Countercyclical country interest rates have been shown to be both a distinctive characteristic and an important driving force of business cycles in emerging market economies. In order to account for this, most business cycle models of emerging market economies have relied on ad hoc and exogenous...

This working paper discusses infrastructure investment in Latin America at the subnational, private level and challenges incurred in emerging economics. As decentralization and devolution of responsibilities to subnational governments is increasing, the volume of private infrastructure under the...

This book analyzes the status of the markets in Latin America and identifies the technical, political, and financial challenges to building vibrant capital markets and increasing the efficiency benefits of regional economic and financial integration.

The retired population can be expected to make a substantial claim on the economic resources of virtually every nation. This book is geared to helping planners devise workable and efficient pension systems for Caribbean nations. It offers specific discussions of instruments, programs, and...

'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the...

This article explores in depth the role of indigenous and foreign innovation efforts in technological change and catching up in emerging economies. It also looks at the interaction between indigenous and foreign innovation. The article presents original evidence and argues that, despite the...