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 Nowadays, in contrast, as a mode of analysis structuralism is distinctly unfashionable, and has been superceded by newer endogenous growth theories, which...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,...

This paper discusses the series of far-reaching structural reforms that took place in the economies of Latin America and the Caribbean during the 1990's. This set of reforms generated increases in foreign trade (particularly exports) and higher foreign direct investment. However, the growth path...

Durante los años noventa las economías de América Latina y el Caribe fueron escenario de un conjunto de reformas estructurales y de nuevas orientaciones de política económica. En ese periodo, las economías de la región no pudieron generar las condiciones para crecer sostenidamente en el...

Durante los años noventa las economías de América Latina y el Caribe fueron escenario de un conjunto de reformas estructurales y de nuevas orientaciones de política económica. En ese periodo, las economías de la región no pudieron generar las condiciones para crecer sostenidamente en el...

This paper discusses the series of far-reaching structural reforms that took place in the economies of Latin America and the Caribbean during the 1990's. This set of reforms generated increases in foreign trade (particularly exports) and higher foreign direct investment. However, the growth path...

The Macroeconomics for Development blueprint for Latin America and the Caribbean is articulated around two issues: an active strategy of productive development and a countercyclical policy stance. Macroeconomic countercyclicality refers to the management of the level of aggregate demand to...