We use a recent policy experiment in Rio de Janeiro, the installation of permanent police stations in low-income communities (or favelas), to quantify the relationship between a reduction in crime and the change in the prices of nearby residential real estate. Using a novel data set of detailed...

Founded in 1952, the National Bank for Economic and Social Development (BNDES) is a financial entity fully owned by the Brazilian government. It is in the process of redefining its priorities and its role going forward. New operational policies (OPs) published on January 5, 2017, mark an...

Globalisation has had a major impact on manufacturing competitiveness and industrial development in transitional and developing economies. This up-to-date book critically examines the experience of a wide range of countries, focusing on the policy challenges they face in the new global economy.

This paper discusses how MNCs reacted to NAFTA and MERCOSUR in terms of their investment and operations patterns in three sectors - automotive, electronics, and apparel - and assesses the likely impact of the upcoming Free Trade Agreement of the Americas (FTAA). It shows that NAFTA functioned -...

This background paper assesses the actions of the Inter-American Development Bank (IDB, or Bank) related to private sector development (PSD) that were mandated under the Ninth General Capital Increase in Resources (IDB-9). It finds that Management has taken the necessary formal steps to address...

A large body of empirical work has found that exchange rate movements have only modest effects on inflation. However, the response of an import price index to exchange rate movements may be underestimated because some import price changes are missed when constructing the index. We investigate...

A large body of empirical work has found that exchange rate movements have only modest effects on inflation. However, the response of an import price index to exchange rate movements may be underestimated because some import price changes are missed when constructing the index. We investigate...