In an integration process, the quality of the agreement reached depends on the affinity observed in the domestic strategies and policies. Insofar as they are compatible, the agreement will be successful. Therefore, the harmonization of policies in regional integration agreements is justified....

Privatization policy faces increasing popular opposition in Latin America. We test for the determinants of this discontent. We use the results of Latinobarometro (2002), a survey of a representative sample of 18522 individuals in 17 countries as our dependent variable of perception, and a...

This paper presents and evaluates the hypothesis that emerging countries specialized in commodity production are prone to experience non orthogonal commercial and financial shocks. Specifically, we investigate a set of global macroeconomic variables that, in principle, could simultaneously...

Up to the financial slump of the second quarter of 2008 commodity prices grew fast for several consecutive years in a highly volatile context. Recent commodity fluctuations have raised both policy concerns and a prolific academic debate. This paper offers a coherent theoretical and empirical...

The goal of this paper is to provide up-to-date worldwide evidence on the short-term relationship between credit changes and output changes. Standard correlation methods, stateof-the-art panel Granger causality tests, and panel regressions were applied on a maximum sample of 144 countries over...

This paper presents and evaluates the hypothesis that emerging countries specialized in commodity production are prone to experience non orthogonal commercial and financial shocks. Specifically, we investigate a set of global macroeconomic variables that, in principle, could simultaneously...