scholarly journals Let it float: new empirical evidence on de facto exchange rate regimes and growth in Latin America

2021 ◽  
Vol 32 (65) ◽  
pp. 3-18
Author(s):  
Cecilia Bermúdez ◽  
Carlos Dabús

This paper reassesses the evidence presented in Levy-Yeyati and Sturzenegger (LYS) (2003) on the relation between exchange rate regimes and economic growth. We use their de facto classification as well as their database, in order to gain robustness and efficiency in the results. We run System GMM estimations. Additionally, we focus on Latin American countries for the period 1974-2004. Differently to LYS, our evidence indicates that exchange rate regimes are not significant to explain economic growth, both in a worldwide sample of countries and particularly in Latin America. However, in this region flexible regimes appear to have more advantages in terms of the role of the determinants of economic growth in relation to the other exchange regimes.

2017 ◽  
Vol 2 (2) ◽  
pp. 239-246
Author(s):  
Roberto Frenkel

The exchange rate regime is a crucial variable in international economic relations. This presentation attempts to evaluate the performance of floating exchange rate regimes in the major Latin American countries.


1993 ◽  
Vol 7 (1) ◽  
pp. 15-17
Author(s):  
Alice B. Lentz

Alice Lentz offers a brief view of the role of the Americas Fund for Independent Universities (AFIU) in relation to significant initiatives in various Latin American countries. In a region where the function and development of private higher education institutions is especially important, the focus of the AFIU's activities is on private universities' ability to provide trained business leaders with the skills necessary to meet the challenges of enterprise growth in these developing economies. She mentions in particular the strengthening of financing capabilities within the university, and the evolution of three-way partnerships among business corporations, AFIU, and universities in Latin America.


2008 ◽  
Vol 55 (3) ◽  
pp. 279-308
Author(s):  
Jean-Pierre Allegret ◽  
Alain Sand-Zantman

This paper assesses the monetary consequences of the Latin-American integration process. Over the period 1991-2007, we analyze a sample of five Latin-American countries focusing on the feasibility of a monetary union between L.A. economies. To this end, we study the issue of business cycle synchronization with the occurrence of common shocks. First, we assess the international disturbances influence on the domestic business cycles. Second, we analyze the impact of the adoption of different exchange rate regimes on the countries' responses to shocks. .


Author(s):  
Angel Belzunegui Eraso ◽  
David Dueñas Cid

In this chapter we focus on the growth of “new religions” and new religious movements in Latin America and attempt to find explanations for this growth. Although other explanations for the increase in religious plurality exist, we focus on the role of women in this development. The expansion of movements such as Pentecostalism is challenging the centrality of Catholicism in many Latin American countries. Basically, we therefore aim to answer the following question: Why has Pentecostalism grown so much in some Latin American countries while Catholicism has experienced a certain decline? One possible explanation for this is the role of women in this expansion, which has fostered greater social cohesion within families and communities. Pentecostalism has led to a certain empowerment of the women living in precarious conditions, affording them greater visibility and importance within their communities and giving them a role in the re-education of behaviours that are rooted in male domination.


2002 ◽  
Vol 22 (4) ◽  
pp. 613-634 ◽  
Author(s):  
MARCELA MIOZZO

ABSTRACT East Asian countries have been successful at specialising in machinery and capital goods. Latin American countries, on the other hand, have retreated from these sectors, reinforcing their specialisation in resource-intensive goods. Institutional arrangements in place in both regions explain these divergences. In particular, the differences in the strategy and structure of leading firms, the nature of industrial promotion by the government, the development and support of small and medium-sized firms and the operation of foreign-owned firms may explain the respective success and failure in sectoral specialisation in machinery. Failure to develop these sectors may hinder the process of economic development.


1978 ◽  
Vol 6 (2) ◽  
pp. 135-149 ◽  
Author(s):  
Rogelio Pérez Perdomo

SummaryRogelio Pérez Perdomo is a Professor of Law at the Central University of Venezuela and an active member of the Latin American Council of Law and Development. A longstanding student of the purposes and methods of legal education, he has also made a special point to acquire knowledge about legal education in Europe and the United States.In this article Professor Pérez Perdomo discusses the inadequacies and shortcomings of the existing legal education programs in Latin America. He recognizes the growing awareness of such inadequacies on the part of many Latin American law teachers, and their dissatisfaction with the traditional systems and methods of law teaching. This dissatisfaction has generated many studies and discussions in the different Latin American countries, and it has also produced some changes and improvements. Professor Pérez Perdomo believes, however, that such changes fall significantly short of modern needs of adequate legal education. Concentrating on the situation in Venezuela, he compares it with current legal education innovations and developments in other Latin American countries, as well as in the major European countries and the United States.Professor Pérez Perdomo clearly admits his preference for further reforms of the legal education methods and programs in Venezuela (and, presumably, in other countries of Latin America). He views, however, student unrests as an invalid reason for such reforms because improvements must emerge from substantive needs rather than the temporary considerations of political expediency. Reforms must proceed from an appreciation of the true role of law and the legal profession.In a brief survey of the traditional and modern role of the law, especially its use as a vehicle for social and economic development, Professor Pérez Perdomo demonstrates the significance of their impact on legal education. Equally important, in his opinion, is the influence of foreign financial aid, e.g., the Ford Foundation, the International Legal Center, etc., which must have had a considerable impact on the emergence of new legal education trends. The effect of such influences has not yet been evaluated, but it is an important topic in any study of the effectiveness and desirability of international transfers of educational methods from one country to another. Thus, the United States legal education model encountered many difficulties in Latin America when the attempt was made to apply it there, and it can be used there only in a limited sense and in a significantly modified form.Professor Pérez Perdomo notes the following trends of legal education reform in Latin America: 1)The reorganization and “semestization” of law courses.2)The use of new teaching methods–tutorials, class discussions, working groups, and legal clinics–by various law schools in their efforts to enrich the content of their educational programs.3)The identification of the purposes and responsibilities of legal education in coordination with the general aims of law and the legal system.Professor Pérez Perdomo recognizes that many of these aspirations for reform are seriously affected by such factual limitations as, for example, the unfavorable numerical ratio of students to law faculty, inadequate teaching abilities of the professors, poverty and the small size of libraries, and the encumbersome administrative organization and fiscal procedure of universities. Despite these difficulties, Professor Pérez Perdomo is confident that the reform efforts will prevail and that many salutory improvements will eventually become evident in Latin American legal education.


1973 ◽  
Vol 27 (2) ◽  
pp. 181-223 ◽  
Author(s):  
William P. Avery ◽  
James D. Cochrane

The Andean Common Market, the most recent attempt at regional integration in Latin America, differs from the other Latin American efforts both in the factors that prompted its formation and in the support it had when it was established. More importantly, it differs in its terms and provisions, providing for a higher level of integration than any other Latin American effort. Several of its features—a common policy on foreign investment, regional planning and coordination in such fields as industry and agriculture, a quasi–supranational secretariat — make it an innovative approach to integration in Latin America. Numerous factors enhance the integrative potential of Andean integration. Among these are relatively favorable ratings on several of the neo–functional variables of regional integration. These indicators suggest that the effort may attain its objectives and perhaps even set an example to be followed by other economic groupings among Latin American countries. Still, projections about the future of the Andean Common Market must remain mixed. Some negative factors exist within the movement that could, if they triumph over the positive factors, lead to the same stagnation that now characterizes LAFTA and the CACM.


Author(s):  
Angel Belzunegui Eraso ◽  
David Dueñas Cid

In this chapter we focus on the growth of “new religions” and new religious movements in Latin America and attempt to find explanations for this growth. Although other explanations for the increase in religious plurality exist, we focus on the role of women in this development. The expansion of movements such as Pentecostalism is challenging the centrality of Catholicism in many Latin American countries. Basically, we therefore aim to answer the following question: Why has Pentecostalism grown so much in some Latin American countries while Catholicism has experienced a certain decline? One possible explanation for this is the role of women in this expansion, which has fostered greater social cohesion within families and communities. Pentecostalism has led to a certain empowerment of the women living in precarious conditions, affording them greater visibility and importance within their communities and giving them a role in the re-education of behaviours that are rooted in male domination.


2021 ◽  
Vol 32 (1) ◽  
pp. 149-168
Author(s):  
Pablo Buchbinder ◽  

The aim of the article is to study the repercussions of the beginning of the Spanish Second Republic and the rebellion of July 18 in various Latin American countries. The cases of Mexico, Argentina, Chile and Uruguay are studied in particular. These repercussions are analyzed in the framework of the rise of dictatorial and authoritarian governments in most of these countries with the exception of Mexico since the early 1930s. The way in which governments, the Spanish immigrant com-munities and the different social groups in these countries acted in the face of both episodes are studied. The repercussions generated by the anticlerical policy of the first government of the second republic are an-alyzed, especially in the face of the dissolution of the company of Jesus and the introduction of secular education. The tensions that these poli-cies provoked in Argentina and Chile and the support that the second republic obtained in Mexico are analyzed. On the other hand, the way in which the news of the uprising of July 18, 1936 was received is studied. The support for the army by the governments of Uruguay and Chile and, again, the support that the Spanish legal government obtained in Mexico is analyzed.


Author(s):  
O. Tkach ◽  
V. Tsvykh ◽  
M. Khylko ◽  
O. Batrymenko ◽  
D. Nelipa

Formulation of the problem. The authors analyze the current state and prospects for the development of the oil and gas complex and their role in the foreign policy of the Latin American states, policies of the use of oil and gas resources as a tool for enhancing influence in the region, as well as the functioning of multilateral oil supply agreements. The possibilities of realization of joint energy projects in Latin America are analyzed. The presence of oil and gas in the region has always been used as a political tool. The United States' reliance on Middle Eastern oil and the carbon emissions produced by the surging demand for fossil fuels in Asia tend to dominate discussions about the role of energy in U.S. foreign policy. But in recent years, the energy relationship between the United States and Latin America has perhaps become more important than other issues, as the largest share of the United States international trade and investment in the energy sector has occurred within the Western Hemisphere. Purpose of the researchis to study the role of the oil and gas complex in the foreign policy of Latin American countries. The oil and gas complex plays an important role in the foreign policy of Latin American countries. The Latin American energy market is quite attractive to transnational energy companies due to the huge volumes of cheap energy resources, the consumer market with growing energy demand. The energy markets of the Americas are deeply integrated. Despite the shale boom, which led to a sharp increase in U.S. oil production and a drop in imports, the United States still relies on Latin America for more than 30 percent of the oil it buys from abroad. The gas and gas complex part of the geological section is characterized by a similar lithological composition and the underlying rocks, containing oil and gas in industrial volumes. Research methods: The following research methods were used to address the issues set in the article: general scientific methods – descriptive, hermeneutic-political, systemic, structural-functional, comparative, institutional-comparative; general logical methods – empirical, statistical, prognostic modeling and analysis; special methods of political science. The preference was given to the method of political-system analysis, by which the common and distinctive characteristics of the basic components of immigration policy strategies were identified, reflecting existing political, public, information and other challenges for international relations and global development. The article of analysis. Latin America, a growing importer of U.S. natural gas and the largest market for U.S., makes refined petroleum products, such as gasoline. American oil companies and utilities are big investors in Argentina, Brazil, Mexico, and Venezuela, helping to develop the energy resources of all those countries. In Brazil, the United States direct investment in oil and gas extraction reached $2,4 billion in 2015; in Mexico, the figure was $420 million. Washington's financing and technical cooperation programs have further helped the development of new energy resources in the region. U.S. institutions and funds back up clean energy investments and provide regulatory and technical guidance to tap the region's shale fields.


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