The last decade has witnessed the emergence of a more global economy reflecting the continued rise in trade (especially of manufactures) as a proportion of output, a major shift of international specialisation, faster diffusion of technical progress and the globalisation of financial markets....

The Hamburg Institute for Economic Research, the Institut für Iberoamerikakunde, Hamburg, and the Institute for European-Latin American Relations, Madrid, on the occasion of the 1993 Annual Assembly of the IDB/IIC Board of Governors in Hamburg, organized a seminar on "Latin America's...

In the last decade, many of the more advanced developing countries in Latin America and Asia have deregulated and opened up their financial markets. What impact has this had on the efficiency of the financial sector? How can the existence of sustained interest differentials be explained?