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Latin America Channel: Latest Posts
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Latin America
North American Competitiveness
Last week I attended a conference “Made in North America: Competitiveness, Supply Chain, and Transportation in the NAFTA Region,” which was part of World Trade Week’s events here in New York. From the interesting panels there emerged three main points, one positive and two less so. The positive outlook is that macroeconomic and global winds [...]
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Latin America
Latin America’s Economic Outlook
Source: The 2012 IMF Economic Outlook Report for the Western Hemisphere The recent IMF economic outlook report entitled, “The Western Hemisphere: Rebuilding Strength and Flexibility,” is overall quite bullish on the region. Fueled by favorable commodity prices and plentiful international credit, it lauds (as much as the IMF does) the steady growth of the past [...]
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Latin America
Changes in Mexican Migration
A recent Pew Hispanic Center report highlights the rather steep declines in the number of Mexicans coming to the United States, as well as the rising numbers leaving for Mexico. Taken together, they show that net migration from 2005 to 2010 reached zero—with inflows and outflows of some 1.4 million individuals (a rough average of 280,000 [...]
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Ed Dolan's Econ Blog
How the Latin Triangle Swallowed the Euro
Back in 1996, Rudiger Dornbusch wrote a paper about the political economy of exchange rates in Latin America. He called it “The Latin Triangle”. It describes a cycle in which governments become trapped in inappropriate fixed-exchange rates that inevitably end unhappily. Latin America has put that particular form of economic instability behind it, but a [...]
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Latin America
Latam Nationalizations: A Dog Bites Man Story?
That a couple of Latin American countries have recently announced the expropriation of foreign investors in the energy sector seems hardly like new news. After all, cycles of nationalization and privatization have unfolded for more than half a century. Moreover, the expropriation simply marked the latest illiberal measures by Argentina and Bolivia, the two protagonists [...]
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Emerging Markets
The Strong Real
Without structural reforms to increase productivity and a serious fiscal adjustment, foreign exchange measures will be tantamount merely to “anaesthesia without surgery”. Complaints about the BRL’s appreciation have recently been gaining strength. They have mobilized the whole government, even the President of the Republic. Should the strong BRL be combatted at any price? Even if [...]
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Latin America
Panama: ‘If You Build It, They Will Come’
These were the famous words whispered by the ghost of Shoeless Joe Jackson in The Field of Dreams. Ray Kinsella, played by Kevin Costner, literally bets the family farm to build a baseball diamond in the middle of a corn field in rural Iowa, bringing his family to the brink of ruin. Fortunately, in true Hollywood [...]
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Emerging Markets
Too Bearish on Brazil: Ruchir Sharma in Foreign Affairs
The recent Foreign Affairs article “Bearish on Brazil” lays out a quite pessimistic view of Brazil. For the author, Ruchir Sharma, the Brazil fuss has risen and will largely fall with commodities. Brazil’s policies of high interest but low investment rates, as well as high taxes and a large welfare state, mean that its “commodity-driven [...]
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Latin America
Argentina: The Rise of NeoCorporatism
Like piggies at the trough, Argentine businessmen are falling in love with the nationalization of YPF. At first, the private sector recoiled at the idea. It symbolized the growing isolationism of the nation, the abrogation of private property rights and the heavy-handed nature of the Fernandez de Kirchner Administration. However, the move is taking a [...]
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Emerging Markets
State or Market Led? Brazil’s Struggle to Improve Infrastructure and IT
Yesterday I attended the annual Brazil Summit in New York, organized by the Brazilian-American Chamber of Commerce. What struck me in the presentations (reinforcing what I heard during my last two visits to Brazil), was the quite disparate views of Brazil today and the levers for growth tomorrow. The first panel focused on information technology [...]
