La Revista Integración & Comercio del BID incluye artículos referidos a las distintas manifestaciones del proceso de integración en América Latina y el Caribe, a la integración hemisférica y, también, a los procesos con igual orientación que se llevan a cabo en otras partes del mundo....

Subsequent to the economic difficulties of the 1980s, many Latin American governments reluctantly began to introduce market-oriented reform measures. In many cases, the new measures were adopted only as a means of participating in debt-relief programs such as the Brady Initiative. In no case,...

Impacts of the availability of low cost computing power on macroeconometric forecasting and research in Latin America are widespread. One of the most immediate effects of the adoption of microcomputing hardware was more rapid adoption of new econometric estimation techniques. Easier development...

We examine the extent, causes and consequences of the use of foreign currency as a co-circulating medium of exchange and store of value in Latin America. Using new estimates of the amount of foreign currency in circulation in the form of US dollars, we obtain unique measures of currency...

We analyze empirically whether the emergence of China as a large recipient of FDI has affected the amount of FDI received by Latin American countries. For the longest time span possible given data availability (from 1984 to 2001), we do not find a substitution from Latin American inward FDI to...

In this paper we present a solution to the problem of pricing guarantees of minimum returns on pension fund contributions. These guarantees exist by law in Colombia and cover all pension fund contributions made to the country's private pension fund administration companies (AFPs). As of...

Static time series models usually assume stationarity, normality, and independence for the increments of financial rates of return. This paper investigates the empirical characteristics of financial rates of return from Latin American stock and currency markets and documents that their empirical...

In this study, we examine the response of Latin American stock markets to movements in European stock markets using VAR models. Our results vary depending on the openness of the country in terms of international trade. We find evidence that Latin American stock markets are responsive to changes...