Challenges to Fiscal Adjustment in Latin America The Cases of Argentina, Brazil, Chile and Mexico

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Author :
Publisher : OECD Publishing
ISBN 13 : 9264022082
Total Pages : 167 pages
Book Rating : 4.2/5 (64 download)

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Book Synopsis Challenges to Fiscal Adjustment in Latin America The Cases of Argentina, Brazil, Chile and Mexico by : OECD

Download or read book Challenges to Fiscal Adjustment in Latin America The Cases of Argentina, Brazil, Chile and Mexico written by OECD and published by OECD Publishing. This book was released on 2006-02-06 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume discusses progress made to date in Argentina, Brazil, Chile and Mexico in putting their finances in order, and points out the challenges ahead.

A Monetary and Fiscal History of Latin America, 1960–2017

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Author :
Publisher : U of Minnesota Press
ISBN 13 : 1452965846
Total Pages : 643 pages
Book Rating : 4.4/5 (529 download)

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Book Synopsis A Monetary and Fiscal History of Latin America, 1960–2017 by : Timothy J. Kehoe

Download or read book A Monetary and Fiscal History of Latin America, 1960–2017 written by Timothy J. Kehoe and published by U of Minnesota Press. This book was released on 2022-01-11 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major, new, and comprehensive look at six decades of macroeconomic policies across the region What went wrong with the economic development of Latin America over the past half-century? Along with periods of poor economic performance, the region’s countries have been plagued by a wide variety of economic crises. This major new work brings together dozens of leading economists to explore the economic performance of the ten largest countries in South America and of Mexico. Together they advance the fundamental hypothesis that, despite different manifestations, these crises all have been the result of poorly designed or poorly implemented fiscal and monetary policies. Each country is treated in its own section of the book, with a lead chapter presenting a comprehensive database of the country’s fiscal, monetary, and economic data from 1960 to 2017. The chapters are drawn from one-day academic conferences—hosted in all but one case, in the focus country—with participants including noted economists and former leading policy makers. Cowritten with Nobel Prize winner Thomas J. Sargent, the editors’ introduction provides a conceptual framework for analyzing fiscal and monetary policy in countries around the world, particularly those less developed. A final chapter draws conclusions and suggests directions for further research. A vital resource for advanced undergraduate and graduate students of economics and for economic researchers and policy makers, A Monetary and Fiscal History of Latin America, 1960–2017 goes further than any book in stressing both the singularities and the similarities of the economic histories of Latin America’s largest countries. Contributors: Mark Aguiar, Princeton U; Fernando Alvarez, U of Chicago; Manuel Amador, U of Minnesota; Joao Ayres, Inter-American Development Bank; Saki Bigio, UCLA; Luigi Bocola, Stanford U; Francisco J. Buera, Washington U, St. Louis; Guillermo Calvo, Columbia U; Rodrigo Caputo, U of Santiago; Roberto Chang, Rutgers U; Carlos Javier Charotti, Central Bank of Paraguay; Simón Cueva, TNK Economics; Julián P. Díaz, Loyola U Chicago; Sebastian Edwards, UCLA; Carlos Esquivel, Rutgers U; Eduardo Fernández Arias, Peking U; Carlos Fernández Valdovinos (former Central Bank of Paraguay); Arturo José Galindo, Banco de la República, Colombia; Márcio Garcia, PUC-Rio; Felipe González Soley, U of Southampton; Diogo Guillen, PUC-Rio; Lars Peter Hansen, U of Chicago; Patrick Kehoe, Stanford U; Carlos Gustavo Machicado Salas, Bolivian Catholic U; Joaquín Marandino, U Torcuato Di Tella; Alberto Martin, U Pompeu Fabra; Cesar Martinelli, George Mason U; Felipe Meza, Instituto Tecnológico Autónomo de México; Pablo Andrés Neumeyer, U Torcuato Di Tella; Gabriel Oddone, U de la República; Daniel Osorio, Banco de la República; José Peres Cajías, U of Barcelona; David Perez-Reyna, U de los Andes; Fabrizio Perri, Minneapolis Fed; Andrew Powell, Inter-American Development Bank; Diego Restuccia, U of Toronto; Diego Saravia, U de los Andes; Thomas J. Sargent, New York U; José A. Scheinkman, Columbia U; Teresa Ter-Minassian (formerly IMF); Marco Vega, Pontificia U Católica del Perú; Carlos Végh, Johns Hopkins U; François R. Velde, Chicago Fed; Alejandro Werner, IMF.

Crisis and Reform in Latin America

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Author :
Publisher : World Bank Publications
ISBN 13 : 9780195211054
Total Pages : 380 pages
Book Rating : 4.2/5 (11 download)

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Book Synopsis Crisis and Reform in Latin America by : Sebastian Edwards

Download or read book Crisis and Reform in Latin America written by Sebastian Edwards and published by World Bank Publications. This book was released on 1995 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work provides a thorough analytical review of the processes that led to the transformation of many Latin American economies during the last decade. The author examines every aspect of adjustment and reform since 1980 and suggests alternative ways to consolidate the achievements.

Challenges to Fiscal Adjustment in Latin America

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Author :
Publisher : OECD
ISBN 13 :
Total Pages : 172 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Challenges to Fiscal Adjustment in Latin America by : Organisation for Economic Co-operation and Development

Download or read book Challenges to Fiscal Adjustment in Latin America written by Organisation for Economic Co-operation and Development and published by OECD. This book was released on 2006-02-23 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite considerable progress made by Latin America’s biggest economies in putting their finances in order, numerous challenges remain. Public spending needs to incorporate more flexibility, ageing populations and social demands threaten future pressures on expenditure, and social and infrastructure spending need to be more cost-effective. At the same time, tax bases need to broaden to reduce reliance on distortionary taxes on financial transactions and enterprise turnover, and overall tax administration must be improved. Finally and foremost, the fiscal authorities need to keep public debt at sustainable levels, paving the way for faster, more resilient growth. This volume discusses progress made to date in Argentina, Brazil, Chile and Mexico, and points out the road ahead. It provides an overview of trends and highlights the diversity of fiscal adjustment processes in Latin American countries. It also describes the financial market perspective and role of sovereign debt ratings. The chapter on Argentina debunks the view that fiscal management in the 1990s was irresponsible, arguing instead that the financial crisis was caused by a confluence of costly pension reforms, Brady debt restructuring and the recognition of fiscal “skeletons” in the closet. The chapter on Brazil makes a case for a more entrenched culture of fiscal austerity to make the current achievements sustainable. The Chile chapter describes the role of political cohesiveness following the return of democracy in driving the economy to fiscal rectitude. Finally, the chapter on Mexico discusses different scenarios for debt dynamics and the country’s efforts to contain expenditure pressures.

A Mandate to Grow

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Author :
Publisher : Inter-American Development Bank
ISBN 13 :
Total Pages : 121 pages
Book Rating : 4./5 ( download)

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Book Synopsis A Mandate to Grow by : Eduardo A. Cavallo

Download or read book A Mandate to Grow written by Eduardo A. Cavallo and published by Inter-American Development Bank. This book was released on 2018-03-15 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2018 Macroeconomic Report, A Mandate to Grow, revisits the growth debate that has been raging in the region for the past half century. Viewing the debate from this long-term perspective allows for a focus on the structural factors that have prevented Latin America and the Caribbean from reaching the growth potential required to keep pace with faster growing regions and to fulfill the aspirations of its population.

Better Spending for Better Lives

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Author :
Publisher :
ISBN 13 : 9781597823302
Total Pages : pages
Book Rating : 4.8/5 (233 download)

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Book Synopsis Better Spending for Better Lives by : Alejandro Izquierdo

Download or read book Better Spending for Better Lives written by Alejandro Izquierdo and published by . This book was released on 2018-08-31 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Saving for Development

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Author :
Publisher : Springer
ISBN 13 : 1349949299
Total Pages : 352 pages
Book Rating : 4.3/5 (499 download)

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Book Synopsis Saving for Development by : Inter-American Development Bank

Download or read book Saving for Development written by Inter-American Development Bank and published by Springer. This book was released on 2016-07-08 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why should people - and economies - save? This book on the savings problem in Latin America and the Caribbean suggests that, while saving to survive the bad times is important, saving to thrive in the good times is what really counts. People must save to invest in health and education, live productive and fulfilling lives, and make the most of their retirement years. Firms must save to grow their enterprises, employ more workers in better jobs, and produce quality goods. Governments must save to build the infrastructure required by a productive economy, provide quality services to their citizens, and assure their senior citizens a dignified, worry-free retirement. In short, countries must save not for the proverbial rainy day, but for a sunny day - a time when everyone can bask in the benefits of growth, prosperity, and well-being. This book is open access under a CC BY-NC-ND 3.0 IGO license.

Fiscal Federalism in Theory and Practice

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Author :
Publisher : International Monetary Fund
ISBN 13 : 9781557756633
Total Pages : 1146 pages
Book Rating : 4.7/5 (566 download)

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Book Synopsis Fiscal Federalism in Theory and Practice by : Mrs.Teresa Ter-Minassian

Download or read book Fiscal Federalism in Theory and Practice written by Mrs.Teresa Ter-Minassian and published by International Monetary Fund. This book was released on 1997-09-10 with total page 1146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few decades, a clear trend has emerged worldwide toward the devolution of spending and, to a lesser extent, revenue-raising responsibilities to state and local levels of government. One view is that the decentralization of spending responsibilities can entail substantial gains in terms of distributed equity and macroeconomic management. The papers in this volume, edited by Teresa Ter-Minassian, examine the validity of these views in light of theoretical considerations, as well as the experience of a number of countries.

Promoting Fiscal Discipline

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Author :
Publisher : International Monetary Fund
ISBN 13 : 158906609X
Total Pages : 144 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Promoting Fiscal Discipline by : Mr.Manmohan S. Kumar

Download or read book Promoting Fiscal Discipline written by Mr.Manmohan S. Kumar and published by International Monetary Fund. This book was released on 2007-10-18 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization. Lack of fiscal discipline generally stems from the injudicious use of policy discretion. The benefits of discretion are seen in terms of the ability of policymakers to respond to unexpected shocks and in allowing elected political representatives to fulfill their mandates. But discretion can be misused, resulting in persistent deficits and procyclical policies, rising debt levels, and, over time, a loss in policy credibility. The authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times. They then examine how a variety of institutional approaches—fiscal rules, fiscal responsibility laws, and fiscal agencies—can help improve fiscal discipline. While each of these approaches can play a useful role, the authors suggest that a strategy combining them is likely to be particularly beneficial. Although such a strategy requires political commitment and effective fiscal management, at the same time, the strategy itself can bolster political commitment by highlighting the restraints on government and raising the costs of failing to respect them.

Commodity Cycles, Inequality, and Poverty in Latin America

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484326091
Total Pages : 123 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Commodity Cycles, Inequality, and Poverty in Latin America by : Mr. Ravi Balakrishnan

Download or read book Commodity Cycles, Inequality, and Poverty in Latin America written by Mr. Ravi Balakrishnan and published by International Monetary Fund. This book was released on 2021-04-26 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decades, inequality has risen not just in advanced economies but also in many emerging market and developing economies, becoming one of the key global policy challenges. And throughout the 20th century, Latin America was associated with some of the world’s highest levels of inequality. Yet something interesting happened in the first decade and a half of the 21st century. Latin America was the only region in the World to have experienced significant declines in inequality in that period. Poverty also fell in Latin America, although this was replicated in other regions, and Latin America started from a relatively low base. Starting around 2014, however, and even before the COVID-19 pandemic hit, poverty and inequality gains had already slowed in Latin America and, in some cases, gone into reverse. And the COVID-19 shock, which is still playing out, is likely to dramatically worsen short-term poverty and inequality dynamics. Against this background, this departmental paper investigates the link between commodity prices, and poverty and inequality developments in Latin America.

The State of State Reforms in Latin America

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Author :
Publisher : World Bank Publications
ISBN 13 : 0821365762
Total Pages : 474 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis The State of State Reforms in Latin America by : Eduardo Lora

Download or read book The State of State Reforms in Latin America written by Eduardo Lora and published by World Bank Publications. This book was released on 2006-10-23 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or 'second generation' reforms. 'The State of State Reform in Latin America' reviews and assesses the outcomes of these less studied institutional reforms. This book examines four major areas of institutional reform: a. political institutions and the state organization; b. fiscal institutions, such as budget, tax and decentralization institutions; c. public institutions in charge of sectoral economic policies (financial, industrial, and infrastructure); and d. social sector institutions (pensions, social protection, and education). In each of these areas, the authors summarize the reform objectives, describe and measure their scope, assess the main outcomes, and identify the obstacles for implementation, especially those of an institutional nature.

The Political Economy of Taxation in Latin America

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1108474578
Total Pages : 285 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis The Political Economy of Taxation in Latin America by : Gustavo Flores-Macias

Download or read book The Political Economy of Taxation in Latin America written by Gustavo Flores-Macias and published by Cambridge University Press. This book was released on 2019-06-27 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a comprehensive, region-wide analysis of the politics of taxation in Latin America to make reforms politically palatable and sustainable.

Progress, Poverty and Exclusion

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Author :
Publisher : IDB
ISBN 13 : 9781886938359
Total Pages : 390 pages
Book Rating : 4.9/5 (383 download)

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Book Synopsis Progress, Poverty and Exclusion by : Rosemary Thorp

Download or read book Progress, Poverty and Exclusion written by Rosemary Thorp and published by IDB. This book was released on 1998 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive Statistical Appendix provides regional and country-by-country data in such areas as GDP, manufacturing, sector productivity, prices, trade, income distribution and living standards."--BOOK JACKET.

The IMF and the Latin American Debt Crisis

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The IMF and the Latin American Debt Crisis by : Mr.James M. Boughton

Download or read book The IMF and the Latin American Debt Crisis written by Mr.James M. Boughton and published by International Monetary Fund. This book was released on 1994-10-10 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF played a key role in developing and implementing the debt strategy throughout the 1980s. That strategy not only overcame the crisis but also produced successful transformationsof several major economiesin Latin America. Nonetheless, the IMF's role has also been criticized on several grounds. This study examines seven such criticisms.

Fiscal Adjustment for Stability and Growth

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Author :
Publisher : International Monetary Fund
ISBN 13 : 9781589065130
Total Pages : 80 pages
Book Rating : 4.0/5 (651 download)

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Book Synopsis Fiscal Adjustment for Stability and Growth by : Mr.James Daniel

Download or read book Fiscal Adjustment for Stability and Growth written by Mr.James Daniel and published by International Monetary Fund. This book was released on 2006-08-17 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF’s approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stability and growth. Structured around five practical questions—when to adjust, how to assess the fiscal position, what makes for successful adjustment, how to carry out adjustment, and which institutions can help—it covers topics such as tax policies, debt sustainability, fiscal responsibility laws, and transparency.

Structural Reforms, Productivity and Technological Change in Latin America

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Author :
Publisher : United Nations Publications
ISBN 13 :
Total Pages : 164 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Structural Reforms, Productivity and Technological Change in Latin America by : Jorge M. Katz

Download or read book Structural Reforms, Productivity and Technological Change in Latin America written by Jorge M. Katz and published by United Nations Publications. This book was released on 2001 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last ten to fifteen years, profound structural reforms have moved Latin America and the Caribbean from closed, state-dominated economies to ones that are more market-oriented and open. Policymakers expected that these changes would speed up growth. This book is part of a multi-year project to determine whether these expectation have been fulfilled. Focusing on technological change, the impact of the reforms on the process of innovation is examined. It notes that the development process is proving to be highly heterogenous across industries, regions and firms and can be described as strongly inequitable. This differentiation that has emerged has implications for job creation, trade balance, and the role of small and medium sized firms. This ultimately suggests, amongst other things, the need for policies to better spread the use of new technologies.

Fiscal Policy and Long-Term Growth

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498344658
Total Pages : 257 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund

Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.