cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.6084/m9.figshare.19964527.v1
title: Central banking reform and overcoming the moral hazard problem: the case of Brazil

description: ABSTRACT The implicit assumption that governments will bailout financial institutions under distress can generate negative incentives for the development of a sound financial system. This paper begins from the premise that these negative incentives, which create a situation of moral hazard, is essentially a political problem rather than a technical problem over generating correct institutional incentives. In the Brazilian case, we argue the current administration of Fernando Henrique Cardoso was only able to significantly reduce its moral hazard problem in the financial sector through distancing its political relationship with two important political actors: the private financial sector and state governors. The ability of the government to eliminate the implicit assumption of an eventual Central Bank bailout over public and private commercial banks was only made possible through a series of political conditions, which includes the end of hyper-inflation under the Real Plan, that reduced the government’s dependence upon those two important political actors.
DOI: 10.6073/pasta/f5d57d68f7412580c8eda1ab492eab35
title: Jornada Basin LTER Cross-scale Interactions Study (CSIS) Block 13 meteorological station: 1-hour summary data: 2017 - ongoing

description: This data package contains hourly air temperature, relative humidity, wind speed, wind direction, and precipitation summary data from Jornada Basin LTER Cross Scale Interactions Study (CSIS) Block-13 met station. Air temperature, relative humidity, wind speed, wind direction, and precipitation are measured and calculated at an automated meteorological station connected to a 900 MHz spread spectrum wireless network. Wind speed is measured at 37cm, 75 cm, 150 cm, and 300 cm, wind direction at approximately 3m, and air temperature and relative humidity at approximate 2.5m. Measurements are aggregated at intervals of 5, 30, 60 minutes and daily, with precipitation additionally provided with 1 second aggregation during precipitation events. Precipitation is not measured at Block 1 and Block 12 because of proximity to Block 2 and Block 13, respectively . This is an ONGOING dataset.
DOI: 10.6084/m9.figshare.19964530
title: Introduction: Debates, performance and the political choice policies

description: ABSTRACT Despite the widespread adoption of market reforms in Latin America over the past decade, there is still no consensus about the type of exchange rate regime that would best complement a liberal economic model. While there has been a distinct shift from fixed to floating rates since the Mexican peso crisis of 1994, the empirical evidence is ambivalent when it comes to measuring policy success under any one regime. ln light of this empirical ambivalence, this introductory article argues that a more fruitful line of research lies in understanding the political economy lessons that can be gleaned from the standpoint of exchange rate management. These entails, first, an examination of the conflicting pressures that special interests exert on policy officials to maintain the exchange rate at a certain level; and second, it requires analysis of the broader institutional mechanisms through which monetary policy is mediated. The article suggests that policy “success” or “failure” can depend as much of policymakers’ tenacity and statecraft as of the technicalities of macroeconomic policymaking.
DOI: 10.6084/m9.figshare.19964530.v1
title: Introduction: Debates, performance and the political choice policies

description: ABSTRACT Despite the widespread adoption of market reforms in Latin America over the past decade, there is still no consensus about the type of exchange rate regime that would best complement a liberal economic model. While there has been a distinct shift from fixed to floating rates since the Mexican peso crisis of 1994, the empirical evidence is ambivalent when it comes to measuring policy success under any one regime. ln light of this empirical ambivalence, this introductory article argues that a more fruitful line of research lies in understanding the political economy lessons that can be gleaned from the standpoint of exchange rate management. These entails, first, an examination of the conflicting pressures that special interests exert on policy officials to maintain the exchange rate at a certain level; and second, it requires analysis of the broader institutional mechanisms through which monetary policy is mediated. The article suggests that policy “success” or “failure” can depend as much of policymakers’ tenacity and statecraft as of the technicalities of macroeconomic policymaking.
DOI: 10.5517/ccdc.csd.cc23m2qk
title: CCDC 1954758: Experimental Crystal Structure Determination

description: Related Article: Adedibu C. Tella, Adetola C. Oladipo, Victoria T. Olayemi, Allen Gordon, Adeniyi S. Ogunlaja, Lukman O. Alimi, Stephen P. Argent, Robert Mokaya, Guy J. Clarkson, Richard I. Walton|2022|Struct.Chem.|33|1257|doi:10.1007/s11224-022-01935-x
description: An entry from the Cambridge Structural Database, the world’s repository for small molecule crystal structures. The entry contains experimental data from a crystal diffraction study. The deposited dataset for this entry is freely available from the CCDC and typically includes 3D coordinates, cell parameters, space group, experimental conditions and quality measures.
DOI: 10.6084/m9.figshare.19964533
title: Brazilian monetary crisis: migrating from the exchange rate anchor to the flexible regime

description: ABSTRACT The author begins by asking why Brazilian policymakers opted to target the exchange rate to stabilize inflation when this strategy had already failed in Mexico. The answer: it was no longer possible to accommodate the country’s high inflation rate through the pervasive use of price indexation and a competitive exchange rate policy. Under conditions of high inflation, the anchoring of the exchange rate within the Real Plan was the quickest route toward price stability. However, policy success also required deep fiscal adjustment, and traditional Brazilian politics stubbornly resisted the necessary tax reforms. In contrast to Mexico, where the peso crash was fueled by reckless private sector spending and borrowing, Brazil’s January 1999 devaluation was triggered by chronically high fiscal deficits. Brazil’s rapid recovery under a flexible currency regime suggests that the macroeconomic fundamentals are back on track; the challenge now lies in the crafting of a viable pro-reform political coalition that can cut through the numerous parochial interests that converged to provoke the 1999 devaluation.
DOI: 10.6084/m9.figshare.19964533.v1
title: Brazilian monetary crisis: migrating from the exchange rate anchor to the flexible regime

description: ABSTRACT The author begins by asking why Brazilian policymakers opted to target the exchange rate to stabilize inflation when this strategy had already failed in Mexico. The answer: it was no longer possible to accommodate the country’s high inflation rate through the pervasive use of price indexation and a competitive exchange rate policy. Under conditions of high inflation, the anchoring of the exchange rate within the Real Plan was the quickest route toward price stability. However, policy success also required deep fiscal adjustment, and traditional Brazilian politics stubbornly resisted the necessary tax reforms. In contrast to Mexico, where the peso crash was fueled by reckless private sector spending and borrowing, Brazil’s January 1999 devaluation was triggered by chronically high fiscal deficits. Brazil’s rapid recovery under a flexible currency regime suggests that the macroeconomic fundamentals are back on track; the challenge now lies in the crafting of a viable pro-reform political coalition that can cut through the numerous parochial interests that converged to provoke the 1999 devaluation.
DOI: 10.6084/m9.figshare.19964532.v1
title: The Mexican Peso break: causes, consequences and recovery

description: ABSTRACT This article traces the ways in which political, economic, domestic, and international factors converged to provoke a massive financial crisis in Mexico in 1994/5, as well as the consequences of this crisis for future reform efforts. The author argues that the maintenance of an overvalued exchange rate prior to the crisis enabled the ruling PRI party to appeal to a broad range of domestic interests. International investors, who held an unprecedented $34 billion in Mexican equities in 1994, were equally adamant in defending the anchored exchange rate. However, in attempting to appease both domestic and foreign interests, the Salinas administration lost control of the macroeconomic fundamentals. While the combination of a massive multi-lateral loan and the shift to a floating exchange rate paved the way for Mexico’s rapid economic recovery, a main legacy of the crisis was the political demise of the PRI. Although political liberalization was certainly not part of the PRI’s original game plan, thanks to its own reckless policy errors, a main legacy of the peso crisis was the advent of more open politics in Mexico. Because of this, the politics of economic policymaking under the new Fox administration may not be as neatly packaged as under the PRI, but there are already unprecedented signs of debate, accountability, and compromise.
DOI: 10.6084/m9.figshare.19964532
title: The Mexican Peso break: causes, consequences and recovery

description: ABSTRACT This article traces the ways in which political, economic, domestic, and international factors converged to provoke a massive financial crisis in Mexico in 1994/5, as well as the consequences of this crisis for future reform efforts. The author argues that the maintenance of an overvalued exchange rate prior to the crisis enabled the ruling PRI party to appeal to a broad range of domestic interests. International investors, who held an unprecedented $34 billion in Mexican equities in 1994, were equally adamant in defending the anchored exchange rate. However, in attempting to appease both domestic and foreign interests, the Salinas administration lost control of the macroeconomic fundamentals. While the combination of a massive multi-lateral loan and the shift to a floating exchange rate paved the way for Mexico’s rapid economic recovery, a main legacy of the crisis was the political demise of the PRI. Although political liberalization was certainly not part of the PRI’s original game plan, thanks to its own reckless policy errors, a main legacy of the peso crisis was the advent of more open politics in Mexico. Because of this, the politics of economic policymaking under the new Fox administration may not be as neatly packaged as under the PRI, but there are already unprecedented signs of debate, accountability, and compromise.
DOI: 10.6084/m9.figshare.19964536
title: Argentina’s currency board: what keep them together?

description: ABSTRACT As the one Latin American emerging market country that has steadfastly adhered to a fixed exchange rate for more than a decade, this article examines the economic and political trade-offs that peso-dollar parity has entailed. In economic terms, the currency board has clearly fostered macroeconomic stability and fiscal prudence. Yet, the maintenance of a fixed currency regime in the context of volatile capital flows has also contributed to the steady appreciation of the peso over time. This trend, along with certain political deals (slow labor market reform and generous government transfers to the provinces) struck at the outset of the reform program, has greatly hampered the productivity and dynamism of the Argentine economy. The country’s weak competitive position has been exacerbated by the Brazilian devaluation of 1999, and the lesson since then has been how difficult it is to craft a political coalition to tackle the formidable microeconomic tasks now at hand.
DOI: 10.6084/m9.figshare.19964536.v1
title: Argentina’s currency board: what keep them together?

description: ABSTRACT As the one Latin American emerging market country that has steadfastly adhered to a fixed exchange rate for more than a decade, this article examines the economic and political trade-offs that peso-dollar parity has entailed. In economic terms, the currency board has clearly fostered macroeconomic stability and fiscal prudence. Yet, the maintenance of a fixed currency regime in the context of volatile capital flows has also contributed to the steady appreciation of the peso over time. This trend, along with certain political deals (slow labor market reform and generous government transfers to the provinces) struck at the outset of the reform program, has greatly hampered the productivity and dynamism of the Argentine economy. The country’s weak competitive position has been exacerbated by the Brazilian devaluation of 1999, and the lesson since then has been how difficult it is to craft a political coalition to tackle the formidable microeconomic tasks now at hand.
DOI: 10.6084/m9.figshare.19964539
title: Latin American integration in the first decade of the millennium

description: ABSTRACT This paper analyzes the outlook for Latin American economic integration at three interrelated levels: multilateral, hemispheric and sub-regional. At the multilateral level, it argues that the WTO is not prepared to regulate the competition patterns engendered by the information revolution, and this implies an interim role for regional institutions. At the hemispheric level, it shows that the FTAA will not provoke immediate threats to sub-regional agreements such as Mercosur, Andean Community and CARICOM. Consequently, the main challenge to be faced by Latin American governments in the near future is to manage the interplay between domestic policies and their sub-regional agreements.
DOI: 10.6084/m9.figshare.19964539.v1
title: Latin American integration in the first decade of the millennium

description: ABSTRACT This paper analyzes the outlook for Latin American economic integration at three interrelated levels: multilateral, hemispheric and sub-regional. At the multilateral level, it argues that the WTO is not prepared to regulate the competition patterns engendered by the information revolution, and this implies an interim role for regional institutions. At the hemispheric level, it shows that the FTAA will not provoke immediate threats to sub-regional agreements such as Mercosur, Andean Community and CARICOM. Consequently, the main challenge to be faced by Latin American governments in the near future is to manage the interplay between domestic policies and their sub-regional agreements.
DOI: 10.6084/m9.figshare.19964542
title: Fiscal policy of Real Plan and the fiscal adjustment for 1999/2001

description: ABSTRACT The main purpose of this article is to analyze the results of fiscal policy management in Brazil during the period between 1994 and 1999. The central idea of the text is that there was no significant change in the fiscal management during the period, even considering the fiscal adjustment program under the IMF arrangement. The policy’s emphasis has been the short run approach, based on the raising of the fiscal revenues as a way to avoid primary deficits deterioration. In contrast, the structural reforms necessary to support the fiscal adjustment have been continuously postponed.
DOI: 10.6084/m9.figshare.19964542.v1
title: Fiscal policy of Real Plan and the fiscal adjustment for 1999/2001

description: ABSTRACT The main purpose of this article is to analyze the results of fiscal policy management in Brazil during the period between 1994 and 1999. The central idea of the text is that there was no significant change in the fiscal management during the period, even considering the fiscal adjustment program under the IMF arrangement. The policy’s emphasis has been the short run approach, based on the raising of the fiscal revenues as a way to avoid primary deficits deterioration. In contrast, the structural reforms necessary to support the fiscal adjustment have been continuously postponed.
DOI: 10.6084/m9.figshare.19964541
title: Outdated reform states and the issue of devaluation: Venezuela’s reaction to 1997-98 exogenous shocks

description: ABSTRACT Having just completed its second consecutive “lost decade”, the Venezuelan case confirms that there are no short cuts to sound political economic management in the era of high capital mobility and securitized capital flows. The maintenance of a muddling-through exchange rate strategy has triumphed, at least for the time being, and enabled an elite executive-level coalition to prevail in pursuing a less than optimal macroeconomic policy. The author argues that Venezuela has avoided a full-blown Mexican or Brazilian-style devaluation by virtue of the Central Bank’s ability to effectively manage the exchange rate. However, this has been the only pocket of modernization, as policymakers throughout the rest of the state bureaucracy have rejected the kinds of market reforms that will be necessary to reverse the country’s highly mediocre performance. While high oil prices since 1999 have afforded politicians and policymakers the “luxury” of being a reform laggard, Venezuelan leaders seem determined to learn the hard way that international trends could again swing against them on a moment’s notice.
DOI: 10.6084/m9.figshare.19964541.v1
title: Outdated reform states and the issue of devaluation: Venezuela’s reaction to 1997-98 exogenous shocks

description: ABSTRACT Having just completed its second consecutive “lost decade”, the Venezuelan case confirms that there are no short cuts to sound political economic management in the era of high capital mobility and securitized capital flows. The maintenance of a muddling-through exchange rate strategy has triumphed, at least for the time being, and enabled an elite executive-level coalition to prevail in pursuing a less than optimal macroeconomic policy. The author argues that Venezuela has avoided a full-blown Mexican or Brazilian-style devaluation by virtue of the Central Bank’s ability to effectively manage the exchange rate. However, this has been the only pocket of modernization, as policymakers throughout the rest of the state bureaucracy have rejected the kinds of market reforms that will be necessary to reverse the country’s highly mediocre performance. While high oil prices since 1999 have afforded politicians and policymakers the “luxury” of being a reform laggard, Venezuelan leaders seem determined to learn the hard way that international trends could again swing against them on a moment’s notice.
DOI: 10.6084/m9.figshare.19964544.v1
title: The Quest for Gold: Monetary Debates in Nineteenth-century Brazil

description: ABSTRACT The paper examines some aspects of the monetary controversies which took place in several countries during the nineteenth century. In Brazil advocates of the gold standard and monetary restraint, known as metalistas, prevailed over papelistas, whose major desire was monetary expansion and credit creation. It will be argued that previous treatments of monetary debates in nineteenth-century Brazil have overlooked a crucial point, namely, the defence (or otherwise) of convertibility of the mil-réis. This has led to erroneous interpretations of the ideology underlying monetary management in the period.
DOI: 10.6084/m9.figshare.19964544
title: The Quest for Gold: Monetary Debates in Nineteenth-century Brazil

description: ABSTRACT The paper examines some aspects of the monetary controversies which took place in several countries during the nineteenth century. In Brazil advocates of the gold standard and monetary restraint, known as metalistas, prevailed over papelistas, whose major desire was monetary expansion and credit creation. It will be argued that previous treatments of monetary debates in nineteenth-century Brazil have overlooked a crucial point, namely, the defence (or otherwise) of convertibility of the mil-réis. This has led to erroneous interpretations of the ideology underlying monetary management in the period.
DOI: 10.6084/m9.figshare.19887515
title: PROCERA: Institutionality, subsidy and effectiveness

description: ABSTRACT This paper presents the results of a research on the efficacy of the Special Program of Credit for Agrarian Reform (PROCERA). It begins by showing the recent evolution of disbursements within the Program, the sources of funds and the subsidy rate. It then proceeds by discussing the objectives of the Program and proposing a measure of its efficacy. In addition to that, it is argued that, due to the high subsidy rate and the Program’s institutional framework, that generates the belief on the part of the borrower that the loan is not to be paid, the Program’s efficacy must be very low. This means that most credit is used to buy consumer goods or to increase production for self-consumption, instead of increasing production geared to the market. Some empirical evidence in favor of this hypothesis is also presented.
DOI: 10.6084/m9.figshare.19887515.v1
title: PROCERA: Institutionality, subsidy and effectiveness

description: ABSTRACT This paper presents the results of a research on the efficacy of the Special Program of Credit for Agrarian Reform (PROCERA). It begins by showing the recent evolution of disbursements within the Program, the sources of funds and the subsidy rate. It then proceeds by discussing the objectives of the Program and proposing a measure of its efficacy. In addition to that, it is argued that, due to the high subsidy rate and the Program’s institutional framework, that generates the belief on the part of the borrower that the loan is not to be paid, the Program’s efficacy must be very low. This means that most credit is used to buy consumer goods or to increase production for self-consumption, instead of increasing production geared to the market. Some empirical evidence in favor of this hypothesis is also presented.
DOI: 10.6084/m9.figshare.19964547
title: Silicon Valley in the South

description: ABSTRACT New trends are now taking place within manufacturing industries led by multi-national corporations (MNCs). Globalization and liberalization together with the information technology (IT) revolution has accelerated “fables” industry in the network economy, i.e. outsourcing production processes and global parts procurement by MNCs. As a consequence of this, the primary function of the MNC has changed from that of manufacturer to ‘service’ provider by outsourcing production processes to foreign contract manufacturers (CMs). NAFTA in fact mutated Mexico into a production platform toward the US and Canada as well as Latin American countries. We can observe these dramatic changes, for instance, in Guadalajara in Mexico, now called the “Silicon Valley in the South”. Since MNCs use their brand names to sell products, their business function becomes close to that of the fashion industry. They market their products in the same way as Gucci and Chanel sell products of original design carrying their brand names. Therefore, product design and marketing become highly important for MNCs to achieve success in business while domestic providers have been left behind for their parts and components supply in this new global supply chain.