Latin America in the 1990s remains the most unequal region in the world in terms of income distribution. Yet because of its changing demographics -declining fertility rates and large number of young people entering the workforce- the region now has a unique window of opportunity to reduce the...

Latin America in the 1990s remains the most unequal region in the world in terms of income distribution. Yet because of its changing demographics -declining fertility rates and large number of young people entering the workforce- the region now has a unique window of opportunity to reduce the...

Latin America is volatile--about two to three times as volatile as the industrial economies. It is more volatile than any region other than Africa and the Middle East. Latin America's access to international financial markets is sporadic, and often disappears just when it would be most valuable.

Recent economic developments highlight Latin America's vulnerability to economic and financial turmoil that is triggered by events in distant corners of the globe. The Asian financial crisis that began in 1997 and the more recent Russian crisis have left the region profoundly shaken, and living...

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...

What is the impact of political decentralisation in Latin America? This book considers the problems raised by political decentralisation in the region and identifies the challenges ahead. Political decentralisation tends to devolve a certain amount of financial responsibility to the sub-national...

Latin America's economies have made tremendous improvements in recent years. Following the lost decade of the 1980s, economic growth has resumed. But the fruits of this progress remain to be consolidated. The political consensus supporting reform is fragile, and the economies of the region are...

Financial liberalization and integration have generated disappointing results. They were supposed to set up a win-win situation: capital would flow from capital-abundant, low-return, aging industrial countries to capital-scarce, high-return, young emerging countries. Growth in receiving...

This publication was undertaken in the context of the International Forum on Latin American Perspectives, jointly organized by the Inter-American Development Bank and the OECD Development Centre. The IDB and the OECD Development Centre created this forum as an annual meeting place of ideas and...