"La era de la productividad" describe de qué manera la baja productividad de América Latina y el Caribe impide que la región se ponga a la par de los países del mundo desarrollado. Los autores indagan más allá de las explicaciones macroeconómicas tradicionales y profundizan hasta llegar...

This paper estimates the impact of financial development on industry-level total factor productivity (TFP) growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1963 to 2003. A significant relationship is found between financial...

Este documento analiza la importancia de la integración financiera en Centro América, enfatizando los efectos de la actual crisis internacional sobre los sistemas financieros de la subregión. Después de presentar evidencia sobre la integración financiera en Centro América y la compara con...

People and their jobs: What could be more basic to a person's well being? Where people work determines how they live, how their families live, and how economies perform. The quantity and quality of jobs available has implications for individuals and countries alike. That is why the problems with...

Credit supplied by the banking sector is the most important funding source for firms and households in Latin America and the Caribbean. Unfortunately, credit is scarce, costly and volatile. Without deep and stable credit markets, the region will be hard pressed to achieve high and sustainable...

This paper explores the impact of international financial integration on credit markets in Latin America, using a cross-country dataset covering 17 countries between 1996 and 2008. It is found that financial integration amplifies the impact of international financial shocks on aggregate credit...

This paper uses a panel dataset on industrial employment and trade for 9 Latin American countries for which liability dollarization data at the industrial level is available. It tests whether real exchange rate fluctuations have a significant impact on employment, and analyze whether the impact...

Financial dollarization in Latin America has been growing over time in spite of a major reduction in inflation and a shift toward central bank independence. After discussing the key stylized facts of dollarization and dedollarization in the region, we discuss the risks this process poses to the...

In this paper, It has been addressed this question using firm-level panel data from 12 developing countries. It was also developed a summary index of the efficiency of investment allocation that measures whether, and to what extent, investment funds are going to firms with a higher marginal...

This paper reviews empirical evidence on the impact of creditor rights regulations on credit market breadth and the credit cycle. It confirms results that were questioned regarding the impact of creditor rights regulations on the size of credit markets, and shows that the degree to which...