scholarly journals INTERNATIONAL AND REGIONAL CAPITAL MOBILITY IN LATIN AMERICAN COUNTRIES

2022 ◽  
Vol 0 (0) ◽  
pp. 1-21
Author(s):  
Valeryia Yersh
Keyword(s):  
Latin American ◽  
Regional Integration ◽  
Capital Mobility ◽  
Financial Integration ◽  
Domestic Saving ◽  
Domestic Investment ◽  
Investment Financing ◽  
Regional Capital ◽  
Andean Community

This study examines the role of global, regional and domestic saving for domestic investment financing in the panel of Latin American and Caribbean countries along with its three regional integration blocks, namely SICA, Andean Community and MERCOSUR. Panel regression and rolling-window estimation results reveal that global saving is the main source of domestic investment financing in the region of Latin America and the Caribbean, SICA, Andean Community and MERCOSUR. The role of domestic and regional savings is rather limited, implying that there are weak regional and domestic channels that can funnel domestic and regional savings into investment in the analysed samples. The importance of regional agreement saving is insignificant and decreases over the analysed period except for the Andean Community. The results indicate low financial integration of the member-countries within the three regional trade agreements.

Identity in Latin American Regionalism: The Andean Community

2020 ◽  
Author(s):  
Germán C. Prieto
Keyword(s):  
Latin America ◽  
Latin American ◽  
Collective Identity ◽  
Regional Integration ◽  
Three Dimensions ◽  
Political Issue ◽  
Language And Culture ◽  
The Relationship ◽  
Andean Community

Latin America is usually referred to as a homogeneous region that shares a collective identity based on common history, language and culture in general. As a result, it is broadly expected that collective identity should underpin and facilitate regional integration among Latin American states. However, the idea of a Latin American identity can be problematized, arguing that the concept of “Latin America” is more an exclusionary one than an integrator. Moreover, addressing collective identity as a social construction among state elites reveals the political disputes that lay at the backdrop of regionalism as a political enterprise. The relationship between identity and regionalism in Latin America can be discussed using a study of the role of collective identity in the unfolding of three case studies of the Andean Community. A constructivist approach can be engaged to show that it is possible to observe three dimensions of collective identity in the Andean Community, whose interplay led to advancing regionalism in certain ways but also caused disagreements and failures. Instead of taking a simplistic view of identity as the sharing of similarities, disentangling collective identity into cultural, ideological, and intergroup dimensions helps in understanding that identity is mostly a political issue and therefore a disputed one, and that analyzing the relationship between these three dimensions contributes to explaining the unfolding of regionalism in terms of advance and stagnation.

Revisiting Feldstein–Horioka Puzzle: Evidence from SAARC Economies

2020 ◽  
Vol 68 (2) ◽  
pp. 172-192
Author(s):  
P. K. Mishra ◽  
S. K. Mishra
Keyword(s):  
Financial Integration ◽  
Policy Implications ◽  
Domestic Saving ◽  
Domestic Investment ◽  
Growth Trend ◽  
Reform Era ◽  
Foreign Countries ◽  
Domestic Savings ◽  
International Capital Movements ◽  
Degree Of Association

In the macroeconomic perspective, domestic saving and investment constitute two important wheels that keep the growth process moving on towards stability. But when domestic savings tend to fly away to foreign countries for excess returns, the warranted domestic investment remains unattained thereby which impair the growth trend unless the gap is bridged by the foreign investment inflows. However, excess inflows of foreign investments may deteriorate current account balances, if not appropriately absorbed. In this pretext, this article revisited the Feldstein–Horioka puzzle with the twin-deficit hypothesis for SAARC countries. The results lend to support the validity of the twin-deficit hypothesis along with a low degree of association between domestic savings and investment in the region thereby justifying the argument that international capital movements or financial integration have increased in the post-reform era. This observation has significant policy implications for the sustained growth of the SAARC nations.

The Labor Share Squeeze in Latin America: A Dynamic Heterogeneous Approach

2017 ◽  
Vol 18 (2) ◽  
pp. 20170083
Author(s):  
Ryan Joy ◽  
Cesar M. Rodriguez ◽  
Inder J. Ruprah
Keyword(s):  
Latin America ◽  
Latin American ◽  
Financial Integration ◽  
Public Spending ◽  
Institutional Factors ◽  
Labor Share ◽  
Pooled Mean Group ◽  
Long Run ◽  
Latin American Countries

This paper analyzes the long-run relationship between labor share and its determinants for 20 Latin American countries from 1980 to 2014. Using the pooled mean group estimator, we find evidence that technological change, the globalization process, and financial integration, have contributed to the decline of labor share in Latin America. We also find evidence of the importance of institutional factors and public spending for the labor share. Finally, we discuss the role of the informal sector on the dynamics of the decline. Our key findings are robust to various specifications and methodologies.

From Trinidad and Tobago to the World: Determining the role of Calypso in a new Era

2020 ◽  
Vol 5 ◽  
pp. 7-11
Author(s):  
Malek Abdel-Shehid
Keyword(s):  
Trinidad And Tobago ◽  
Regional Integration ◽  
West African ◽  
Major Influence ◽  
New Era ◽  
Transatlantic Slave Trade ◽  
Cultural Sovereignty ◽  
Caribbean Culture ◽  
Musical Cultures

Calypso is a popular Caribbean musical genre that originated in the island nation of Trinidad and Tobago. The genre was developed primarily by enslaved West Africans brought to the region via the transatlantic slave trade during the seventeenth and eighteenth centuries. Although West-African Kaiso music was a major influence, the genre has also been shaped by other African genres, and by Indian, British, French, and Spanish musical cultures. Emerging in the early twentieth century, Calypso became a tool of resistance by Afro-Caribbean working-class Trinbagonians. Calypso flourished in Trinidad due to a combination of factors—namely, the migration of Afro-Caribbean people from across the region in search of upward social mobility. These people sought to expose the injustices perpetrated by a foreign European and a domestic elite against labourers in industries such as petroleum extraction. The genre is heavily anti-colonial, anti-imperial, and anti-elitist, and it advocated for regional integration. Although this did not occur immediately, Calypsonians sought to establish unity across the region regardless of race, nationality, and class through their songwriting and performing. Today, Calypso remains a unifying force and an important part of Caribbean culture. Considering Calypso's history and purpose, as well as its ever-changing creators and audiences, this essay will demonstrate that the goal of regional integration is not possible without cultural sovereignty.

Geo-Economic Competition in Latin America: Brazil, Venezuela, and Regional Integration in the 21st Century

2018 ◽  
Vol 33 ◽  
Author(s):  
Guilherme Casarões
Keyword(s):  
Latin American ◽  
Regional Integration ◽  
Free Trade Area ◽  
The United States ◽  
Economic Competition ◽  
Integration Model ◽  
Trade Area ◽  
Complex Processes ◽  
The Us ◽  
New Institutions

The institutional framework of Latin American integration saw a period of intense transformation in the 2000s, with the death of the ambitious project of the Free Trade Area of the Americas (FTAA), spearheaded by the United States, and the birth of two new institutions, the Union of South American Nations (UNASUR) and the Community of Latin American and Caribbean States (CELAC). This article offers a historical reconstruction of regional integration structures in the 2000s, with emphasis on the fault lines between Brazil, Venezuela and the US, and how they have shaped the institutional order across the hemisphere. We argue that the shaping of UNASUR and CELAC, launched respectively in 2007 and 2010, is the outcome of three complex processes: (1) Brazil’s struggle to strengthen Mercosur by acting more decisively as a regional paymaster; (2) Washington’s selective engagement with some key regional players, notably Colombia, and (3) Venezuela’s construction of an alternative integration model through the Bolivarian Alliance (ALBA) and oil diplomacy. If UNASUR corresponded to Brazil’s strategy to neutralize the growing role of Caracas in South America and to break apart the emerging alliance between Venezuela, Argentina, and Bolivia, CELAC was at the same time a means to keep the US away from regional decisions, and to weaken the Caracas-Havana axis that sustained ALBA.

The Role of Nonprofit Sector Networks as Mechanisms for Immigrant Political Participation

2012 ◽  
Vol 7 (1) ◽  
pp. 27-46 ◽  
Author(s):  
Luisa Veronis
Keyword(s):  
Political Participation ◽  
Nonprofit Organizations ◽  
Latin American ◽  
Social Action ◽  
Multiple Scales ◽  
Nonprofit Sector ◽  
Ethnographic Study ◽  
Immigrant Community ◽  
Immigrant Political Incorporation

Issues of immigrant political incorporation and transnational politics have drawn increased interest among migration scholars. This paper contributes to debates in this field by examining the role of networks, partnerships and collaborations of immigrant community organizations as mechanisms for immigrant political participation both locally and transnationally. These issues are addressed through an ethnographic study of the Hispanic Development Council, an umbrella advocacy organization representing settlement agencies serving Latin American immigrants in Toronto, Canada. Analysis of HDC’s three sets of networks (at the community, city and transnational levels) from a geographic and relational approach demonstrates the potentials and limits of nonprofit sector partnerships as mechanisms and concrete spaces for immigrant mobilization, empowerment, and social action in a context of neoliberal governance. It is argued that a combination of partnerships with a range of both state and non-state actors and at multiple scales can be significant in enabling nonprofit organizations to advance the interests of immigrant, minority and disadvantaged communities.

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