This book discusses the issues associated with the capriciousness of capital flows into Latin America, examining macroeconomic and financial sector impact, as well as offering policy recommendations for achieving stability despite volatile capital flows. The authors review recent experience with...

This book discusses the issues associated with the capriciousness of capital flows into Latin America, examining macroeconomic and financial sector impact, as well as offering policy recommendations for achieving stability despite volatile capital flows. The authors review recent experience with...

Latin America is volatile, about two or three times as volatile as the industrial economies , and more volatile than any region other than Africa and the Middle East. Latin America's access to international financial markets is sporadic, and often disappears just when it would be most valuable....

Latin America is volatile. On this there is not much controversy. But what are the reasons for this volatility? And what are its costs? On these more fundamental questions, there is as yet no consensus. And partly because of this, there is no consensus on the appropriate policy response to...

Economies grow by upgrading the type of products they produce and export. The technology, capital, institutions and skills needed to make such new products are more easily adapted from some products than others. We study the network of relatedness between products, or product space, finding that...

Several reports on reforming the international financial architecture have been, are being, and will be produced by multilateral organizations, think tanks, freethinkers and Gn task forces, with n taking values between 7 and 33. The Question is whether any of the initiatives will solve the...

This paper discusses different nviews about what is wrong with the world, or as an economist would say, the principal distortions that are present. The intent is to clarify the logic behing the proposals for reforming the international financial architecture and provide a means of assessing them.

This paper discusses the ways in which macroeconomic development can put stress on banks, and in extreme cases lead to banking crises