scholarly journals Forecasting Latin America’s Country Risk Scores by Means of a Dynamic Diffusion Model

2013 ◽  
Vol 2013 ◽  
pp. 1-11 ◽  
Author(s):  
R. Cervelló-Royo ◽  
J.-C. Cortés ◽  
A. Sánchez-Sánchez ◽  
F.-J. Santonja ◽  
R.-J. Villanueva
Keyword(s):  
Diffusion Model ◽  
Latin American ◽  
Financial Risk ◽  
Global Financial Crisis ◽  
Country Risk ◽  
Risk Scores ◽  
Trade Offs ◽  
Market Instability ◽  
Almost All ◽  
Latin American Countries

Over the last years, worldwide financial market instability has shaken confidence in global economies. Global financial crisis and changes in sovereign debts ratings have affected the Latin American financial markets and their economies. However, Latin American’s relative resilience to the more acute rise in risk seen in other regions like Europe during last years is offering investors new options for improving risk-return trade-offs. Therefore, forecasting the future of economic situation involves high levels of uncertainty. The Country Risk Score (CRS) represents a broadly used indicator to measure the current situation of a country regarding measures of economic, political, and financial risk in order to determine country risk ratings. In this contribution, we present a diffusion model to study the dynamics of the CRS in 18 Latin American countries which considers both the endogenous effect of each country policies and the contagion effect among them. The model predicts quite well the evolution of the CRS in the short term despite the economic and political instability. Furthermore, the model reproduces and forecasts a slight increasing trend, on average, in the CRS dynamics for almost all Latin American countries over the next months.

scholarly journals Has the First Global Financial Crisis Changed the Entrepreneurial Values in Digitalized Marketing-based Societies? The Case of GEM Latin American Countries

2017 ◽  
Author(s):  
José Manuel Saiz Álvarez ◽  
Alicia Coduras Martínez ◽  
Carlos Cuervo Arango
Keyword(s):  
Financial Crisis ◽  
Information And Communication Technologies ◽  
Latin American ◽  
Global Financial Crisis ◽  
Digital Marketing ◽  
Entrepreneurial Activity ◽  
Business Creation ◽  
Information And Communication ◽  
Using Data ◽  
Latin American Countries

As the world economy is globalized, crises are rapidly spread due to the massive use of ICTs (Information and Communication Technologies), also affecting the entrepreneurial values involved in business creation processes. In this sense, digital marketing has a key role to play, as it can serve as a tool based on technology applied to foster nascent entrepreneurship. Using data for GEM Latin American countries, and applying clustering analysis based on the K-means method, the objective of this work is to test if the actual First Global Financial Crisis (FGFC) has altered the entrepreneurial values in Latin American firms. The main result of this work is that the traits of entrepreneurial activity in GEM Latin American countries have progressively shifted from quantity to quality, so digital marketing is having an increasing importance.

Solving the Problems of Finding Law on the Web: World Law and DIAL

2001 ◽  
Vol 29 (2) ◽  
pp. 383-419 ◽  
Author(s):  
Graham Greenleaf
Keyword(s):  
South Africa ◽  
Developing Countries ◽  
United Kingdom ◽  
Latin American ◽  
Full Text ◽  
The United Kingdom ◽  
The Usa ◽  
Almost All ◽  
Latin American Countries ◽  
The Web

Despite its recent development, the Web already contains an astonishing variety of legal materials from dozens of countries. Significant collections of legislation are already available on the Web from over 50 countries. The full text is available on the Web of all legislation from almost all the jurisdictions of the USA, Canada, Australasia, many Latin American countries and some European countries (such as Norway and Germany), and extensive collections from many other European counties (such as the United Kingdom, France, Spain, Portugal). Substantial collections of legislation are available from many developing countries, including India, Turkey, Kazakhstan, South Africa, Vietnam, Zambia, China, Mexico and Israel.

GLOBAL BANK RISK AND MONETARY POLICY IN AN EMERGING ECONOMY

2021 ◽  
pp. 1-32
Author(s):  
Paul Luk
Keyword(s):  
Monetary Policy ◽  
Financial Risk ◽  
Global Financial Crisis ◽  
Emerging Economy ◽  
Exchange Rate Flexibility ◽  
Trade Offs ◽  
Global Banking ◽  
The Usa ◽  
The Global Financial Crisis ◽  
Global Banks

The global financial crisis was characterized by heightened financial risk in the USA, which spread to the rest of the world, including emerging economies. This paper constructs a core–periphery model with a global banking network and financial frictions. Due to a common-lender effect, when global banks lend to an emerging economy, heightened financial risk in the center depresses cross-border lending to the emerging economy, reducing real activities and exacerbating monetary policy trade-offs. As financial markets become more integrated, exchange rate flexibility becomes less welfare enhancing and active capital account policy becomes more welfare enhancing.

Latin America: Farewell to Dependency

2015 ◽  
pp. 85-94
Author(s):  
V. Krasil’shchikov
Keyword(s):  
Latin America ◽  
Latin American ◽  
Endogenous Development ◽  
Left Wing ◽  
Left Turn ◽  
Social Actors ◽  
Knowledge Based ◽  
The 1960S ◽  
Almost All ◽  
Latin American Countries

The paper deals with the problem of dependent development and conservative modernization in Latin America. Whereas external dependency has been the permanent feature of Latin American development since colonial times, conservative modernization can be treated as the essential effect of this development. Almost all significant reforms in Latin American countries began earlier than the own premises for them could mature, because they were the obliged responses to the external challenges and shocks the continent underwent. The social actors of those reforms were often interested in adaptation of the obsolete socioeconomic structures and relationships to the changed external conditions instead of their destruction and genuine social renewal. The cases of authoritarian modernizations in the Southern Cone countries in the 1960s–80s clearly illustrated such attempts of the ruling groups to go forward whilst looking back. The neoliberal reforms of the 1990s demonstrated, at first glance, continuation of this practice being a form of modernisation for the upper classes’ advantages. Meanwhile, as the author argues, these reforms were actually a “swan song” of conservative modernization in Latin America. The “left turn” of the next decade did not abolish external dependency of Latin American countries, but created some important premises for the rise of internally rooted impulses to endogenous development. The new social actors of this development, such as various NGOs and left-wing movements, began to emerge in Latin America. They propose own programmes of transition towards a knowledge-based, innovative economy. This phenomenon allows to suppose that some Latin American countries have real chances for technological breakthroughs in the future, and it will be the genuine deliverance from the model of a dependent, imitative development.

China's Belt and Road Initiative in Latin America: What has Changed?

2021 ◽  
pp. 186810262110478
Author(s):  
Rhys Jenkins
Keyword(s):  
Latin America ◽  
Latin American ◽  
Global Financial Crisis ◽  
Belt And Road Initiative ◽  
Economic Relations ◽  
Policy Statements ◽  
Belt And Road ◽  
The Global Financial Crisis ◽  
Latin American Countries ◽  
The Belt And Road

When China invited the Latin American countries to participate in the Belt and Road Initiative, it fuelled expectations of a much closer and more productive relationship with the region. In practice, however, there is little evidence that this was happening even before the coronavirus disease 2019 pandemic. The article shows that neither the policy statements by China nor the trends in economic relations indicate a substantive change in Sino–Latin American relations and that the Belt and Road Initiative represents a repackaging of existing relations and the continuation of trends that have been underway since the global financial crisis.

scholarly journals Conservative Governments and Latin America's Human Rights Landscape

AJIL Unbound ◽  
2019 ◽  
Vol 113 ◽  
pp. 375-379 ◽  
Author(s):  
Jorge Contesse
Keyword(s):  
Human Rights ◽  
Latin American ◽  
Case Law ◽  
Right Wing ◽  
Left Wing ◽  
Long Run ◽  
Protection Of Human Rights ◽  
Almost All ◽  
Latin American Countries

In 2009, as the American Convention on Human Rights turned forty, Left-wing governments ruled in almost all Latin American countries. The democratization wave that began in the late 1980s had produced a seemingly hegemonic turn to the Left—the so-called “Pink Tide.” A decade later, the political landscape was radically different. With only a few exceptions, Right-wing governments are in power throughout Latin America. The implications of the conservative wave have been felt in a number of areas—including human rights. This essay explores the ways in which the new conservative governments of Latin American have tried to curb the inter-American human rights system and examines the potential long-term consequences that their efforts may have on the regional system and the protection of human rights. It then suggests possible avenues for sound engagement between states and the system, observing that the Inter-American Court's expansive case law may cause more harm in the long run.

scholarly journals CHANGES IN THE CHINESE DEVELOPMENT STRATEGY AFTER THE GLOBAL CRISIS AND ITS IMPACTS IN LATIN AMERICA

2018 ◽  
Vol 22 (1) ◽  
Author(s):  
Celio Hiratuka
Keyword(s):  
Latin America ◽  
Development Strategy ◽  
Latin American ◽  
Global Financial Crisis ◽  
Trade Flows ◽  
First Century ◽  
Economic Relations ◽  
New Challenges ◽  
The Global Financial Crisis ◽  
Latin American Countries

ABSTRACT This paper aims to analyze the recent changes in economic relations between Latin American countries and China in the context of the transformations occurred in the latter’s development strategy after the global financial crisis. The text argues that, in relation to the first decade of the twenty-first century, connections linked to FDI, financing flows, and infrastructure projects have been growing in importance and present new challenges to Latin America, which surpass the ones based only on trade flows.

GLOBAL BANK RISK AND MONETARY POLICY IN AN EMERGING ECONOMY

2021 ◽  
pp. 1-32
Author(s):  
Paul Luk
Keyword(s):  
Monetary Policy ◽  
Financial Risk ◽  
Global Financial Crisis ◽  
Emerging Economy ◽  
Exchange Rate Flexibility ◽  
Trade Offs ◽  
Global Banking ◽  
The Usa ◽  
The Global Financial Crisis ◽  
Global Banks

The global financial crisis was characterized by heightened financial risk in the USA, which spread to the rest of the world, including emerging economies. This paper constructs a core–periphery model with a global banking network and financial frictions. Due to a common-lender effect, when global banks lend to an emerging economy, heightened financial risk in the center depresses cross-border lending to the emerging economy, reducing real activities, and exacerbating monetary policy trade-offs. As financial markets become more integrated, exchange rate flexibility becomes less welfare enhancing and active capital account policy becomes more welfare enhancing.

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