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871. Latin America's tourism boom — Evangelicalism in Brazil.

Author:
Olivia Ruggles-Brise
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
Latin America's travel and tourism industry took a hit during the 2008–2009 recession. International arrivals slowed and tourists had less money to spend. But over the longer term, tourism has been a success story—and forecasts suggest continued growth. That should surprise no one. Latin America's sheer diversity in scenic beauty, cuisine and cultures has combined with an increasingly sophisticated domestic industry to cater to every kind of traveler. Since 2006, tourism's direct contribution to GDP in Latin America has grown by 7 percent in real terms—more than double the world average—to reach an estimated $134 billion in 2011. This figure, which is projected to rise to $224 billion in 2022, includes revenue generated by tourism-oriented services such as hotels and airlines, as well as restaurant and leisure industries that cater to tourists. Forecasts for this year suggest tourism's direct contributions will grow by 6.5 percent, behind only Northeast and South Asia (6.7 percent).
Topic:
Economics
Political Geography:
United States, Brazil, and Latin America

872. Brazil's Strategic Leap Forward

Author:
Thomas Shannon Jr.
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
During their meeting in Brazil in March last year, U.S. President Barack Obama and Brazilian President Dilma Rousseff discussed a plan to send 101,000 Brazilian students overseas to study science, engineering, mathematics, and technology-based disciplines. Announced soon after, the initiative, Science Without Borders, has signaled President Rousseff's interest in marking her tenure by building a gateway for her country to the twenty-first century. Just before their tête-à-tête, Obama had announced his own plans to send 100,000 American students to Asia and promised to unveil a similar initiative for Latin America in Santiago, Chile—the next stop on his 2011 Latin America tour. During their Brasília meeting, both leaders talked about the importance of using education to improve national science and engineering capacity to drive economic development, promote social mobility and enhance innovation.
Political Geography:
United States, Asia, and Brazil

873. Learning the Ropes

Author:
R. Evan Ellis
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
In the past decade, China's expanding engagement with Latin America has captivated the attention of the region and the United States. Most of the focus, however, has been on whether the new trade and investment is good for the region's long-term development, and whether particular Chinese activities, such as military sales and loans to Venezuela and Ecuador, threaten U.S. interests in the region. Lost are the details and dynamics of how Chinese companies and the Chinese government have adapted to doing business in the region. China's new physical presence in Latin America is the product of a fast-growing commercial and investment presence. But as a consequence of that deepening relationship, Chinese companies and China's diplomatic apparatus have become increasingly immersed in the business, social and political conditions in those countries—and in some cases are even shaping those conditions to suit their interests.
Topic:
Development
Political Geography:
United States and China

874. Ask the Experts

Author:
Alicia Barcena, Franciso Rivera-Batiz, Georges Haddad, and Rebeca Grynspan
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
Educational achievement has always marked and defined the middle class. Public policies that have led to mass access to education have led to a broad-based improvement in educational accomplishments, among them higher completion rates in secondary and tertiary education. This has led to more upward mobility in terms of earnings and types of occupation. Still, there has been an education depreciation effect. The higher the average years of schooling, the more demanding the labor market becomes in rewarding those educational achievements. Many non-manual jobs that require more schooling often see their rate of return to education deteriorate. As those non-manual jobs pay less for schooled employees, their workers fall below the income threshold characteristic of the middle class.
Topic:
Education
Political Geography:
United States and Latin America

875. James Bacchus and Bernard K. Gordon debate: Do regional trade agreements weaken the global push for free trade?

Author:
James Bacchus and Bernard K. Gordon
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
Do regional trade agreements weaken the global push for free trade? Yes: James Bacchus; No: Bernard K. Gordon In this issue: They waste energy and political capital. Reducing trade barriers makes sense at any level.
Political Geography:
United States

876. Reforming the International Monetary System in the 1970s and 2000s: Would an SDR Substitution Account Have Worked?

Author:
Robert N. McCauley and Catherine R. Schenk
Publication Date:
02-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
This paper analyzes the discussion of a substitution account in the 1970s and how the account might have performed had it been agreed in 1980. The substitution account would have allowed central banks to diversify away from the dollar into the IMF's Special Drawing Right (SDR), comprised of US dollar, Deutschmark, French franc (later euro), Japanese yen and British pound, through transactions conducted off the market. The account's dollar assets could fall short of the value of its SDR liabilities, and hedging would have defeated the purpose of preventing dollar sales. In the event, negotiators were unable to agree on how to distribute the open-ended cost of covering any shortfall if the dollar's depreciation were to exceed the value of any cumulative interest rate premium on the dollar. As it turned out, the substitution account would have encountered solvency problems had the US dollar return been based on US treasury bill yields, even if a substantial fraction of the IMF's gold had been devoted to meet the shortfall at recent high prices for gold. However, had the US dollar return been based on US treasury bond yields, the substitution account would have been solvent even without any gold backing.
Political Geography:
United States and Asia

877. ASEAN Centrality and the ASEAN-US Economic Relationship

Author:
Peter A. Petri and Michael G. Plummer
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
ASEAN has become a focal point of the rapidly changing economic architecture of the Asia-Pacific region. ASEAN members are increasingly stable and politically confident, and constitute an emerging economic powerhouse. The region is dynamic, with 600 million citizens and a gross domestic product (GDP) that exceeds $2 trillion and is expected to grow 6 percent annually for the next two decades. (The Appendix at the end of this paper reports detailed output and trade projections to 2025.) Through deeper internal integration via the ASEAN Economic Community (AEC) and external initiatives such as the Regional Comprehensive Economic Partnership (RCEP), ASEAN is becoming a driving force in regional cooperation and a much-courted economic partner. The AEC and the RCEP projects are globally significant: the AEC could generate powerful demonstration effects for other developing regions, and the RCEP could become an important building bloc of the multilateral trading system.
Topic:
Security, Economics, International Trade and Finance, and Markets
Political Geography:
United States, East Asia, Asia, and Asia-Pacific

878. Global Trends of Multi-Factor Productivity

Author:
Jeong Yeon Lee
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
Multi-factor productivity (MFP) compares the growth of gross domestic product with the growth of combined capital and labor inputs. The growth rate of MFP assumes theoretical significance because it represents the slope of the steady-state growth path, and hence is a major determinant of the long-term growth trend. This paper offers the balanced panel of the estimated growth rates of MFP for 24 OECD countries over 1986-2011. Based on the estimates of MFP growth, a number of notable trends in productivity growth are identified for the entire OECD area as well as three major economies – the United States, the Eurozone and Japan – within the OECD.
Topic:
Economics, Industrial Policy, International Trade and Finance, and Labor Issues
Political Geography:
United States, Japan, and Europe

879. Scaling Clean Energy: Lessons Learned and New Approaches

Author:
Roger Ballentine and Andy Karsner
Publication Date:
03-2014
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
We are still in the early stages of a transformation of the U.S. electricity sector into a cleaner, more flexible, more resilient, and more dynamic system. The early history of investment in and adoption of clean energy technologies and practices has been mixed. The venture capital model has proven to be inadequate for scaling up clean energy, and anticipated policy developments have been slow to be realized. The sector-reshaping impact of unconventional gas, uneven capitalization of clean energy companies, and the mixed signals of government policymakers have slowed the march to a more distributed energy economy rooted in the greater use of renewables, the more efficient use of energy, and the optimization of information technologies in the energy sector.
Topic:
Climate Change, Economics, Energy Policy, Industrial Policy, Markets, and Science and Technology
Political Geography:
United States

880. Supporting The Internet as a Platform for International Trade

Author:
Joshua Meltzer
Publication Date:
02-2014
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
This paper is about the potential of the Internet as a platform for international trade. A traditional understanding of the impact of the Internet on commerce is derived from the dot.com experience of the 1990s, where Internet companies such as Pets.com and Amazon sold goods online. Since then, the impact of the Internet on commerce has grown and changed. Certainly, the ability to sell goods online remains important. However, the key development is that the Internet is no longer only a digital storefront. Instead, the Internet as described in this working paper is a platform for businesses to sell to customers domestically and overseas, and is a business input that increases productivity and the ability of businesses to compete. Understanding the Internet as a platform for trade highlights its broad economic potential. It emphasizes how the commercial opportunities are no longer limited to Internet companies, but are now available for businesses in all sectors of the economy, from manufacturing to services. Moreover, the global nature of the Internet means that these opportunities are no longer limited to domestic markets, but are embraced wherever Internet access is available.
Topic:
Economics, International Trade and Finance, Markets, Science and Technology, and Communications
Political Geography:
Africa, United States, and Europe