Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects...

The economic successes of China and India are viewed with admiration but also with concern because of the effects that the growth of these Asian economies may have on the Latin American and Caribbean (LAC) region. The evidence in 'China's and India's Challenge to Latin America' indicates that...

This book discusses the issues associated with the capriciousness of capital flows into Latin America, examining macroeconomic and financial sector impact, as well as offering policy recommendations for achieving stability despite volatile capital flows. The authors review recent experience with...

This Working Paper analyzes the institutions that shape public-private collaboration for the design and implementation of productive development policies in Colombia. These policies are increasingly designed in the context of formal institutions and venues, with public-private collaboration...

This paper shows, first, that non-commodity revenues are more volatile in oil- and mineral-rich countries and that quality of institutions is associated with lower volatility. We investigate the channels through which oil and mineral revenue volatility lead to non-commodity revenues volatility,...

This paper surveys and analyzes industrial policies in Colombia, finding extensive use of productive development policies (PDPs) and despite claims of only moderate government intervention. Rarely explicitly associated with the need to address market failures, PDPs are instead associated with...

This paper explores the characteristics of the political economy process that conditioned the scope and success of the combination of fiscal reforms before and after Colombias 1991 constitutional reforms. Using formal analysis of reforms and interviews with actors, reforms in taxation,...

This paper shows, first, that non-commodity revenues are more volatile in oil- and mineral-rich countries and that quality of institutions is associated with lower volatility. We investigate the channels through which oil and mineral revenue volatility lead to non-commodity revenues volatility,...