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This paper focuses on the scope for stabilizing Latin American economies to repatriate capital for the financing of long-term investments and economic recovery in the region. In particular, a simple two-period investment model is developed to show that a government seeking capital repatriation...
Persistent link: https://www.econbiz.de/10004962455
This paper displays and discusses historical data on sovereign debt prices for two Latin American countries and provides a signalling framework to account for the following phenomena: (a) prices for old (defaulted) and newly-issued debts were the same, but such prices diverge and rise sharply...
Persistent link: https://www.econbiz.de/10004962500
Over the last five years, most Latin American governments have made considerable strides in managing the composition of their public debt, while reducing their foreign-currency exposure. Issuing public debt in local currency is not new for Latin America; what is new, however, is the widespread...
Persistent link: https://www.econbiz.de/10005045344
The idea of local “ownership” of development policies is now popular among the donor community, but without a reduction of conditionality on aid disbursements, enhanced ownership will be difficult to achieve. While there are still strong reasons for attaching certain kinds of conditionality...
Persistent link: https://www.econbiz.de/10005045345
Political and social troubles worsened in 2007, but the long term trend is positive. Progress towards democracy continues, despite some severe setbacks. Democratic institutions need to foster dialogue and social cohesion.
Persistent link: https://www.econbiz.de/10005045347
The “raw materials curse” is far from being an inevitability, as shown by Norway and Chile. Both examples offer valuable lessons to developing countries on how to sensibly manage mining and oil resources. Following Norway’s example, Chile could build upon its experience and become a key...
Persistent link: https://www.econbiz.de/10005045349
Financial actors from developing countries are playing with other OECD financial giants as equals through their Sovereign Wealth Funds (SWFs). SWFs could become major actors of development finance if they chose to allocate 10 per cent of their portfolio to emerging and developing economies over...
Persistent link: https://www.econbiz.de/10005045350
The recent expansion of African horticultural exports has proven that business is changing on the continent. The experience of Senegal and Mali suggests that the two countries are facing major challenges in strengthening policy co-ordination, improving business environment and realising market...
Persistent link: https://www.econbiz.de/10005045351
The use of governance “indicators” is booming. These indicators are supposed to quantify the quality of a country’s governance institutions by considering, for example, the extent of corruption in the economy, the quality of public and private regulatory systems, the prevalence of “rule...
Persistent link: https://www.econbiz.de/10005045352
“Ownership” makes aid work better when recipients can choose between policy options. Governments need to encourage home-grown development strategies and free local policy debates. Policy conditions on aid don’t work.
Persistent link: https://www.econbiz.de/10005045355