Latin America remittances will rise despite obstacles

Subject Remittances to Latin America. Significance Family remittances to Latin America and the Caribbean (LAC) totalled 80 billion dollars in 2017, up from 74 billion in 2016. The record amount was mainly due to a robust economy and increasing employment opportunities in the United States. Impacts The US economy will again drive remittances growth this year, but immigration crackdowns could create downside risks. The slow reduction in sending costs will limit the development impact of remittances in LAC and other developing nations. So-called de-risking and regulatory burdens are high obstacles to remittances growth.

2020 ◽  
Vol 72 (4) ◽  
pp. 625-652 ◽  
Author(s):  
Jairo Buitrago Ciro ◽  
Lynne Bowker

PurposeThis is a comparative investigation of how university libraries in the United States, Canada and Spanish-speaking Latin America are responding to predatory publishing.Design/methodology/approachThe Times Higher Education World University Rankings was used to identify the top ten universities from each of the US and Canada, as well as the top 20 Spanish-language universities in Latin America. Each university library's website was scrutinized to discover whether the libraries employed scholarly communication librarians, whether they offered scholarly communication workshops, or whether they shared information about scholarly communication on their websites. This information was further examined to determine if it discussed predatory publishing specifically.FindingsMost libraries in the US/Canada sample employ scholarly communication librarians and nearly half offer workshops on predatory publishing. No library in the Latin America sample employed a scholarly communication specialist and just one offered a workshop addressing predatory publishing. The websites of the libraries in the US and Canada addressed predatory publishing both indirectly and directly, with US libraries favoring the former approach and Canadian libraries tending towards the latter. Predatory publishing was rarely addressed directly by the libraries in the Latin America sample; however, all discussed self-archiving and/or Open Access.Research limitations/implicationsBrazilian universities were excluded owing to the researchers' language limitations. Data were collected between September 15 and 30, 2019, so it represents a snapshot of information available at that time. The study was limited to an analysis of library websites using a fixed set of keywords, and it did not investigate whether other campus units were involved or whether other methods of informing researchers about predatory publishing were being used.Originality/valueThe study reveals some best practices leading to recommendations to help academic libraries combat predatory publishing and improve scholarly publishing literacy among researchers.


Subject Growing remittances to Latin America. Significance Family remittances to Latin America and the Caribbean (LAC) have been growing strongly in a year when immigration has become a central and controversial election issue in the United States. Impacts Strong remittance growth will have a positive impact on millions of low-income families in the region. A Trump presidency could lead to reduced LAC-US migration and a tax on remittances, probably slowing growth in 2017-18. LAC migrants and their families are set to benefit further from an expected continuing fall in sending costs.


Significance The slowdown led to extreme backlogs at the ports, which are responsible for about 45.0% of containerised cargo in the United States and goods representing 12.5% of GDP. Importers and exporters are concerned that the tactic of an economically-damaging slowdown or complete work stoppage may be repeated at the end of the contract, or at ports on the East or Gulf Coasts. Impacts The economic impact of the slowdown is calculated to have cost GDP one percentage point in the fourth quarter of 2014. State actions against unions will provide case studies for examining their impact on wage levels. The segmentation of the US economy has made low-income workers suited for greater unionisation. However, they are also most vulnerable to employer action and less able to withstand strikes.


Subject Renewable energy in the Caribbean. Significance At the Summit of the Americas on April 10-11, US President Barack Obama said that the United States would help Caribbean countries develop renewable energy sources. The Caribbean had an average cost of 0.33 dollars per kilowatt-hour (kWh) in 2012, nearly three times the US cost of electricity -- a considerable economic burden, not just in the region, but in nearly all island economies. Impacts The World Bank may attract attention as a focus point for investment less politically contentious than the United States or Venezuela. Renewable energy concepts may be first tested in Puerto Rico, which offers US legal protection to investors. Low oil prices may aid the shift to renewables in the region, by damaging Venezuela's regional influence.


Subject Remittance inflows in 2017. Significance Latin America and the Caribbean (LAC) will enjoy a high rate of remittance growth this year, with many LAC migrants benefiting from an improving labour market in the United States. Impacts Remittances will support reconstruction efforts in areas hit by natural disasters in recent months. LAC will continue to benefit from money transfer costs that are lower than in several other regions. For 2018, the World Bank predicts lower remittance growth for both developing nations and globally, at 3.5% and 3.4% respectively.


Subject Remittance growth in Latin America. Significance Remittances to Latin America and the Caribbean (LAC) grew almost 10% last year, with Mexico registering another year of record inflows, driven by strong economic growth and low unemployment in the United States. Impacts Strong remittance growth is helping to counter the impact of poor growth in many LAC countries. Remittances from Venezuelan migrants are helping to alleviate the suffering of relatives there, possibly to the government's benefit. Sending costs remain high in LAC, but migrants are embracing lower-cost digital services.


Subject Prospects for the US economy in 2017. Significance In recent years, the United States has become accustomed to sub-par 2% GDP growth and sustained low inflation. However, following disappointing performance in 2016, the US economy is poised for a moderate rebound in growth in 2017.


Subject Exploring the US current account beyond goods trade. Significance The US administration is focusing on the goods trade deficit to measure how well the country is doing in international transactions and to determine foreign economic policy. However, this ignores the many other transactions that cross the nation’s borders. For example, the United States is the world’s largest exporter of services. Moreover, trade is just one part of the current account, which also includes investment income and labour compensation. Financial flows are also important, dominating advanced countries international transactions since the 1980s and driving US exchange rates, trade balances and national savings. Impacts A permanently higher dollar due to the desire of investors to buy US assets will keep the US goods balance in deficit despite trade policy. The US economy is services-driven -- trade in services will grow as a share of US international transactions. An undue focus on manufacturing and goods trade places the US economy at risk of higher costs and slower productivity gains and GDP growth. To meet and diversify demand to invest in the United States, new safe assets including infrastructure bonds may emerge to fund projects.


2020 ◽  
Vol 26 (3) ◽  
Author(s):  
Linda J. Bilmes

AbstractThe United States has traditionally defined national security in the context of military threats and addressed them through military spending. This article considers whether the United States will rethink this mindset following the disruption of the Covid19 pandemic, during which a non-military actor has inflicted widespread harm. The author argues that the US will not redefine national security explicitly due to the importance of the military in the US economy and the bipartisan trend toward growing the military budget since 2001. However, the pandemic has opened the floodgates with respect to federal spending. This shift will enable the next administration to allocate greater resources to non-military threats such as climate change and emerging diseases, even as it continues to increase defense spending to address traditionally defined military threats such as hypersonics and cyberterrorism.


Significance Follow-on action from Washington and responses from foreign actors will shape the US government’s adversarial policy towards China in semiconductors and other strategic technologies. Impacts The Biden administration will likely conclude that broad-based diversion of the semiconductor supply chain away from China is not feasible. The United States will rely on export controls and political pressure to prevent diffusion to China of cutting-edge chip technologies. The United States will focus on persuading foreign semiconductor leaders to help develop US capabilities, thereby staying ahead of China. Washington will focus on less direct approaches to strategic technology competition with China, notably technical standards-setting. Industry leaders in the semiconductor supply chain worldwide will continue expanding business in China in less politically sensitive areas.


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