The world economy is not what it used to be twenty years ago. For most of the 20th century, the world economy was characterized by developed (North) countries acting as 'center' to a 'periphery' of developing (South) countries. However, the recent rise of developing economies suggests the need...

Latin America's historically low saving rates and sub-par growth performance raise the question of whether the region should save more to grow faster. Economists generally resist acknowledging a policy-exploitable causal connection going from saving to growth because domestic saving is perceived...

Para los gobiernos de muchos paises de la region de America Latina y el Caribe ha sido problematico el manejo de la produccion de recursos naturales y de sus repetidos ciclos de bonanzas y crisis. 'Los recursos naturales en America Latina y el Caribe Mas alla de bonanzas y crisis?', es un libro...

This paper reviews the determinants of Latin America's uneven growth based on an accounting decomposition that breaks down countries' growth (relative to the world) into three trade-related channels: (i) an export pull measuring the traction exerted by the country's exports, (ii) an external...

There are three stakeholders in a public-private partnership (PPP), (a) the government in office, (b) private firms (financial and non-financial) and investors (individual and institutional), and (c) final beneficiaries (taxpayers or users, present and future). The raison detre of PPPs is...

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...

Este reporte explora la restructuracion de la economia global ocasionada por el ascenso del Sur y destaca la transformacion en los patrones de integracion global de ALC y las consecuencias de esta transformacion en la dinamica del desarrollo de la region. En particular, se analiza de forma...

In this study, the authors analyze where we stand and where we are heading on capital market development. More specifically, this study has three main goals. First, the authors take stock of the state and evolution of Latin American capital markets and related reforms, over time and relative to...

This report, produced by the Office of the Chief Economist for Latin America and the Caribbean (LAC) of the World Bank, examines LAC's challenges as the global economy settles to an equilibrium with lower growth and lower commodity prices. Chapter 1 gives an overview of the world economy and how...