This paper reviews the determinants of Latin America's uneven growth based on an accounting decomposition that breaks down countries' growth (relative to the world) into three trade-related channels: (i) an export pull measuring the traction exerted by the country's exports, (ii) an external...

During the 1980s and 1990s, financial sectors were theAchilles' heel of economic development in Latin Americaand the Caribbean (LAC). Since then, these sectors havegrown and deepened, becoming more integrated and competitive,with new actors, markets, and instruments springing up and...

The world economy is not what it used to be twenty years ago. For most of the 20th century, the world economy was characterized by developed (North) countries acting as 'center' to a 'periphery' of developing (South) countries. However, the recent rise of developing economies suggests the need...