Las negociaciones del TLC han generado ya una voluminosa bibliografía, concentrada en las implicaciones potenciales de este arreglo minilateral para las economías de México, Estados Unidos y Canadá. También han despertado cierto interés las implicaciones económicas del TLC para el resto...

This paper tests a neo-Schumpeterian model with industry-level data to analyze how Brazil, India, and China are catching up with South Korea’s technological frontier in a globalized world. The paper validates Aghion et al.’s inverted-U hypothesis that industries that are closer to the...

We test for hypercrowding out as a signal of market concerns over fiscal dominance in five Latin American countries. Hypercrowding out occurs when fiscally dominated governments’ domestic credit demands are perceived as so intrusive to a nation’s financial system that a move towards fiscal...