In the past two decades, Latin American countries reformed their pension systems focusing mainly on addressing the weaknesses of the contributory schemes - fiscal unsustainability, low coverage levels and a high degree of segmentation- and barely addressed the non-contributory element. The...

This paper analyzes the feasibility, implications and challenges of expanding the current Latin American Reserve Fund (FLAR) to include five other countries: Argentina, Brasil, Chile, México and Paraguay. The paper argues that regional reserve funds should not be conceived as a unique line of...

In the 1950s and 60s, in Latin America structuralism was considered as the preeminent form of analysis of economic development and growth. Nowadays, in contrast, as a mode of analysis structuralism is distinctly unfashionable, and has been superceded by newer endogenous growth theories, which...

This paper presents a model of convergence/divergence in productivity for two economies of different size and development building on Kaldor’s cumulative causation and the technological gap approaches to growth. Both operate within the logic provided by a balance-of-payments constraint...

Since the 1950’s Latin America and the Caribbean have lost relative income share on a consistent basis in relation to the World and the developed countries on average. This paper presents a regional comparative statistical and econometric analysis for 1950-2007 for seven regions in the world,...