Latin American experts demonstrate how market-friendly measures in key policy areas can promote greater equity and efficiency. By identifying win-win strategies, the authors challenge the conventional wisdom that there is always a tradeoff between these two objectives. This volume shows how...

The authors of this volume analyze the policies that led to East Asia's economic success, including those affecting human resources, savings, the financial sector, trade and institutions, and examine the lessons these policies carry for Latin America. The genesis of this book was an...

In this book, policymakers, academics and market practitioners exchange views on the current economic situation, appropriate financial regulatory and supervisory standards, design of financial market institutions, and efficient safety nets for banks and other financial institutions. This volume...

India's fiscal problem has deep roots in its federal fiscal system, where multiple players find it difficult to coordinate adjustment. The size and closed nature of the Indian economy, aided by its deep domestic capital market and large captive pool of domestic savings, has disguised the cost of...

The Venezuelan experience in the 1980s is a particularly fertile ground for the analysis of negative shocks. Two large shocks took place under very different control regimes, thus highlighting the role the institutional setting plays in determining the response. Moreover, the experience can shed...

What are the reasons for the costs of Latin America's volatility? Because there is no consensus on these fundamental questions, there is no consensus on the appropriate policy response to macroeconomic volatility in Latin America, and other shock-prone countries. This paper provides new evidence...

This paper presents a growth diagnostic exercise for Peru. It notes that although Peru has recently enjoyed high rates of economic growth, this growth is actually a recovery from a significant and sustained growth collapse that began in the 1970s, caused by a decline in export earnings due to...

This paper reviews and contributes to the policy debate on the issue of saving in Latin America, presenting an alternative perspective on the relationship between saving and growth, saving and inflation stabilization and structural reform, and saving and capital flows.

This paper reviews recent experience with international capital flows in Latin America, and discusses the policy issues that surround them. The paper is predicated on three basic premises. Capital flows to the region are an important source of macroeconomic disturbance. Also, capital flows are...

This paper applies new techniques and metrics to analyze Ecuador's past record of and future opportunities for structural transformation. Ecuador's export dynamics and the emergence of new export activities have been the historical drivers of the country's growth, but recently Ecuador's export...