After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...

This paper explores whether the level of financial integration of banks in a country increases the incidence of systemic banking crises. The paper uses a de facto proxy for financial integration based on network statistics of banks participating in the global market of interbank syndicated...

La Revista Integración & Comercio del BID incluye artículos referidos a las distintas manifestaciones del proceso de integración en América Latina y el Caribe, a la integración hemisférica y, también, a los procesos con igual orientación que se llevan a cabo en otras partes del mundo....

This is the data used for the estimation of the GVAR model as in "China's Emergence in the World Economy and Business Cycles in Latin America" (access the study in the related URL Section). The dataset includes quarterly data for twenty-five major advanced and emerging economies plus the euro...

This study deals with the appropriate macroeconomic policies toward international capital flows. It argues that countries in a position to integrate themselves into world capital markets should develop specific policies to deal with capital flows. This paper first shows that foreign capital...

Fiscal policy has been at the center of Brazil's economic dynamics and performance for more than 30 years. In this line, the approval and implementation of a Fiscal Responsibility Law in 2000 was a key step in supporting fiscal sustainability and the transparency of fiscal accounts. Despite...

In this policy brief, we review the problem of a lack of competitiveness and the policy options to improve competitiveness and hence promote economic growth. Inadequate competitiveness can be measured as a sustained current account deficit of the balance of payments. We discuss the advantages...