Latin America has not neglected fiscal policy. Since the end of the debt crisis of the 1980s, governments in the region have tightened their belts assiduously. Fiscal deficits have fallen from 11 per cent of public revenues in the 1970s and 1980s, to only 8 per cent since 2000. The year-to-year...

China's growing influence on Africa and on Latin America has, to some extent, overshadowed the rise of another emerging market giant in the East: India. This other Asian emerging presence is also symbolic of the rapid redesigning of the global economic map. Europe, Japan and the United States...

While natural resource revenues ought to enable development, past experiences with the 'Paradox of Plenty' have shown that mineral and oil wealth often represents a curse rather than a blessing, inducing slower growth and higher levels of poverty. Many resource rich countries have high poverty...

The political and economic transformation now emerging in Latin America, as some countries eschew rigid ideologies and adopt a more pragmatic combination of neoclassical orthodoxies and progressive social policies.