Southern California
Abstract:
This assessment of research on contemporary democratic politics in Latin America is organized around the distinction between institutional and alternative approaches. Initially it considers institutionalism on its own terms and, through an assessment of the debate about the institutional causes of gridlock, draws attention to key strengths of this literature. Thereafter, some of the limitations of an institutional approach are addressed and the possibility of combining insights developed from institutional and alternative theoretical perspectives is emphasized. The suggested terms of integration, however, are not symmetric. With regard to causal theorizing, the need for institutionalists to borrow ideas, especially from the broader literature on political regimes, is underlined. With regard to theorizing outcomes, in contrast, the need for students of the quality of democracy to incorporate contributions made by institutionalists is highlighted. Throughout, various pointed suggestions to advance research are offered.
Topic:
Democratization and Government
Political Geography:
South America, Latin America, and North America

915. 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

916. 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

917. Radical Groups in Mexico Today

Author:
Gustavo Hirales Morán
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
Since January 1, 1994, the day when the armed uprising of the Zapatista Army for National Liberation (EZLN) was announced, it has been evident that Mexico is facing a second generation of radical organizations. The first generation, dating back to the 1970s, consisted of armed groups made up mainly of students, rural classroom teachers, and campesinos (i.e., subsistence farmers and agricultural workers along with their families). This generation's choice to pursue armed struggle revealed a trio of influences: Cuba's experience, socialist ideology, and the outrage and indignation produced by the repression and crackdown on nonviolent avenues of political opposition unleashed under the governments of Gustavo Díaz Ordaz (1964–1970) and Luis Echeverría Álvarez (1970–1976).
Topic:
Security
Political Geography:
United States, Latin America, North America, and Mexico

918. 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

919. The Spring 2002 Term of the Mexican Congress

Author:
Jeffrey A. Weldon
Publication Date:
05-2003
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
The spring session of the second year of the 58th Legislature in Mexico, in comparison with most recent years, was more productive than average. Although there were a few major negative incidents, the strained relationship between the executive and legislative branches did not lead to complete paralysis on executive legislation.
Topic:
Government
Political Geography:
United States, Latin America, Central America, and Mexico

920. U.S.-Mexico Binational Council Report: U.S-Mexico Transboundary Water Management: The Case of the Rio Grande/Rio Bravo

Author:
Armand Peschard-Sverdrup and Meghan Bishop
Publication Date:
01-2003
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
Although the highly publicized water dispute between the United States and Mexico has focused attention in both nations on the issue, the need to address comprehensively the problem of water scarcity and water quality is not one that is limited to the U.S.-Mexico border region. In fact, water scarcity is increasing around the world and approaching crisis conditions in many regions. It is a phenomenon that is impacting the lives of a growing number of the world's people. According to the United Nations, 31 countries in the world are currently facing water stress and scarcity. Over 1 billion people have no access to clean drinking water, and almost 3 billion people have no access to sanitation services. It is estimated that today 166 million people in 18 countries suffer from water scarcity, while another 270 million in 11 additional countries are considered "water stressed." By the year 2025, the world's population will have increased by more than 2.6 billion, but as many as two-thirds of those people will be living in conditions of serious water shortage, and one-third will be living with absolute water scarcity. By 2025, the affected populations will increase to about 3 billion people, or about 40 percent of the world's population, most of them in the poorest countries. As a result of this daunting diagnosis, there is now a consensus that the severity of the problem requires a strategic approach that emphasizes equitable and sustainable management of water resources.
Topic:
Environment
Political Geography:
United States, Latin America, and North America