bluuebunny/crossref_metadata_2025 huggingface dataset:
Inward-Looking Policies, Institutions, Autocrats, and Economic Growth in Latin America: An Empirical Exploration
Authors: Chong Alberto E. , Zanforlin Luisa
Published: March 2024

This paper explores the institutional determinants of economic growth in Latin America by taking advantage of recent empirical research that employs subjective and objective measures to test for a possible "Northian" explanation that links institutional quality and economic growth. I provide a framework that helps better understand the policymakers' choices and persistence regarding inward-looking policies that were pursued between the 1930s and the 1980s by arguing that in the Latin American case Olson's (1982) idea of encompassing interest should be expanded to cover not only the economic stakes of power holders, but also, their political stakes, somewhat along the lines of work by Robinson (1997).
Rights of Indigenous Groups over Natural Resources in Tropical Forests
Authors: Tresierra Julio C.
Published: March 2024

This study analyzes present-day and historical demographic, socioeconomic, and cultural changes in traditional native groups and in their environment, which have led to a growing loss of ethnic and ecological diversity in the main tropical rainforests of Latin America. The study summarizes actions by external agents that have led to rapid deforestation in recent years and to restrictions on access to forest resources which often lead to confrontation with the affected indigenous communities. In addition, the idea that non-sustainable uses of tropical forests should be determined on a case-to-case basis before initiating development activities is presented.
Fiscal Decentralization and Government Size in Latin America
Authors: Stein Ernesto H. , Streb Jorge M.
Published: March 2024

Although the region remains highly centralized, the tendency toward decentralization is quite strong. Not only is a larger portion of the general government budget executed from the subnational government level, the autonomy that these governments have in deciding how much to spend and what to spend on is increasing as well. In this context, it is important to analyze the possible effects of the move toward decentralization on fiscal performance.
De-industrialization and Trade
Authors: Spilimbergo Antonio
Published: March 2024

Baumol (1967) showed that the rate of growth of an economy slows down if a sector has lower productivity than others and the demand between goods is inelastic. This paper points out that trade is equivalent to technological progress in the tradable sector. Therefore an open economy has higher income but lower growth than a closed economy. Moreover, the reallocation of activity from one country to another country can have a negative effect on welfare when there is country-specific learning by doing.
Savings in Chile: What Went Right?
Authors: Morandé Felipe
Published: March 2024

Some analysts rank Chile as the only Latin American economy that qualifies as a 'take-off economy,' or development economy. In a sense, Chile's enduring success and proved insulation from the 'Tequila effect' are due to its high national savings. What has made Chile's savings so high? What were some key policies implemented? Did the structural and liberalizing reforms of the late 1970s and 1980s have anything to do with it? This paper tries to empirically disentangle some of the puzzles with historical data that span the 1960-1995 period.
Make or Buy?: Approaches to Financial Market Integration
Authors: Hausmann Ricardo , Gavin Michael
Published: March 2024

The sharp differences between financial markets as they exist in Latin America and how we might expect them to look under full integration suggest that the financial constraints on Latin American economic development have much to do with the region's financial markets' incomplete integration in the world financial system. This paper suggests that the underlying cause of Latin America's limited integration with world financial markets is not explicit barriers to international financial transactions. Rather, weaknesses in the domestic financial markets that would be called upon to intermediate international capital flows impedes integration. An appropriate financial integration approach can strengthen and deepen the domestic financial system by permitting indirect imports of the requisite public goods (provided by the banks' home countries) and by allowing a greater diversification of national risks.
How Should Financial Institutions and Markets be Structured?: Analysis and Options for Financial System Design
Authors: Kaufman George G. , Kroszner Randall S.
Published: March 2024

This paper analyzes the consequences of alternative financial structures for financial efficiency and stability. The focus is on the organizational structure of banks. Alternative bank structures range from 'narrow banks' to broad 'universal banks.' Each banking structure is assessed in its ability to satisfy the objectives of efficiency and stability in the financial system stability, economies of scale and scope, competition, avoiding regulatory capture, conflicts of interest and political manipulation, corporate control and management of financial distress, and monetary control. No one reform is appropriate for all countries, and no single reform guarantees that the objectives will be attained or maintained.
Illegal Immigration, Border Enforcement, and Relative Wages: Evidence from Apprehensions at the U.S.-Mexico Border
Authors: Hanson Gordon H. , Spilimbergo Antonio
Published: March 2024

This paper examines the determinants of illegal immigration in the United States from Mexico from 1976 to 1995. The main challenge in the empirical work is that the observations are not the number of individuals that attempt to enter the United States illegally, but rather the number of individuals apprehended attempting to cross the U.S.-Mexico border illegally. Based on a simple model of the individual migration decision, we postulate the existence of an apprehensions function, which expresses the number of apprehensions at the U.S.-Mexico border as a function of the number of illegal attempts to cross the border an the level of border-enforcement effort exerted by the U.S. government.
Financial Intermediation and Policy-Based Lending: Policy Recommendations for Latin America and the Caribbean
Authors: Staking Kim B. , Vives Antonio
Published: March 2024

This paper discusses the conditions under which policy-based lending may further economic development within a Latin American and Caribbean context, given the current state of financial markets in most countries of the region. The discussion is intended as a conclusion to the articles presented at the Conference on Policy Based Finance and Alternatives for Financial Market Development, many of which are included in this book. In some degree, this chapter is an attempt at a compromise; a position that does not recommend a formal adoption of policy based finance as it exists in East Asia, but rather proposes the incorporation of the universal lessons from the East Asian experience into the more market-based reforms currently under way in Latin America and the Caribbean. While the discussion in most of this book is centered on credit programs, the conclusions are equally valid for other varieties of government interventions in financial markets. This article was originally published in the book Policy-Based and Market Alternatives: East Asian Lessons for Latin America and the Caribbean in June 1997, by the Inter-American Development Bank.
Towards a "New" Inflation Targeting Framework: The Case of Uruguay
Authors: Sola Martín , González Rozada Martín
Published: March 2024

Using a dynamic stochastic general equilibrium model with financial frictions, this paper evaluates the effects of a rule that incorporates not only the interest rate but also the legal reserve requirements as instruments of monetary policy. It is found that reserve requirements can be used to achieve the Central Bank's inflation objectives. The use of this instrument, however, produces a real appreciation of the Uruguayan peso. When the Central Bank uses the monetary policy rate as an instrument, the effect of an increase in reserve requirements is to contribute to reducing the negative impact on consumption, investment and output. Nevertheless, the quantitative results in terms of inflation reduction are rather poor. The policy rate becomes more effective in reducing inflation when the reserve requirement instrument is solely directed at achieving financial stability. The paper's main policy conclusion is that a well-targeted non-conventional policy instrument can help to effectively control inflation.
Taxation and Economic Growth in Colombia
Authors: Steiner Roberto
Published: March 2024

This Working Paper assesses the impact on investment of a reduction in corporate taxes and the impact on employment, labor formality, and growth of a reduction in non-wage labor costs in Colombia. First, and following Hall and Jorgensen (1967), we estimate an investment function, which depends on the user cost of capital, one of whose determinants is the corporate tax rate. Our estimations suggest that a reduction of the corporate tax rate from 33 to 23 percent--as originally envisioned by the government in early 2012, but finally not included in the reform submitted to Congress--has very different short and long-term effects on investment in machinery and equipment. While the user cost of capital declines 0.9 percent, investment (excluding the oil and mining sector) increases on impact only 28 bps in relation to GDP, an increase that does not compensate the fiscal cost incurred. In the long term, however, it is likely that the significant boost in investment (of around 5 percent of GDP) makes such a policy intervention fiscally sustainable. Second, using a computable general equilibrium model calibrated for Colombia, we estimate that the reduction of the "pure tax" component of non-wage labor costs approved in late 2012 is associated with a 0.5 percent increase in overall employment and, more importantly, with a 1.4 percent increase in formal sector employment. Our estimations indicate that this is achieved at no fiscal cost since government revenue increases as a result of higher output and employment.
Is the Eurozone on the Mend? Latin American Examples to Analyze the Euro Question
Authors: Cavallo Eduardo A. , Powell Andrew , Fernández-Arias Eduardo
Published: March 2024

Several European countries face challenges reminiscent of those faced by the emerging economies of Latin America. The economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and then the busts including Sudden Stops in capital flows; the strong interaction between sovereign debt and domestic banking systems; the role of foreign banks and contagion; and all in the context of a fixed exchange rate, are familiar plotlines for Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin America's experience is particularly relevant and worrisome. Still, Europe may be in a better position to navigate a path out of the crisis given cooperative mechanisms that were absent in Latin America, particularly the availability of massive liquidity support. Nonetheless, while such support buys time, it does not guarantee success. This paper argues that reflecting on Latin America's experience provides useful lessons for Europe to improve the chances for a successful resolution.
When It Comes to Container Port Efficiency, Are All Developing Regions Equal?
Authors: Serebrisky Tomás , Suárez-Alemán Ancor , Morales Sarriera Javier , Trujillo Lourdes
Published: March 2024

This paper develops a port productivity and efficiency analysis of all developing regions between 2000 and 2010, using both parametric and nonparametric approaches. From a unique dataset -our sample covers 70 developing countries, 203 ports, and 1,750 data points-, we carry out an analysis of the evolution and drivers of productivity and efficiency changes across developing regions. We show that productivity growth rates between 2000 and 2010 vary significantly and that this heterogeneity is explained by pure efficiency changes rather than scale efficiency of technological changes. Therefore, we carry out a detailed efficiency analysis to determine the drivers of port efficiency. Time series results show an upward trend for port efficiency in developing regions, as it increased from 47 percent in 2000 to 57 percent in 2010. Our analysis indicates that private sector participation, the reduction of corruption in the public sector and improvements in liner connectivity and the existence of multimodal links increase the level of port efficiency in developing regions.
Tourism Policy, a Big Push to Employment: Evidence from a Multiple Synthetic Control Approach
Authors: Maffioli Alessandro , Salazar Lina , Figal Garone Lucas , Castillo Victoria
Published: March 2024

This paper investigates the impact of tourism policy on employment, using the Tourism Development Policy (TDP) implemented in the Argentinean province of Salta during the years of 2003 to 2010 as a case study. Following the Synthetic Control Method for comparative case studies, we use a combination of non-treated Argentinean provinces to construct a synthetic control province which resembles relevant characteristics of Salta before the TDP implementation. Given the dual focus of the evaluated policy -one specific sector in one province- we also construct a synthetic control for the tourism sector using a combination of other sectors for Salta, and other sectors from other provinces. This novel approach based on multiple dimensions of the donor pool allows us to test the robustness of the estimated impact. We find that TDP implementation increased tourism employment in Salta by an average of 11 percent per year, for an overall impact of around 112 percent between 2003 and 2013. The analysis also suggests that larger impacts of the TDP occurred from the second to the seventh years after policy implementation. Results are robust across a series of placebo tests and sensitivity checks.
The Political Economy of Pension Reform: Public Opinion in Latin America and the Caribbean
Authors: Machado Fabiana , Vesga Giselle
Published: March 2024

Countries around the world are facing important challenges to the sustainability of their pension systems. Changing policies, especially those of large scope and financial magnitude, is a political challenge. It takes a combination of willingness, capacity and enough political support to change the status quo and avoid costly subsequent reversals. Taking advantage of several waves of public opinion data in Latin America and the Caribbean, this paper aims to identify and analyze individual-level factors that are relevant to gauging political support for pension reform.
Party System Institutionalization and Reliance on Personal Income Tax in Developing Countries
Authors: von Schiller Armin
Published: March 2024

This paper explores the effect of party system institutionalization on the relevance of the personal income tax in the tax composition. Based on a fiscal contractualism approach, it is argued that institutionalized political party systems increase the capacity of political actors to credibly commit to fiscal contracts agreed with wealthy taxpayers. Consequently, in countries characterized by institutionalized political party systems wealthy taxpayers accept paying a bigger share of the tax burden, as reflected in a greater relevance of progressive tax types. The analysis of panel data for more than 90 countries from 1990 to 2010 supports this hypothesis, showing that party system institutionalization has an especially significant and strong positive effect on the relevance of the personal income tax where bureaucratic capacity is low. At high levels of bureaucratic capacity the effect disappears. The findings strongly support the claim that, particularly in developing countries, where bureaucratic capacity tends to be limited, taxation is best understood as a problem of credible commitment.
Transitioning the Tax System to Take Advantage of the Natural Gas-Rich Economy in Trinidad and Tobago
Authors: Mercer-Blackman Valerie
Published: March 2024

In this paper, the author examines the current structure of the tax system for hydrocarbon production in Trinidad and Tobago in light of global trends in hydrocarbon taxation. Some of the main features of the tax regime are compared and benchmarked against what the literature has defined as best practices. The author calculates marginal effective tax rates, given assumptions of oil and gas prices and changes in tax incentives, and finds that tax levels are relatively adequate from an international perspective. Some of the more recent tax incentives, although helpful in terms of cash flow relief for companies, do not make as big of a difference to tax revenues and investment plans as do, for example, changes in international conditions when considered over the long run. Moreover, given the preeminence of natural gas in the economy, the tax system could be better modified to consider the special structural features of the gas market, while still encouraging investment in other energy sectors.
Female Corporate Leadership in Latin America and the Caribbean Region: Representation and Firm-Level Outcomes
Authors: Flabbi Luca , Abrahams Scott , Piras Claudia
Published: March 2024

This paper collects an original database of publicly listed companies to determine prevailing gender ratios among board members and executives in Latin America and the Caribbean region (LAC). Women are as under-represented in LAC as in the United States, but much less so in the Caribbean. It is then estimated whether companies with women board members are more likely to appoint women executives. This is the case in LAC, but the results are driven strongly by Caribbean companies. The paper finally estimates whether measures of female leadership at the firm are correlated with company performance, finding this to be the case only for board membership and only when the proportion of women on the board is greater than 30 percent. Again composition effects are important, with average results driven by Caribbean and Southern Cone companies. Overall, it is concluded that the LAC regions empirical regularities in under-representation of women in firm leadership positions are very similar to those found for high-income countries in Europe and North America.
The Unintended Consequences on Crime of "Pennies from Heaven"
Authors: Montolio Daniel
Published: March 2024

This paper examines how an infrastructure investment policy, implemented nationwide at the local level, has affected local crime rates. This policy, developed in the wake of the global recession of 2008-09, was designed to boost local economies through job creation. Using monthly figures from the Spanish region of Catalonia's more than 900 municipalities, the paper exploits geographic and time variation in the Spanish Ministry of Public Administration's random approvals of local investment policies, to estimate their impact on both (un)employment and crime. The combination of difference-in-differences and IV estimates makes it possible to precisely assess both the size and timing of the policy's impact on the local labor market and on municipal-level crime rates. While the policy apparently did not tackle the economic recession over the long run, local public finances did experience a boost over the short term, resulting in a temporary reduction in local unemployment rates (as legally required by the policy), as well as a significant drop in crime rates.
Experimental Evidence on Credit Constraints
Authors: Bando Rosangela , Uribe Claudia
Published: March 2024

Credit constraints are central to development economics theory. However, there is scant direct evidence that supports the existence of such constraints. Traditional tests observe how consumption changes after an unexpected income shock. Such changes can also result from myopic behavior or precautionary savings. This study uses a randomized control trial to explore the effects of enabling savings as a tool to smooth consumption, keeping income constant. The study focuses on community instructors in Mexico. Instructors have to deal with idiosyncratic shocks and shocks related to settling in to new communities. For a group of instructors participating in this study, administrators switched 34 percent of monthly payments to quarterly payments. The switch reduced abandonment of service from 23 to 18 percent. This behavior is consistent with the standard model with credit constraints. It is not consistent with a model without credit constraints or one with myopic individuals.
Evidence from a Natural Experiment on the Development Impact of Windfall Gains: The Camisea Fund in Peru
Authors: Henderson Heath , Corral Leonardo , Miranda Juan José
Published: March 2024

This document studies the economic effect of windfall gains by examining a Peruvian natural experiment. The Camisea Fund for Socioeconomic Development (FOCAM) is an inter-governmental fiscal transfer scheme that allocates natural gas royalties generated by the Camisea Gas Project to eligible subnational governments. We exploit the rules governing FOCAM allocation to identify the effect of the transfers on municipal accounts, local infrastructure, and economic development. Using a newly constructed district- level dataset for the years 2005 and 2012, we find evidence of positive impacts on municipal capital expenditures and local infrastructure. However, we also find evidence of a negative impact on municipal current expenditures. More specifically, we find that municipalities with low absorptive capacity coped with the increased administrative burden of FOCAM transfers by reallocating administrative effort toward (away from) executing capital (current) expenditures.
The Challenge of Public Capabilities for Successful Productive Development Policies: Hopeless Task or Pragmatic Program?
Authors: Cornick Jorge , Stein Ernesto H. , Fernández-Arias Eduardo
Published: March 2024

This paper discusses the organizational structure and technical, operational and political capabilities required for successful productive development policies (PDPs). It also discusses how countries can match their PDPs to existing capabilities, as well as expand their capabilities in the long run. The specific difficulties associated with PDPs are also discussed.
Posts as Trade Facilitators
Authors: Schaur Georg , Volpe Martincus Christian , Carballo Jerónimo
Published: March 2024

In this paper, we examine an innovative postal export regime that involvesboth a streamlining of export procedures and provision of intermediation services to investigate how firms' react to changing trade costs and whether and how these firms learn. In so doing, we use a unique dataset that consists of the entire universe of Peru's export transactions over the period 1999-2014 including both regular shipments and postal shipments. We find that the new export mode has been associated with increased and more diversified regional exports, higher entry and exit rates, more export experimentation, and learning both within and across firms.
The Border Labyrinth: Information Technologies and Trade in the Presence of Multiple Agencies
Authors: Graziano Alejandro , Schaur Georg , Volpe Martincus Christian , Carballo Jerónimo
Published: March 2024

Firms selling products abroad usually have to interact with several borderagencies that develop multiple trade regulations and oversee their compliance. These regulations establish the procedures that these firms have to follow and the documents that they have to obtain, fill in, and submit for their exports to be authorized. In this paper, we estimate the effects of introducing information technologies as a new means to complete such traderelated procedures. In particular, we use highly disaggregated firm-level export data from Costa Rica over the period 2007-2013 and exploit the gradual phase-in of an electronic trade single window scheme across groups of products and ports. Results suggest that this new system has been associated with both an expansion in the number of exporting firms and increased firms' exports along the shipment extensive margin and the buyer extensive and intensive margins.
The Impact of Business Support Services for Small and Medium Enterprises on Firm Performance in Low -and Middle- Income Countries: A Meta-Analysis
Authors: Piza Caio , Cravo Tulio
Published: March 2024

Interventions designed to support small and medium enterprises (SMEs) are popular among policy makers, given the role SMEs play in job creation around the world. Business support interventions in low- and middle-income countries (LMICs) are often based on the assumption that market failures and institutional constraints impede the growth of SME growth. Significant resources from governments and international organizations are directed to SMEs to maximize their socioeconomic impact. Business-support interventions in LMICs most often relate to formalization and business environments, exports, value chains and clusters, training and technical assistance, and access to credit and innovation. Very little is known about the impact of such interventions despite the abundance of resources directed to SME business-support services. This paper systematically reviews and summarizes 40 rigorous evaluations of SME-support services in LMICs and presents evidence to help inform policy debates. The study found indicative evidence that overall business-support interventions help improve firm performances and create jobs. However, little is still known about which interventions work best for SMEs and why. More rigorous impact evaluations are needed to fill the large knowledge gap in the field.
Vote Buying or Campaign Promises?: Electoral Strategies When Party Credibility is Limited
Authors: Hanusch Marek , Keefer Philip , Vlaicu Razvan
Published: March 2024

What explains significant variation across countries in the use of vote buying instead of campaign promises to secure voter support? This paper explicitly models the tradeoff parties face between engaging in vote buying and making campaign promises, and explores the distributional consequences of this decision, in a setting where party credibility can vary. When parties are less credible they spend more on vote buying and target vote buying more heavily toward groups that do not believe campaign promises. When political credibility is sufficiently low, some voter groups are targeted only with vote buying and not with promises of post-electoral transfers. Stronger electoral competition reduces rent seeking but increases vote buying. Incumbents may have an advantage in undertaking vote buying; the paper finds that in a dynamic setting the prospect of a future incumbency advantage increases current vote buying.
The Integrated Economic-Environmental Modelling Framework: An Illustration with Guatemala's Forest and Fuelwood Sectors
Authors: Banerjee Onil , Cicowiez Martin , Vargas Renato , Horridge Mark
Published: March 2024

This paper develops and operationalizes the Integrated Economic-Environmental Modelling (IEEM) platform which integrates environmental data organized under the first international standard for environmental-economic accounting with a powerful economy-wide modelling approach. IEEM enables the ex-ante economic analysis of public policies and investment on the economy and the environment in a quantitative, comprehensive and consistent framework. IEEM elucidates the two-way interrelationships between the economy and environment, considering how economic activities depend on the environment as a source of inputs and as a sink for its outputs. In addition to standard economic impact indicators such as gross domestic product, income and employment, IEEM generates indicators that describe policy impacts on the use of environmental resources, wealth and environmental quality which together determine prospects for future economic growth and well-being. To illustrate the analytical capacity of IEEM, the model is calibrated with Guatemala's environmental-economic accounts and applied to analysis of its forest and fuelwood sector where negative health and environmental impacts arise from inefficient household fuelwood use.
Credit Supply in Venezuela: A Non-Conventional Bank Lending Channel?
Authors: Pagliacci Carolina , Chirinos-Leañez Ana María
Published: March 2024

This paper evaluates whether fiscal and foreign exchange policy shocks canexplain both credit and credit supply in Venezuela. Empirical evidence suggests that between 65 and 90 percent of credit growth is linked to the buildup of banks' deposits caused by the monetary effects of fiscal expansions. For these cases, since credit is provided at equal or reduced interest rates, credit supply takes place. Loan supply can occur either endogenously, when fiscal domestic spending increases with expansionary aggregate supply shocks, or exogenously, when fiscal policy shocks emerge. The role of exogenous fiscal shocks in accounting for credit supply is preponderant in the long run. This evidence suggests fiscal shocks represent a non-conventional bank lending channel. Because this exogenous fiscally-triggered credit supply does not significantly contribute to boosting real activity, its major cost might be associated with high credit volatility.
Bankruptcy Choice with Endogenous Financial Constraints
Authors: Rud Juan Pablo
Published: March 2024

In this paper we study firm dynamics and industry equilibrium when firms under financial distress face a non-trivial choice between alternative bankruptcy procedures. Given limited commitment and asymmetric information, financial contracts specify default, renegotiation and reorganization policies. Renegotiation entails a redistribution of social surplus, while reorganization takes the form of enhanced creditor monitoring. Firms with better contract histories are less likely to default, but, contingent on default, firms with better outside options successfully renegotiate, in line with the empirical evidence. Unless monitoring is too costly, renegotiation leads to reorganization, which resembles actual bankruptcy practice. We calibrate the model to match certain aspects of the data on bankruptcy and firm dynamics in the United States. Our counterfactual experiments suggest that poorly designed bankruptcy arrangements can increase substantially the fraction of firms facing financial constraints, with sizable negative implications for aggregate output and TFP.
Labor Market Search, Informality and Schooling Investments
Authors: Flabbi Luca , Bobba Matteo , Levy Algazi Santiago
Published: March 2024

This paper develops a search and matching model where firms and workers are allowed to form matches (jobs) that can be formal or informal. Workers optimally choose the level of schooling acquired before entering the labor market and whether to search for a job as unemployed or as self-employed. Firms optimally decide the formality status of the job and bargain with workers over wages. The resulting equilibrium size of the informal sector is an endogenous function of labor market parameters and institutions. The paper focuses on an increasingly important institution: a “dual” social protection system whereby contributory benefits in the formal sector coexist with non-contributory benefits in the informal sector. Preferences are estimated for the system—together with all the other structural parameters of the labor market—using labor force survey data from Mexico and the time-staggered entry across municipalities of a non-contributory social program. Policy experiments show that informality may be reduced by either increasing or decreasing the payroll tax rate in the formal sector. They also show that a universal social security benefit system would decrease informality, incentivize schooling, and increase productivity at a relative fiscal cost similar to that generated by the current system.
Participación por contrato: La participación como mecanismo contractual en la políticas sociales
Authors: De Sebastián Luis
Published: March 2024

Este trabajo propone un marco para analizar lógica y ordenadamente un sinnúmero de observaciones y experiencias recogidas en la ejecución de los programas y proyectos en que se plasman las políticas sociales. También puede servir para sacar conclusiones prácticas, que serán de utilidad para los diseñadores de políticas y a los gerentes de programas sociales. Este marco se ha tomado de la teoría económica de los contratos, una rama de la economía relativamente reciente, desarrollada en el contexto de la moderna economía industrial, que, junto a la nueva economía institucional, proporciona ideas para el tratamiento económico de las organizaciones en general y las del sector público en particular. Estas teorías están sirviendo para darle un substrato económico a la actual preocupación con la "governance" o gobernabilidad de los países, un tema que convoca a economistas, sociólogos y políticos en una colaboración muy productiva y relevante a los problemas tanto de las democracias maduras como las de reciente data.
Integración Financiera en Centro América: Nuevos Desafíos en el Contexto de la Crisis Internacional
Authors: Rojas-Suárez Liliana , Galindo Arturo , Izquierdo Alejandro
Published: March 2024

Este documento analiza la importancia de la integración financiera en Centro América, enfatizando los efectos de la actual crisis internacional sobre los sistemas financieros de la subregión. Después de presentar evidencia sobre la integración financiera en Centro América y la compara con otros países de América Latina y otras regiones del mundo en vías de desarrollo, se describen dos factores importantes que han caracterizado el proceso de integración financiera en la última década y se analizan los efectos de la integración financiera y de la participación de la banca extranjera. Motivado por la actual crisis internacional, se enfatiza la respuesta de las variables financieras locales a shocks financieros internacionales. Finalmente, el documento deriva conclusiones y adelanta recomendaciones de política económica.
Los Servicios de Agua Potable en Chile: Condicionantes, Institucionalidad y Aspectos de Economía Política
Authors: Doña Juan E. , Morandé Felipe
Published: March 2024

El sector sanitario en Chile ha tenido un importante desarrollo en los últimos 30 años, alcanzando en 1995 una cobertura urbana del 98% en agua potable y del 89% en evacuación de aguas servidas (alcantarillado). Entre la década del 70 y la actualidad, aumentó significativamente la cobertura de agua potable y alcantarillado, se aplicó un esquema tarifario que permite el autofinanciamiento de la operación e inversión con los cobros a los usuarios, y la gestión en el sector urbano es desarrollada por empresas reguladas por un organismo independiente. A pesar de los cambios de organización e institucionalidad producidos, no se ha encontrado evidencia de que las modificaciones hayan afectado decisivamente el desempeño del sector, estimándose que éste ha sido históricamente adecuado por contar con el financiamiento requerido y con equipos de profesionales y técnicos que han tenido continuidad. Se abordan los logros y los problemas pendientes, y se concluye que en el sector urbano se ha alcanzado una etapa de desarrollo en que la propiedad estatal constituye un factor restrictivo para mejorar la calidad del servicio (racionamientos, bajas presiones, etc.) y desarrollar en un plazo corto el tratamiento generalizado de las aguas servidas.
El Ahorro Privado en Venezuela: Tendencias y Determinantes
Authors: Muñoz Rafael , Zambrano Sequín Luis , Guevara Juan Carlos , Riutort Matías
Published: March 2024

La característica notable del comportamiento de la tasa de ahorro privado en Venezuela es su tendencia secular a reducirse desde los elevados niveles experimentados durante los años setenta a los muy reducidos de los noventa. Adicionalmente a esta tendencia al deterioro, habría que añadir su alta volatilidad. Las razones que explican este resultado no sólo están referidas a los sucesivos shocks, externos e internos, que han afectado a Venezuela, sino también a la forma peculiar como se ha gestionado la política económica para enfrentar estos shocks. Así, a la alta variabilidad del ingreso generada por los impactos sorpresivos de los acontecimientos externos, se deben añadir, especialmente después del inicio de la crisis de la deuda externa en 1983, los shocks de política económica, y más específicamente el uso del tipo de cambio, como mecanismo fundamental para ajustar las finanzas públicas.
La violencia en Colombia: Dimensionamiento y politicas de control
Authors: Rubio Mauricio
Published: March 2024

"Incierto era ayer el nœmero de victimas que dejaron las incursiones de un grupo de autodefensas en Mapiripán (Meta). Aunque en el casco urbano fueron hallados tres cuerpos sin cabezas y otros dos que no fueron identificados, los pobladores aseguran que cerca de 30 personas fueron sacadas de sus casas, mutiladas y arrojadas a las aguas del río Guaviare. Según los habitantes, el grupo armado comenzó a matar a sus víctimas el martes y terminó el domingo. A las 8 de la noche, obligaba a apagar la planta eléctrica que le suministra la luz a todo el pueblo. "Sacaban a la gente de sus casas y amanecían muertos. Nunca se escucharon tiros, porque los degollaban", dijo un poblador. Esta incursión generó un éxodo de campesinos. El domingo, por avión, salieron de Mapiripán cerca de 200 personas. .. Hasta el juez promiscuo municipal tuvo que salir de la región. El era la única representación de la justicia en dicho municipio, porque de la policía lo único que quedan son las ruinas de una estación llena de maleza, que fue abandonada el 16 de enero de 1995, tras un ataque guerrillero". Este incidente, casi rutinario para la prensa colombiana , presenta varias facetas de la violencia colombiana que se pretenden destacar con este trabajo. Ilustra la incertidumbre acerca de la magnitud de la violencia. Muestra que en el país ya se está perdiendo la capacidad para contar los muertos. Sugiere que una fracción importante y creciente del fenómeno no encaja dentro del diagnóstico tradicional, el de una violencia urbana, ajena a los grupos armados y producto de la intolerancia. Señala un impacto devastador y cada vez más difícil de cuantificar, resaltando que los esfuerzos contra la violencia no se deben sustentar en análisis beneficio-costo. Pone de presente la total ausencia de autoridad estatal en algunas regiones en donde quienes mandan son los grupos armados ilegales. Señala, en particular, la fragilidad de la justicia penal ante la violencia ejercida por los dictadores locales. Resalta las limitaciones de las políticas preventivas basadas en un mayor gasto público, sobretodo mientras el estado colombiano no recupere la autoridad y el monopolio de la coerción. Destaca la prioridad que debe recibir la tarea estatal de administrar justicia y sancionar a los homicidas.
Determinantes y composición del endeudamiento público en Colombia
Authors: Herrera Santiago
Published: March 2024

Tradicionalmente Colombia se ha considerado como el país más estable de la región, no habiendo experimentado las crisis de balanza de pagos ni corridas contra el peso, al menos en las proporciones registradas por sus vecinos. Por esta razón, es una economía que ha tenido acceso permanente a los mercados financieros internacionales, aunque se hayan presentado algunas coyunturas difíciles originadas por choques externos e internos. Entrelos primeros son referencia obligada la crisis de la deuda de comienzos de los años ochenta, y más recientemente el tequilazo de 1994 y la crisis asiática de 1997 y 1998.
Las instituciones del financiamiento de la vivienda en Argentina
Authors: Moya Ramiro , Cristini Marcela
Published: March 2024

En este trabajo se analiza el caso de la profundización del crédito hipotecario en Argentina durante los años 90 y se lo compara con el fracaso de los años 80. Se muestra que la estabilidad macroeconómica condiciona el desarrollo del mercado y que con las instituciones legales y de mercado apropiadas (competencia entre bancos y contratos en dólares) se logra un rápido despegue. El precio real de la propiedad y el desempleo influyen en la evolución del mercado, el cual se amplía al ritmo del aumento de la capacidad disponible para préstamos de los bancos. La hipoteca compitió con éxito con otras aplicaciones de fondos de los bancos por su capacidad de diversificar riesgos y su seguridad de cobro. Recientemente, una gravísima crisis macroeconómica llevó a una racha de incumplimiento de contratos que vulneró el derecho de cobro de hipotecas. La reconstrucción del mercado se anticipa muy lenta, dada la experiencia de los años 80. El proceso probablemente comprenderá la creación de alguna moneda de cuenta para la denominación de los contratos, la implementación de instrumentos del mercado de capitales alternativos a los bancarios y la mejora de la información, a fin de reducir los costos de transacción y conectar la demanda con inversionistas interesados en el negocio hipotecario.
Situación actual del financiamiento de la vivienda en Bolivia
Authors: Morales Rolando
Published: March 2024

Este trabajo está destinado a examinar las condiciones en las cuales se desenvuelve el crédito hipotecario para la vivienda en Bolivia. Se hace referencia al éxito que tuvo Bolivia en estabilizar su economía después de algunos años de fuerte inflación. En la década del noventa registró tasas de crecimiento bajas acompañadas de un alto déficit en Balanza de Pagos así como en el sector público. El campo monetario se caracterizó por la acelerada monetización, la dolarización, la vigencia de altas tasas de interés activas acompañadas de spreads elevados, el cierre de varios bancos importantes, la paulatina normalización e institucionalización del Banco Central y de la Superintendencia de Bancos y la emisión de los instrumentos legales relativos al funcionamiento del sistema financiero. En un marco macroeconómico relativamente complejo, la expansión del crédito hipotecario se enfrentó ante un sistema financiero poco desarrollado y una demanda moderada asociada básicamente a los bajos ingresos de las familias. El estudio hace hincapié en algunos problemas particulares resultantes de la dolarización de activos y pasivos monetarios. Concluye con recomendaciones de política enfocadas particularmente a la necesidad de adecuar el sistema crediticio a procesos de construcción progresivos, a la necesidad de proporcionar algún subsidio a la demanda en los sectores de bajos ingresos y a la conveniencia de abrir una línea de trabajo orientada a mostrar las ventajas públicas y privadas del mejoramiento de viviendas.
Aspectos del Sistema Tributario Argentino que Preocupan a los Inversionistas Extranjeros
Authors: Dukarevich Pablo , Barreiro Martín
Published: March 2024

El régimen tributario argentino es un aspecto fundamental en el análisis que efectúan los inversionistas extranjeros. En este documento detallamos algunas de sus principales falencias y las propuestas que los especialistas en finanzas públicas consideran que deberían implementarse a fin de fomentar la inversión en Argentina.
La Influencia de los Aspectos Institucionales en el Desempeño de las Políticas de Protección Social y Combate a la Pobreza en América Latina y el Caribe
Authors: Repetto Fabián , Sanguinetti Juan , Tommasi Mariano
Published: March 2024

Los países de América Latina y el Caribe tienen enormes desafíos ligados a la complejidad de la problemática social. Los avances alcanzados en materia de democratización política y mejoría del entorno económico requieren en la etapa actual de la región complementarse con mejores desempeños en materia de protección social y combate a la pobreza. Las estrategias de descentralización, privatización - desregulación y focalización llevadas a cabo en la última década han visto limitados sus efectos de cambio institucional, por causas variadas. Estas dificultades marcan en forma categórica la necesidad de impulsar y/o profundizar en toda la región una reforma institucional que haga foco en la construcción de una nueva estructura de incentivos y reglas de juego para estructurar las políticas de protección social y combate a la pobreza, ámbito en el cual participan múltiples actores. En este marco las instituciones resultan claves para entender la calidad de las intervenciones públicas.
Estudios Sobre Experiencias de Gestión de Personal: Mejores Prácticas en las Políticas de Reclutamiento, Selección y Promoción Basados en el Mérito
Authors: Marini Ferreira Caio
Published: March 2024

Este documento fue comisionado por la Red de Gestión Pública y Transparencia del Diálogo Regional de Política para la V Reunión Hemisférica celebrada los días 17 y 18 de marzo de 2005. La marca distintiva de este momento de transición por el que pasa la sociedad contemporánea es, sin duda, la cuestión del conocimiento. Desde el punto de vista práctico, las experiencias de implementación de programas de esta naturaleza han sido bastante variadas, siendo posible identificar por lo menos dos abordajes principales. El primero de ellos enfoca la cuestión como un problema de administración del acceso al conocimiento. En éste caso, las acciones se resumen en el uso intensivo de tecnología de la información (softwares), por medio de la creación de bases de conocimiento de los sistemas de identificación de perfiles y competencias esenciales (quién sabe, qué y dónde). El otro abordaje, menos difundido y ciertamente más complejo, se dirige al proceso de generación del conocimiento. Ambas perspectivas vienen provocando un acalorado debate sobre la necesidad de repensar las formas tradicionales de gestión, en particular las de gestión de las personas, donde el desafío principal está relacionado al desarrollo de mecanismos efectivos de atracción y retención de talentos dentro de las organizaciones.
Diagnóstico Institucional del Sistema de Servicio Civil en Venezuela
Authors: González de Pacheco Rosa Amelia
Published: March 2024

El presente documento es un estudio de caso sobre el Sistema de Servicio Civil (SSC) en Venezuela. Se concentra en el sistema de gestión del empleo público y los recursos humanos adscritos al gobierno central, aunque se presentan algunas estadísticas e indicadores cuantitativos que se extienden a la totalidad del sector público.
Rigideces Institucionales y Flexibilidad Presupuestaria: Origen, Motivación y Efectos sobre el Presupuesto
Authors: Moya Andrés , Bonilla Jorge Alexander , Echeverry Juan Carlos
Published: March 2024

Este documento fue comisionado por la Red de Gestión Pública y Transparencia del Diálogo Regional de Política para la VII Reunión Hemisférica celebrada los días 8 y 9 de mayo de 2006.
Modernización de la Educación Técnica Post-Secundaria: Opciones y Desafíos para América Latina y El Caribe
Authors:   Inter American Development Bank
Published: March 2024

Este documento incluye estudios que ponen sobre la mesa alternativas de educación técnica y vocacional que han sido probadas en la experiencia internacional. La evidencia analizada en este documento sugiere que la Educación Post-Secundaria no académica de la región crecerá de manera significativa durante la presente década. El comportamiento del mercado laboral muestra una demanda creciente por trabajadores especializados y técnicos, la que ya sobrepasa a la demanda por profesionales y académicos.
La profesión docente: más allá de la capacitación
Authors: Navarro Juan Carlos
Published: March 2024

Ante una situación como ésta, no sorprende demasiado que el aprendizaje en muchos sistemas escolares de los países en vías de desarrollo deje mucho que desear. Es cierto que varias de las características señaladas por la asesora también son, sin lugar a dudas, parte de la forma en que funciona la docencia en los países desarrollados.