In this paper we review the key facts in the history of the International Monetary System in the 20th century to analyze the stability of what some authors have called “Bretton Woods II”, which describes the current fixed-exchange rate and export-led growth model of some Asian countries,...

The debate on the reform of the pension system in Spain is not very lively, in contrast with the international experience. The Spanish economic boom since the mis nineties, the slowdown in the number of pensioners due to the retirement of the cohorts born during the Civil War, and the...

This paper analyzes the link between regulation, institutions, and telecommunications investment in Latin America. The investment levels of the region lag behind those of advanced economies and are impeding substantial progress on digital transformation. Using a database built for this analysis,...

A large share of the population in emerging market economies has no pension coverage, exposing them to the economic risks arising from socio-economic and individual shocks. This problem, which arises from having large informal (unregulated) sectors, affects not only poor workers, but as many as...

Purpose – This paper aims to understand the relationship in developing countries between fiscal consolidation and public investment – a flexible part of the budget that is easier to cut during consolidation effort, but with potentially negative growth effects. Analyzing in detail the case of...

This study analyzes different individual's factors that impact savings conditions, based on two innovative surveys performed by the Inter-American Development Bank (IDB) for the cities of Lima and Mexico D.F. The aim of this research is fourfold: first, to understand how different individual's...

Purpose Tax incentives can be a useful tool to stimulate investment in developing countries. However, interest groups often are able to exert considerable influence in its management, if not its design. The purpose of this paper is to use a power-based approach to the political economy of tax...