ERN: Latin America & the Caribbean (Development) (Topic)最新文献

{"title":"Forced Labor in Colonial Spanish America","authors":"Leticia Arroyo Abad, Noel Maurer","doi":"10.2139/ssrn.3909090","DOIUrl":"https://doi.org/10.2139/ssrn.3909090","url":null,"abstract":"The Spanish colonial empire initially faced a trilemma in the New World. First, they needed to incentivize quasi-private Spanish expeditions to subdue, settle, and secure new territories. Second, they needed labor to develop the new territories and provide a stream of rents for the imperial government. Third, they needed to ensure that the Spanish colonists did not grow powerful enough to challenge imperial authority. We show how the Spanish solved this trilemma in three ways, all involving forced labor: (1) transplanting Iberian institutions; (2) repurposing existing pre-Columbian institutions; (3) importing African slaves. We present evidence that over time forced labor in Spanish America underwent an endogenous process of decay as power slowly shifted from the Spanish-American colonial elite to indigenous labor. The end result was the increasing dominance of wage labor on the American mainland, leaving most forced labor arrangement either moribund or in decay by the time the empire collapsed. The commodity boom around the circum-Caribbean combined with geographic factors explains why this process was slower there (and short-circuited entirely in the case of Cuba).","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"109 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115844475","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Gaining Inclusive Growth through Financial Methodologies","authors":"Shourya Mitra Mustauphy","doi":"10.2139/ssrn.3874542","DOIUrl":"https://doi.org/10.2139/ssrn.3874542","url":null,"abstract":"John Jacques Rousseau once stated that money is the seed of cash, and the principal guinea is at times harder to gain than the subsequent million. This paper ponders on arguing whether inclusive growth in Emerging Economies is achieved on the basis of the inclusion of finance. The argument focuses on the various cash transfer tools implemented in economies like Kenya, Argentina, Mexico, Niger to promote savings and investment for a better future. These financial money-movement tools have been argued to be essential to prevent the populace of these economies from suffering from the financial crisis and being dependent on themselves. Furthermore, the argument penned in this paper is to encourage the bridging of financial inclusion with inclusive growth on the basis of money-movement financial tools such as M-Pesa, M-Shwari etc. The focal point of my argument has been that access to and mix into these systems upgrades their efficiency prompts shared thriving. It is currently acknowledged insight that a key element of inclusive development is the inclusion of finance. More prominent comprehensiveness of finance is an entryway for the increasingly adjusted turn of events and a progressively strong society. Inclusion of finance is the way of thinking of giving moderate, protected, available, maintainable, and appropriately managed money-related apparatuses conveyed in a mindful manner with the goal that individuals can fabricate their benefits while improving their jobs. It empowers individuals to have a safe spot to set aside cash, get moderate and fitting financial incentives and coverage to oversee their own lives and that of their families.","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114579105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Arbitraging Covered Interest Rate Parity Deviations and Bank Lending","authors":"L. Keller","doi":"10.2139/ssrn.3782607","DOIUrl":"https://doi.org/10.2139/ssrn.3782607","url":null,"abstract":"I propose and test a new channel through which bank lending is affected in an emerging markets setting. This channel is that when banks arbitrage covered interest rate parity (CIP) deviations, they need to borrow in a particular currency. In the presence of borrowing frictions, they shift part of the resources used to lend to households and firms to fund their arbitrage activities. I exploit differences the abilities of Peruvian banks to arbitrage CIP deviations to show that banks that have greater ability to arbitrage reduce their lending in the currency they need to fund their CIP arbitrage. This is compensated by lending in a different currency. Therefore, arbitraging CIP deviations lead to changes in the currency composition of lending.","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134253914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Deep Trade Agreements and Domestic Institutions in the Americas","authors":"Laura Gómez-Mera, Gonzalo Varela","doi":"10.2139/ssrn.3753176","DOIUrl":"https://doi.org/10.2139/ssrn.3753176","url":null,"abstract":"Preferential trade agreements (PTAs) have spread rapidly around the world since the 1990s. In the Americas, the proliferation of trade agreements with countries from within and beyond the region have resulted in a ‘spaghetti bowl’ of overlapping rules and regulations, some of which address behind-the-border issues such as investment, competition, labor and environmental standards. Has the increasing number of overlapping agreements helped attract foreign direct investment (FDI) into the region, thus facilitating integration in the global economy? Earlier research has linked trade agreements to increased foreign investment inflows. We argue, instead, that the effects of PTAs on FDI depend on the domestic institutional capacities of member countries. Domestic institutions condition the benefits and effectiveness of PTAs by influencing governments’ external credibility as well as their ability to implement the agreements they sign. Our empirical findings show that weak state capacity exacerbates the ‘spaghetti bowl’ effects of multiple, overlapping agreements. Moreover, it is not the quantity but the quality, and more specifically, the depth of trade agreements that matters for attracting FDI.","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"311 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125773401","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Profitability-Growth Nexus in the Mexican Manufacturing Industry","authors":"Vicente German-Soto, Óscar Sánchez-Hiza","doi":"10.2139/ssrn.3722002","DOIUrl":"https://doi.org/10.2139/ssrn.3722002","url":null,"abstract":"The profitability-growth relationship is examined at the sectoral level of the Mexican manufacturing industry. For the theories that explain this connection, business growth drives profitability (classical), profitability explains business growth (evolutionary), or a negative link is a rule (managerialism view). The methodology is a vector error correction model (VECM) besides quadratic and piecewise regression equations. The findings highlight that higher profitable industries also exhibit higher growth. Conversely, business growth does not improve profitability, confirming the predictions of evolutionary theories. Also, the results of this study consider firm size crucial for developing countries, due to the different role that firm size plays in determining productivity growth. Although the research is not specifically focused on the firm level, the study still sheds light on the efficiency and profitability conditions that prevail in the Mexican entrepreneur. For example, the conclusions suggest a stronger profitability-growth link in sectors formed by smaller firms. Suggesting the right conditions for investment, competition, economic growth, and quality improvement.","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125449708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Who Benefits from Job Training Programs? Evidence from a High-Dosage Program in Brazil","authors":"Daniel Da Mata, R. Oliveira, Diana Silva","doi":"10.2139/ssrn.3682906","DOIUrl":"https://doi.org/10.2139/ssrn.3682906","url":null,"abstract":"Using admission lotteries and registry data linking labor market outcomes, we study the effect of a vocational training program focused on disadvantaged individuals in Brazil. The intensive program is an 18-month classroom training coupled with a 6-month on-the-job training provided by government-sponsored training centers. When assessing the impacts on 15,000 winners and 200,000 nonwinners who graduated in different business cycle moments, we show that female students fare better than their male counterparts. Results are driven by courses in services and those located in faster-growing local labor markets. Investigating outcomes beyond employment and earnings, we do not find an impact on entrepreneurship or university admission.","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"32 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125706023","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impacto de la pandemia covid-19 sobre la economía colombiana. Una pandemia temporal con efectos permanentes (Impact of the COVID-19 Pandemic on the Colombian Economy. A Temporary Pandemic with Permanent Effects)","authors":"Ivan Leonardo Urrea-Ríos, J. Piraján","doi":"10.2139/ssrn.3678321","DOIUrl":"https://doi.org/10.2139/ssrn.3678321","url":null,"abstract":"<b>Spanish Abstract:</b> Este documento de la Unidad Macroeconómica de Análisis aborda los impactos de corto plazo sobre la actividad económica colombiana de las medidas de confinamiento implementadas desde marzo de 2020 para evitar una propagación masiva de la pandemia COVID-19. Realiza un análisis de la producción en particular con desagregaciones sectoriales y por demanda, analizando cómo cada sector se vio afectado en una forma particular de acuerdo con su naturaleza. La presión económica descrita ha generado que las cuarentenas totales se agoten como instrumento de política pública viable en términos económicos, sociales y políticos.<br><br><b>English Abstract:</b> This document from the Macroeconomic Analysis Unit addresses the short-term impacts on Colombian economic activity of the lockdown measures implemented since March 2020 to prevent a massive spread of the COVID-19 pandemic. It performs an analysis of production with descriptions by sector and by demand, analyzing how each sector was affected according to its nature. The economic pressure described has caused the total quarantines to be exhausted as a viable public policy instrument in economic, social, and political terms.","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129090527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Social Frustration and Budgetary Restrictions: Rethinking the Public Agenda in Post-Pandemic","authors":"Sergio Clavijo","doi":"10.2139/ssrn.3667170","DOIUrl":"https://doi.org/10.2139/ssrn.3667170","url":null,"abstract":"Using political economy analysis, this document aims at a better understanding of the recent juncture of global social protests expressing against the establishment and the international trade agreements. Brexit and America-First form part of apparent solutions exploiting political nationalism during 2017-2020. We use signal-to-noise ratio principles to characterize the pro-market status-quo of the United States and the high State interventionism in Europe and then we assess the evolution of the “Welfare State” in those regions. A key element in this characterization is the consolidation of the “middle-class” and its motivational roots, contrasting those driven by “economic progress” Vs. “citizenship values”. The latter tends to better solidify the stance of the middle class, while the former tends to be short-lived, as apparently has occurred in Latin America. <br><br>We offer a narrative interpretation about the “social elevator” in Latin America, operating from poor to middle class, over 1995-2020, and provide a snap-shot of recent events, including Chile, Mexico, Brazil, Peru, and Colombia. After significant social progress in lowering the portion of population under-poverty rates from 50% down to 30% during 1995-2014, the period after the super-cycle of energy-mining commodities (2015-2020) has shown stagnation in social progress due to low real-GDP growth, escalating unemployment, and fiscal restraints in Latin America. Given the negative effects of the covid-19 pandemic, the expected recovery of 2020-2021 will be even more complex to achieve. Very likely, world weighted GDP-growth will contract -4% in 2020 (Vs. an expected 3% before pandemic), but world´s growth could rebound to +5% in 2021 under a “V”-shape recovery. However, LATAM will be stalled in a 2% growth recovery in 2021 after a contraction close to -6% in 2020.<br><br>Finally, we provide a minimum agenda of structural reforms dealing with quality of public schools, better deployment of infrastructure to deepen the gains from international trade, and additional budgetary allocations pro-poor to improve income distribution indicators. This public agenda needs to be complemented by private sector initiatives to properly allocate the scant fiscal resources.<br>","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"221 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134008644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effects of Innovative Effort on Different Components of Productivity: Evidence for the Colombian Manufacturing Industry","authors":"Fernando Barrios Aguirre","doi":"10.2139/ssrn.3657069","DOIUrl":"https://doi.org/10.2139/ssrn.3657069","url":null,"abstract":"This document focuses on estimating the effect of innovative effort on productivity, when it is disaggregated in terms of productive technical efficiency and other components associated with demand and unit input costs . These components are developed and estimated from panel data. I show that demand characteristics are the elements where the innovative effort affects in greater proportion. Thus, if the objective is to increase physical productivity, a strategy would be to increase by 1% amounts invested in internal R& D, technology transfer and technical assistance and consulting. Thus, TFPQ would increase between 0.04% and 0.07%. The increase of amounts in marketing of innovations, internal R & D and the one of technical assistance and consulting would increase the characteristics of demand between 0.40% and 0.43%; finally, increasing the acquisition of machinery and equipment by 1% for the promotion of innovation would generate a reduction in input costs between 0.07% and 0.05%. These results will be analyzed from the annual manufacturing survey (EAM) between 2003-2012 and the surveys of innovation and technological development for the manufacturing industry (EDIT) provided by the DANE between 2008-2012.","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121936746","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Efectos y expectativas de recuperación económica frente a la pandemia COVID-19 en el departamento de Boyacá (COVID-19 Effects and Expectations of Economic Recovery in Boyacá, Colombia)","authors":"C. Ochoa, Luis Suárez, H. Suarez, E. Ramírez, Andrés Valderrama, M. Castillo-Reina, Hermes Castro, O. Matallana","doi":"10.2139/ssrn.3664379","DOIUrl":"https://doi.org/10.2139/ssrn.3664379","url":null,"abstract":"Spanish Abstract: Los efectos del COVID-19 han alcanzado limites insospechados en la salud publica y la economia. La destruccion de empleos y cierres comerciales ha generado una perdida de capacidades adquiridas en las empresas (como organizaciones) y sus empleados. Este documento presenta el resultado de una encuesta aplicada durante Mayo y Junio de 2020 a mas de 1.000 empresas en todo el departamento de Boyaca (Colombia) en aspectos relacionados con sus ingresos, su estructura de costos y sus expectativas de recuperacion, una descripcion de las politicas economicas asumidas en America Latina frente a la crisis asi como un aparte adicional de politicas locales. Los resultados obtenidos muestran la fragilidad y efecto diferencial de las empresas ante el doble choque, de oferta y demanda, generado por la pandemia. En nuestra muestra, un tercio del 45 por ciento de las empresas que registro una disminucion en sus ventas, ha tenido caidas de mas del 70 por ciento. La disponibilidad de efectivo ha restringido el pago oportuno de arrendamientos, servicios publicos y creditos bancarios. Los encuestados sugirieron que los gobiernos locales deberian disenar paquetes de subsidios, reduccion de impuestos e informacion oportuna para la implementacion de protocolos de bioseguridad. A pesar de la formalidad empresarial, la informalidad laboral limita el acceso por parte de los empresarios a programas de subsidio a la nomina. La informacion y condiciones para el acceso a este y otros programas termina siendo deficiente. \u0000 \u0000English Abstract: The effects of COVID-19 have reached unsuspected limits on public health and the economy. Job destruction and business closures have led to a loss of acquired skills in companies (as organizations) and their employees. This document presents the results of a survey applied during May and June 2020 to more than 1,000 companies throughout the department of Boyaca (Colombia) in aspects related to their income, their cost structure and their recovery expectations, a description of the economic policies assumed in Latin America related to the crisis as well as an additional section of local policies. The results obtained show the fragility and differential effect of companies in the face of the double shock, of supply and demand, generated by COVID-19. In our sample, a third of the 45 percent of the companies that registered a decrease in their sales have had falls of more than 70 percent. The availability of cash has restricted the payment of rent, utilities and bank loans. Respondents suggested that local governments should design packages of subsidies, tax reductions and timely information for the implementation of biosecurity protocols. Despite business formality, labor informality limits employers' access to payroll subsidy programs. Information and conditions for access to this and other programs end up being deficient.","PeriodicalId":324969,"journal":{"name":"ERN: Latin America & the Caribbean (Development) (Topic)","volume":"126 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132815922","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}