In this paper detailed information on the budget institutions of Latin American countries is collected. These institutions are classified on a hierarchical/collegial scale, as a function of the existence of constraints on the deficit and voting rules.

Financial turmoil is becoming a fact of life in Latin America. The 1990s have been characterized by enormous volatility in the magnitude and cost of capital flows. The correlation of capital swings across disparate countries suggests that the quality of emerging market policies in addition to...

Latin America`s enormous endowment of natural resources impacts many countries of the region. Economic liberalization in several countries was followed by rapid growth of foreign investment and exports of natural resource-intensive products. Growth of labor-intensive manufacturing industries was...

In this paper, social mobility is measured by looking at the extent to which family background determines socioeconomic success. An index of social mobility for developing countries is proposed based on the correlation of schooling gaps between siblings.

This paper studies the proposition that capital inflows tend to take the form of FDI--i. e. , the share of FDI in total liabilities tends to be higher--in countries that are safer, more promising and with better institutions and policies. It finds that this view is patently wrong since it stands...

In this paper we provide an overview of the situation of the Internet in Latin America and argue that, although latecomers, Latin American countries could in principle catch up at a faster pace and a lower cost. But that will depend on the environment for innovation in the countries; in that...

According to recent research, external factors and political governance considerations are key determinants of capital flows in Latin America. We postulate that corporate governance is a crucial determinant as well. We show that while the region is characterized by relatively low levels of...

It has been common to attribute financial crises to short-term capital inflows, while foreign direct investment (FDI) is seen as a safer form of finance. The relationship between crises and the composition of capital flows is particularly relevant at present because the flow of capital to Latin...

This paper explores the institutional determinants of economic growth in Latin America by taking advantage of recent empirical research that employs subjective and objective measures to test for a possible Northian explanation that links institutional quality and economic growth. I provide a...

This paper surveys evidence on discrimination in Latin America and shows that there is a widespread perception of discrimination, especially against the poor, the uneducated and those who lack connections. The channels through which discrimination occurs may be built on the basis of economic...