Lac Semiannual Report October 2015
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Lac Semiannual Report October 2015
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Author : Alain Ize
language : en
Publisher: World Bank Publications
Release Date : 2015
Lac Semiannual Report October 2015 written by Alain Ize and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Caribbean Area categories.
Chapter 1 of the report covers the short-term prospects and provides an analysis of the external factors affecting the region's economic slowdown. The focus is on the adjustment challenges faced by those Latin American countries experiencing a major adverse terms of trade shock, which comes after an unprecedented (in magnitude and duration) period of terms of trade bonanza. Chapter 2 discusses the key topic of this semiannual report, that is, the implications of the slowdown for labor markets on jobs and wages. We describe the broad labor market trends observed during the boom and contrast them with the patterns observed during the slowdown. We also describe the implications of the slowdown for inequality. A corollary of the observed labor market patterns during the slowdown is that some of the gains towards greater income equality achieved in the past decade or so may be reversed, at least in part, and that we may see a divergence between labor income inequality and household income inequality, whereby the latter may rise more than the former.--Résumé de l'éditeur.
Jobs Wages And The Latin American Slowdown
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Author :
language : en
Publisher:
Release Date : 2015
Jobs Wages And The Latin American Slowdown written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Electronic book categories.
Lac Semiannual Report October 2015
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Author : Augusto De la Torre
language : en
Publisher:
Release Date : 2015
Lac Semiannual Report October 2015 written by Augusto De la Torre and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Equality categories.
As usual, Chapter 1 of the report covers the short-term prospects and provides an analysis of the external factors affecting the region's economic slowdown. The focus is on the adjustment challenges faced by those Latin American countries experiencing a major adverse terms of trade shock, which comes after an unprecedented (in magnitude and duration) period of terms of trade bonanza. Chapter 2 discusses the key topic of this semiannual report, that is, the implications of the slowdown for labor markets †“ on jobs and wages. We describe the broad labor market trends observed during the boom and contrast them with the patterns observed during the slowdown. We also describe the implications of the slowdown for inequality. A corollary of the observed labor market patterns during the slowdown is that some of the gains towards greater income equality achieved in the past decade or so may be reversed, at least in part, and that we may see a divergence between labor income inequality and household income inequality, whereby the latter may rise more than the former.
Lac Semiannual Report October 2017
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Author : Vegh, Carlos A.
language : en
Publisher: World Bank Publications
Release Date : 2017-11-10
Lac Semiannual Report October 2017 written by Vegh, Carlos A. and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-10 with Business & Economics categories.
"After a growth slowdown that lasted six years (including a contraction of 1.3 percent last year), the Latin American and Caribbean (LAC) region is finally expected to resume positive growth in 2017, with market analysts forecasting real GDP growth of 1.2 percent for 2017 and 2.3 percent for 2018. The recovery, particularly in South America, will be led by a strong rebound in Argentina, which is expected to grow by 2.8 percent in 2017 and 3.0 percent in 2018, and Brazil, which is expected to resume positive growth as well, expanding by 0.7 percent in 2017 and 2.3 in 2018, after contracting for two consecutive years. The usual external drivers of growth (particularly commodity prices, and growth in China and U.S.) are expected to remain relatively neutral, which points to the need for the region to reinforce its own sources of growth (e.g., structural reforms, investment in infrastructure, and further international trade both within and outside the region). Unfortunately, the region finds itself in a weak fiscal situation with 28 out of 32 countries with an overall fiscal deficit, which implies that a gradual but sustained fiscal consolidation will be needed in the years ahead. The report's main focus (Chapter 2) is on the monetary policy dilemma faced by countries in LAC. When a typical commodity-exporter country in LAC is hit by, say, a negative terms of trade shock, real GDP falls, the currency depreciates, and inflation increases. The Central Bank faces the dilemma of (i) increasing policy rates to defend the currency/fight inflation, but at the cost of aggravating the recession or (ii) reducing the policy rate, thus stimulating output, but encouraging further depreciation and inflation. Traditionally, LAC countries have chosen the first option and have thus pursued procyclical monetary policy (i.e., increasing policy rates in bad times). Recently, however, many countries have been able to switch and become countercyclical (i.e., reducing policy rates in bad times), which enables them to prop up the economy in recessionary times (which is particularly important when lack of fiscal space precludes countercyclical fiscal policy)."
Lac Semiannual Report April 2015
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Author : Augusto de la Torre
language : en
Publisher: World Bank Publications
Release Date : 2015-04-18
Lac Semiannual Report April 2015 written by Augusto de la Torre and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-18 with Business & Economics categories.
The April 2015 LAC Semiannual Report covers the short-term prospects and provides an analysis of the external factors affecting the region's economic performance. The first chapter expands on LAC's economic outlook paying special attention to the global context and its effect on LAC’s economic performance. In this first Chapter we argue that the region experienced an external shock that has shaped growth in recent years, and that this shock is likely here to stay. Chapter 2 discusses the policy space available for LAC countries as they try to accommodate to the current global context. In particular, the first part of the second Chapter discusses the rather limited monetary fiscal and monetary space currently present in the region. The second part of the Chapter argues part of this limited policy space is associated to LAC’s relatively low savings rate. Moreover, the Chapter shows that in addition to the potential positive effects that higher savings could have on policy space, it could also have a beneficial effect on long-term growth.
Lac Semiannual Report October 2014
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Author : Augusto de la Torre
language : en
Publisher: World Bank Publications
Release Date : 2014-10-08
Lac Semiannual Report October 2014 written by Augusto de la Torre and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-08 with Business & Economics categories.
As usual in this series, Chapter 1 reviews the configuration of global risks and assesses the outstanding short term opportunities and challenges facing the LAC region. We document the significant slowdown in economic activity across the region, and explore the possibility of this being the ‘new normal’. In Chapter 2 we assess if the major social gains achieved during the ‘Golden Decade’, in particular the decline in inequality, will hold in this less supportive environment, and discuss alternative policy responses to preserve and further the equity gains in the region.
Lac Semiannual Report April 2016
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Author : Augusto de la Torre
language : en
Publisher: World Bank Publications
Release Date : 2016-04-13
Lac Semiannual Report April 2016 written by Augusto de la Torre and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-13 with Business & Economics categories.
This semiannual report †“ produced by the Office of the Chief Economist for Latin America and the Caribbean (LAC) of the World Bank †“ analyzes the economic and financial performance of LAC in light of the commodity price cycle. Chapter 1 covers short-term prospects, identifies the external factors affecting the economic slowdown, and focuses on the policy challenges faced by the region (South America in particular) in terms of the monetary, fiscal, external and social adjustments required to accommodate the new external environment. Chapter 2 reviews the region’s experience during the commodity cycle, links it with the external environment, and identifies low saving as a key determinant of both the macroeconomic performance during the cycle and the constrained policy space policy makers now face, in some countries more than others. The chapter concludes with a discussion of the policy choices the region now faces, both for the immediate future and for the longer run.
Lac Poverty And Labor Brief June 2015
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Author : Weltbank
language : en
Publisher: World Bank Publications
Release Date : 2015
Lac Poverty And Labor Brief June 2015 written by Weltbank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Fiscal policy categories.
While LAC continues its progress towards becoming a middle-class region, in 2013 poverty reduction was slower than in previous years. The bottom 40 percent of the population has also seen decelerating income growth since the 2008-2009 global financial crisis. Driving the lower gains in shared prosperity and poverty reduction is the region's slowing economic growth. Similarly, after more than a decade of steady decline, inequality has been stagnant since 2010 and remains high. Given the crucial role of labor earnings in poverty and inequality reduction, this report analyzes more deeply LAC's labor markets and its implications for the region's social gains going forward. It shows that the region's push to increase its human capital has yielded dividends; increases in the educational attainment of the labor force are evident across the region. Nonetheless, the substantial growth in wages observed during the last decade was not accompanied by significant changes in the labor market: agriculture and low-productivity, informal service employment continued to be key sources of income for the poor in LAC. Instead, most of the gains were seen in countries that benefitted from the commodity boom of the last decade. As the commodity boom fades and growth wanes, there is a risk that the social gains achieved in the century's first decade will erode.
The Puzzle Of Latin American Economic Development
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Author : Patrice Franko
language : en
Publisher: Rowman & Littlefield
Release Date : 2018-09-07
The Puzzle Of Latin American Economic Development written by Patrice Franko and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-07 with Political Science categories.
Thoroughly revised and updated, this foundational text provides the basic economic tools for students to understand the problems facing the countries of Latin America. In the fourth edition, Patrice Franko analyzes challenges to the neoliberal model of development and highlights recent macroeconomic changes in the region. Including charts and tables with the most current data available, the book also offers a wealth of new boxed discussions and vignettes.
Lac Semiannual Report April 2014
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Author : Augusto de la Torre
language : en
Publisher: World Bank Publications
Release Date : 2014-04-24
Lac Semiannual Report April 2014 written by Augusto de la Torre and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-24 with Business & Economics categories.
As usual in this series, Chapter 1 reviews the configuration of global risks and assesses the outstanding short term opportunities and challenges facing the LAC region. A special focus is placed this time around on the difference between exposure and vulnerability to exogenous shocks, with the latter assessed by adjusting exposure for a country’s shock absorption policy capacity. Given the global context and associated concerns with capital flow volatility, in Chapter 2 we take a look at the comparatively more stable components of international flows: FDI and Remittances. The cyclicality and volatility, as well as the joint determinants of FDI and Remittances are reviewed.