A usual policy recommendation to promote sustained economic growth it to dedicate increasing resources to the investment process (i.e. high investment rates). In contrast, a well known result of neoclassical growth theory is that the only determinant of long run growth is technological progress,...

Economic policy usually faces a number of risks and uncertainties, as a byproduct of the changing nature of signals, the economic structure, the interaction of aggregate variables, the mutations in the behavior of economic agents and their reaction to policy decisions. It is generally...

Economic policy usually faces a number of risks and uncertainties, as a byproduct of the changing nature of signals, the economic structure, the interaction of aggregate variables, the mutations in the behavior of economic agents and their reaction to policy decisions. It is generally...

The 2008-2012 Country Program Evaluation (CPE) concludes that the Bank's program was programmatically aligned with Government's National Plan for Human Development and addressed five areas essential for growth and poverty reduction. The one significant omission in the Bank's program from a...

Este libro compila las ponencias presentadas en el Seminario “Recursos Naturales y Enfermedad Holandesa en América Latina”. El Seminario tuvo lugar en la Facultad de Ciencias Económicas de la Universidad de Buenos Aires (UBA) el 2 de diciembre de 2011 con apoyo de CAF Banco de Desarrollo...

Although the international crisis was initially seen as an event limited to a particular segment of the financial systems of central economies, it rapidly escalated and became global through different transmission channels, raising doubts over the hypothesis of the so-called decoupling. Latin...

Although the international crisis was initially seen as an event limited to a particular segment of the financial systems of central economies, it rapidly escalated and became global through different transmission channels, raising doubts over the hypothesis of the so-called decoupling. Latin...

The last decade has seen a significant increase in the exports of several Latin American and Caribbean countries to destinations within and beyond the region. The increase in trade links has not, however, been accompanied by a proportional increase in reciprocal investments among the trading...

En el último decenio se verifica un significativo incremento de las exportaciones de varios países de América Latina y el Caribe, hacia destinos dentro y fuera de la región. Dicho incremento de los vínculos comerciales no ha estado acompañado, sin embargo, de un aumento proporcional en las...

In recent years, there has been an extraordinary increase in international commodity prices, such as fossil fuels (oil) and agricultural products. This paper analyzes the behavior of real prices of major agricultural commodities (wheat, corn, soybeans and rice) using SVAR models, with short-term...