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22. Outward investment by Trans-Latin enterprises: reasons for optimism
- Author:
- Michael Mortimore and Carlos Razo
- Publication Date:
- 08-2009
- Content Type:
- Working Paper
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Despite the current economic crisis, outward foreign direct investment (OFDI) by Latin American and Caribbean enterprises continued its upward trend in 2008 (annex figure 1). OFDI by firms in the region reached nearly USD 35 billion in 2008, an increase of 42% with respect to 2007 (ECLAC, 2009a). However, several of the factors that fostered such growth have recently changed, possibly affecting OF DI prospects for 2009. This Perspective briefly explores these changes and their potential effects on firms' investing behavior, as well as some important countervailing factors that may cushion the effects of the economic crisis on Latin American firms' investment plan.
- Topic:
- Development, Economics, International Trade and Finance, Markets, and Foreign Direct Investment
- Political Geography:
- Latin America and Mexico
23. Why the Code of Conduct for Resolving Sovereign Debt Crises Falls Short
- Author:
- Barry Herman
- Publication Date:
- 03-2008
- Content Type:
- Working Paper
- Institution:
- The New School Graduate Program in International Affairs
- Abstract:
- The Institute of International Finance, a bankers group, has promoted its “Principles for Stable Capital Flows and Fair Debt Restructuring” as a code of conduct for debtor governments and their private creditors to avoid and if necessary resolve sovereign defaults. Although drafted with Brazil, Korea, Mexico and Turkey, I argue this purely voluntary code is excessively creditor friendly. Instead, a more balanced code should be developed in a broad, open and politically legitimate forum, and be coupled with an international disciplining mechanism that pushes creditors and debtor to a negotiated outcome under the code. A suggested approach concludes the paper.
- Topic:
- Development, Economics, International Trade and Finance, and Foreign Aid
- Political Geography:
- Turkey, Brazil, Korea, and Mexico
24. The Economic Logic of Illegal Immigration
- Author:
- Gordon H. Hanson
- Publication Date:
- 04-2007
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- Illegal immigration is a source of mounting concern for politicians in the United States. In the past ten years, the U.S. population of illegal immigrants has risen from five million to nearly twelve million, prompting angry charges that the country has lost control over its borders. Congress approved measures last year that have significantly tightened enforcement along the U.S.-Mexico border in an effort to stop the flow of unauthorized migrants, and it is expected to make another effort this year at the first comprehensive reform of immigration laws in more than twenty years.
- Topic:
- Conflict Prevention, Development, and Economics
- Political Geography:
- United States, Latin America, and Mexico
25. Program for the Study of Biofuels, Poverty and Food Security
- Author:
- Jikun Huang, Mark Rosengrant, Rosamond Naylor, Walter P. Falcon, David Victor, Kenneth Cassman, and Scott Rozelle
- Publication Date:
- 02-2007
- Content Type:
- Working Paper
- Institution:
- Walter H. Shorenstein Asia-Pacific Research Center
- Abstract:
- The recent global expansion of biofuels production is an intense topic of discussion in both the popular and academic press. Much of the debate surrounding biofuels has focused on narrow issues of energy efficiency and fossil fuel substitution, to the exclusion of broader questions concerning the effects of large-scale biofuels development on commodity markets, land use patterns, and the global poor. There is reason to think these effects will be very large. The majority of poor people living in chronic hunger are net consumers of staple food crops; poor households spend a large share of their budget on starchy staples; and as a result, price hikes for staple agricultural commodities have the largest impact on poor consumers. For example, the rapidly growing use of corn for ethanol in the U.S. has recently sent corn prices soaring, boosting farmer incomes domestically but causing riots in the streets of Mexico City over tortilla prices. Preliminary analysis suggests that such price movements, which directly threaten hundreds of millions of households around the world, could be more than a passing phenomenon. Rapid biofuels development is occurring throughout the developed and developing world, transforming commodity markets and increasingly linking food prices to a volatile energy sector. Yet there remains little understanding of how these changes will affect global poverty and food security, and an apprehension on the part of many governments as to whether and how to participate in the biofuels revolution.
- Topic:
- Agriculture, Development, Economics, Globalization, Government, International Political Economy, International Trade and Finance, and Poverty
- Political Geography:
- United States and Mexico
26. Policy Space for Mexican Maize: Protecting Agro-biodiversity by Promoting Rural Livelihoods
- Author:
- Timothy A. Wise
- Publication Date:
- 03-2007
- Content Type:
- Working Paper
- Institution:
- Global Development and Environment Institute at Tufts University
- Abstract:
- Since the introduction of the North American Free Trade Agreement (NAFTA) in 1994, traditional maize farmers in Mexico have faced difficult economic conditions. In barely more than a decade, as many as one million farmers may have abandoned their land under economic pressure from rising imports, low prices for maize and other traditional crops, weak local and regional demand, and large reductions in public sector support for agriculture. The losses are environmental as well as economic. With the loss of traditional maize, there has been a documented loss of the agricultural biodiversity of which these farmers and their ancestors have been stewards for centuries. With maize trade scheduled to be fully liberalized under NAFTA in 2008, many farm groups are calling for a renegotiation of the treaty's agricultural provisions to prevent further damage. This policy analysis examines the room for alternative policies in Mexico under existing economic and environmental agreements, including NAFTA. It concludes that the Mexican government retains access to many useful policy instruments that could promote rural livelihoods while arresting the losses of important maize diversity. What is lacking is the political will to make use of them.
- Topic:
- Agriculture, Development, Economics, and Treaties and Agreements
- Political Geography:
- North America and Mexico
27. Great Expectations: Mexico's Short-lived Convergence under NAFTA
- Author:
- Carol Wise
- Publication Date:
- 01-2007
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Upon Mexico's entry into the North American Free Trade Agreement (NAFTA), neo-classical trade theory assumed, first, that it had the greatest potential for higher rates of growth, productivity and overall welfare gains due to its relatively underdeveloped status; and second, that Mexico's adjustment to an integrated, liberal economy would be the most painful but also the most beneficial. It was envisioned that the blending of Mexico's endowment factors – cheap labour, natural resources, and proximity to the US market – with the abundant capital and advanced technology of Canada and the US would maximize on NAFTA's competitive potential over the long-term. However, these expectations have yet to fully materialize. This paper reviews the convergence/divergence debate with regard to NAFTA and Mexico, and analyzes the empirical data that have been used to tout both the benefits and the costs of asymmetrical integration. In light of the standstill in Mexico's per capita growth since 2001, this paper concludes with a critique of the potential role of NAFTA as a development tool and argues that the steep regional asymmetries call for a more proactive continental strategy.
- Topic:
- Development, Economics, and Markets
- Political Geography:
- America, Central America, and Mexico
28. Latin American Catholicism in an Age of Religious and Political Pluralism: A Framework for Analysis
- Author:
- Frances Hagopian
- Publication Date:
- 12-2006
- Content Type:
- Working Paper
- Institution:
- Kellogg Institute for International Studies
- Abstract:
- This article identifies and proposes a framework to explain the responses of Latin America's Roman Catholic churches to a new strategic dilemma posed by religious and political pluralism. Because the church's goals of defending institutional interests, evangelizing, promoting public morality, and grounding public policy in Catholic social teaching cut across existing political cleavages, Church leaders must make strategic choices about which to emphasize in their messages to the faithful, investment of pastoral resources, and alliances. I develop a typology of Episcopal responses based on the cases of Argentina, Chile, Brazil, and Mexico, and explain strategic choices by the church's capacity to mobilize civil society, its degree of religious hegemony, and the ideological orientations of Catholics. The analysis draws from 620 Episcopal documents issued since 2000.
- Topic:
- Development, Government, and Religion
- Political Geography:
- Brazil, Argentina, South America, Latin America, Mexico, and Chile
29. Economic Size Trumps All Else? Lessons from BRICSAM
- Author:
- Timothy Shaw, Andrew F. Cooper, and Agata Antkiewicz
- Publication Date:
- 12-2006
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Continuing CIGI's BRICSAM research, this paper questions whether size (economic or population) of emerging economies alone is enough to warrant accommodation in the rules and structures of the international system. The global realignment of states following the resulting power vacuum brought on by the end of the Cold War is finally materializing, as a new triangular formation has taken shape: the 'first world' club of the OECD; the 'second world' of emerging economies; and, a heterogeneous 'third world' of the rest. The interplay between and mobility among these groups of states deserves in-depth analysis. The core of this paper observes the economic and social trends of countries in the second tier, and their upwards aspirations towards the top-tier of the global architecture. Traced through a variety of indices, the growth of the BRICSAM group of countries (Brazil, Russia, India, China, South Africa, ASEAN-4 and Mexico) is demonstrated to be a powerful force in international economics and political economy. For the inclusion of these states, a change in the key aspects of global economic governance, the international architecture and geopolitics seems inevitable, and with it, new challenges arise for decision-makers and scholars alike.
- Topic:
- Cold War, Development, Economics, and Globalization
- Political Geography:
- Russia, China, India, South Africa, Brazil, and Mexico
30. A Millennium Learning Goal: Measuring Real Progress in Education
- Author:
- Lant Pritchett, Amer Hasan, and Deon Filmer
- Publication Date:
- 08-2006
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- The Millennium Development Goal for primary schooling completion has focused attention on a measurable output indicator to monitor increases in schooling in poor countries. We argue the next step, which moves towards the even more important Millennium Learning Goal, is to monitor outcomes of learning achievement. We demonstrate that even in countries meeting the MDG of primary completion, the majority of youth are not reaching even minimal competency levels, let alone the competencies demanded in a globalized environment. Even though Brazil is on track to the meet the MDG, our estimates are that 78 percent of Brazilian youth lack even minimally adequate competencies in mathematics and 96 percent do not reach what we posit as a reasonable global standard of adequacy. Mexico has reached the MDG—but 50 percent of youth are not minimally competent in math and 91 percent do not reach a global standard. While nearly all countries' education systems are expanding quantitatively nearly all are failing in their fundamental purpose. Policymakers, educators and citizens need to focus on the real target of schooling: adequately equipping their nation's youth for full participation as adults in economic, political and social roles. A goal of school completion alone is an increasingly inadequate guide for action. With a Millennium Learning Goal, progress of the education system will be judged on the outcomes of the system: the assessed mastery of the desired competencies of an entire age cohort—both those in school and out of school. By focusing on the learning achievement of all children in a cohort an MLG eliminates the false dichotomy between “access/enrollment” and “quality of those in school”: reaching an MLG depends on both.
- Topic:
- International Relations, Development, Economics, and Education
- Political Geography:
- Brazil and Mexico