Long-term capital reflow under macroeconomic stabilization in Latin America

by Beatriz Armendariz de Aghion

Publisher: Organisation for Economic Co-operation and Development in Paris

Written in English
Published: Pages: 39 Downloads: 826
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Places:

  • Latin America.

Subjects:

  • Capital movements -- Latin America,
  • Debt equity conversion -- Latin America

Edition Notes

Statementby Beatriz Armendariz de Aghion ; head of programme, Helmut Reisen.
SeriesTechnical papers ;, no. 38, Technical papers (Organisation for Economic Co-operation and Development. Development Centre) ;, no. 38.
ContributionsReisen, Helmut., Organisation for Economic Co-operation and Development. Development Centre.
Classifications
LC ClassificationsHG3891 .A76 1991
The Physical Object
Pagination39 p. :
Number of Pages39
ID Numbers
Open LibraryOL1510729M
LC Control Number93193096

“Long-Term Capital Reflow Under Macroeconomic Stabilization in Latin America”, Review d’économie politique, (4), (July – August). “International Debt: An Explanation of the Commercial Banks∗ Lending Behavior After ”, Journal . Easing these bottlenecks requires long-term capital accumulation and profit maximization. almost all Latin American countries have undergone a series of far-reaching economic reforms. This book provides a comparative and analytical framework for assessing the impact of these reforms upon 16 countries economic policy in Latin America has. Economic reforms and stabilization policies in socialist countries. Economic shocks, social stress and the demographic impact Falling inequality in Latin America – evidence from the last decade and prospects for the future. Long-term development in the CFA-zone countries of Sub-Saharan Africa. Macro-economic management (M-EM).   After a decade of high growth thanks to the commodity super cycle, Latin America has lost its glow: economic growth is near zero, equality gains have stalled, and the political landscape is changing. While individual nations in the region are faring differently, all Latin American countries are facing a challenging economic climate.

  Development Macroeconomics in Latin America and Mexico: Essays on Monetary, Exchange Rate, and Fiscal Policies - Kindle edition by Ros, J.. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Development Macroeconomics in Latin America and Mexico: Essays on Monetary, Manufacturer: Palgrave Macmillan. Which of the following is true about income levels in Western Europe and Latin America before ? A. Average income in Western Europe was higher than that in Latin America. B. Average income in Western Europe was lower than that in Latin America. C. Average income in Western Europe was equal to that in Latin America. There were many large economy crises — such as the Latin American debt crisis of the s, the failure of Continental Illinois Bank in , the stock market crash of , the Asian financial crisis in , the collapse of Long-Term Capital Management in , and the dot-com crash in — that did not greatly destabilize the US. The short-term nature of the domestic capital market was considered by Sourrouille and his team to be closely related to the inflationary process and to speculation typical of a closed economy. To solve this problem the government moved to create the investment opportunities required by the private sector in the form of long-term capital markets.

An economic system aimed at building a country's industry by restricting foreign trade. It was especially popular in Latin American countries such as Mexico, Argentina, and Brazil in the mid-twentieth century. It proved successful for a time but could not keep up with technological advances in Europe and North America.   The only country in Latin America that’s been a better investment than simply putting $1, in the iShares MSCI Emerging Markets exchange-traded fund this year has been Brazil. Under these circumstances, and following the lessons of the crises of the late s early s, Latin American countries—like Asian countries—show a strong commitment to develop domestic financial markets in domestic currency with long-term tenure and to increase the self-financing ratio.[45].

Long-term capital reflow under macroeconomic stabilization in Latin America by Beatriz Armendariz de Aghion Download PDF EPUB FB2

Get this from a library. Long-Term Capital Reflow Under Macroeconomic Stabilization in Latin America. [Béatriz de Aghion]. This study begins by taking stock of the main outcomes of the stabilization and reform programs and reviews the explanatory factors.

Subsequent chapters seek to understand these mixed results from a macroeconomic perspective, to identify lessons from this experience, and to assess the region's responses to these lessons and future challenges.

This paper reviews the experience of Latin American countries with structural reforms, and discusses the relationship between macroeconomic stabilization and trade liberalization programs undertaken in the region since the early s. The problem of sequencing of stabilization and structural reforms is analyzed with detail.

Latin America is a very important region of the globe, which has been buffeted by successive waves of economic instability within the last decades.

These waves have caused several episodes of hyperinflation or near hyperinflation, and several currency and financial crises, which, in certain. This study examines external and domestic influences on Latin America's economic performance over the past decade and a half.

It notes that over the past few years, macroeconomic policies have strengthened and structural reforms have been implemented. Together with a favorable external environment, these policies have contributed to Latin America's relatively sharp economic recovery Author: Agnes Belaisch, Charles Collyns, Paula De Masi, Guy Meredith, Anoop Singh, Reva Krieger, Robert Renn.

sudden reversals of capital inflows accentuated in-herent vulnerabilities in many Latin American economies. Economic and financial crises recurred in Brazil and Ecuador (), Argentina (), and Brazil and Uruguay (); and other countries in the region also came under pressure.

Real per capita GDP contracted by more than 1 percent, on. Latin America is a very important region of the globe, which has been buffeted by successive waves of economic instability within the last decades. These waves have caused several episodes of hyperinflation or near hyperinflation, and several currency and financial crises, which, in certain moments, have even spilled over and affected other.

Latin America Macroeconomic Outlook: A Global Perspective 1 ExEcutivE Summary Latin America is cooling off and it is doing so sharply. In contrast with the percent average growth rates.

Macroeconomic Stability and Growth with Equity H. Leon and R. Smith 3 is considered, anticipated, and planned for, even if attention is temporarily focused on one single part of the economic ecosystem.

“Long-Term Capital Reflow Under Macroeconomic Stabilization in Latin America”, Review d’économie politique, (4), (July – August). “On the Pricing of LDC Debt: An Analysis Based on Historical Evidence from Latin America”, OECD Development Centre Technical Paper No.

"Long-Term Capital Reflow Under Macroeconomic Stabilization in Latin America", Review d'économie politique, (4), (July - August). International Debt: An Explanation of the Commercial Banks Lending Behavior AfterJournal of International Economics, Vol.

28 (February). Economic Snapshot for Latin America. Novem Latin America’s economy is poised to recover in After logging its worst recession in recent history this year due to the Covid blow, Latin America’s economy is poised to recover in as. Abstract. Latin America does everything in extremes.

In the past decade, many countries in Latin America have gone from the most dismal financial performance including hyperinflation and default to macroeconomic stabilization and institution building, financial opening and record returns to investors some countries, notably Chile, the agenda has been completed: institutions, consensus.

“ Long-Term Capital Reflow Under Macroeconomic Stabilization in Latin America ”, Review d’économie politique, (4),July – August.

“ International Debt: An Explanation of the Commercial Banks’ Lending Behavior After ”, Journal of International Economics. potential contribution to the financing of long-term investment and economic recovery in Latin america is far from negligible1.

In spite of on-going stabilization programmes taking place throughout the region most countries, however, have not yet benefited from the reflow of long-term capital. The interest rate both short-term and long-term has strong positive signi ficant im pact on capital structure in Germany and France.

The influence of macroeconomic. With their long history of economic and political instability, Latin American countries commonly suffered contagion when the world suffered a crisis.

Crises were often amplified due to the structural problems in the economies of Latin American countries (Kaminsky and Reinhart, ; Kaminsky, ).

Stabilization in Latin America invariably brings capital inflows. These capital flows through the banking system generate a credit and consumption boom along with a real appreciation of the exchange rate. The banking system lends the funds to finance investment and consumption mostly in sectors whose goods are not traded internationally.

Long-term capital reflow under macroeconomic stabilization in Latin America: On the pricing of LDC debt: an analysis based on historical evidence from Latin America: Optimal currency composition of foreign debt: the cases of five developing countries: ouverture financière: pacte du G20 avec l'Afrique l'audace d'espérer.

Overview – The failure to contain the coronavirus and the small size of fiscal support in some countries mean that Latin America will have the weakest recovery of any region globally. Brazil, Mexico and Colombia are likely to be the worst performers, while Chile and Peru should fare better.

Despite the poor economic outlook, Latin Continue reading "Lagging behind". The Transformation of Latin America analyses contemporary economic policy in the region and offers a concise overview of the problems and prospects for future economic development.

The contributors examine the current status of policy reform in key areas - stabilization, trade and capital markets. The book is divided into three : Hardcover. Capital Account Regulation and Macroeconomic Policy: Two Latin American Experiences Guillermo Le Fort V.

and Carlos Budnevich L.* Working Paper No. May Presented at a Symposium on “Global Capital Flows in Economic Development” sponsored. Macroeconomic Stabilization Fund - FEM: A reserve fund established by the country of Venezuela. Also known as the "FEM," it was created at the behest of.

Capital Flight and the Latin American Debt Crisis.” Economic Policy Institute, Credibility and stabilization.” Long-term Capital Reflow Under Macroeconomic Stabilization (). Nation Conference on Trade and Development ().

New Estimates of Capital Flight from Sub-Saharan African Countries: Linkages with External Borrowing and. Downloadable. This paper attempts to go beyond the usual "stylized facts" reported by critics of IMF-sponsored stabilization programs implemented in Latin America over the past ten years.

Its econometric evidence suggests that repeated devaluations of thee domestic currency, indiscriminate cuts in government spending, particularly capital expenditures, and huge net transfers of resources out.

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. Béatriz Armendariz de Aghion, " Long-Term Capital Reflow Under Macroeconomic Stabilization in Latin America," OECD Development Centre Working Pap OECD Publishing.

1 The World Economic Forum's Global Competitiveness Report "There is overwhelming evidence that in the absence of macroeconomic stability, growth will be anaemic or, at best, volatile.".

2 Macroeconomic stability is a core requirement of the IMF's reform packages. (Anne Krueger, 1st Deputy Director of the IMF, in her speech at the IMF).

3 The Treaty on European Union is a. Address macroeconomic stabilization early on; it is an oft-overlooked priority. While no consensus exists on the exact sequencing of economic reforms, there is agreement that more attention must be paid to macroeconomic stabilization early on.

This is critical for establishing a payment system, managing inflation, and laying down a. Armendariz de Aghion, B. (b), ‘Long‐Term Capital Reflow Under Macroeconomic Stabilization in Latin America’, Revue d'Économie Politique, 4. Armendariz de Aghion, B. (c), ‘On the Pricing of LDC Debt: An Analysis Based on Historical Evidence from Latin America’, mimeo, London School of Economics (October).

The aim of this study is to indicate the influence of macroeconomic factors on corporate capital structure in different European countries.

The recent Global Financial Crisis and the following European debt crisis show the significance of the country financial stability, consequently the efficiency of fiscal and monetary policies, and their impact on the private sector.The essays in this collection assess Latin American neo-structuralism's theoretical contributions and viability as the world's economies evolve.

The authors discuss Frenkel's work in relation to pricing decisions, inflation and stabilization policy, development and income distribution in Latin America, and macroeconomic policy for economic growth.(). 38, Long-term Capital Reflow under Macroeconomic Stabilization ().

59, The Political Economy of Stabilization Programmes in Developing Countries, (). 66, Latin America in a Changing Global Environment, by Winston Fritsch.