This paper develops a simple structuralist model to deal with the relationships between inflation and external adjustment policies in foreign-indebted economies facing strong reversals in capital inflows. Taking Latin American experiences in the eighties as a reference, the model attempts to...

This review-paper deals with different factors that have an effect on location decisions made by financial institutions. Emphasis is given to those factors that are specific to the financial sector and not applicable to economic activity in general.

Emerging market economies (EMEs) are making important strides in developing long-term finance capital market vehicles to support investment in strategic areas such as infrastructure. However, since last year, EMEs have suffered from big shifts in terms of market sentiment. While EMEs’...

Some analysts believe that the commodity price boom of the new millennium has played itself out. However, natural resource–based commodity prices (with the exception of shale gas and its downward pressure on U.S. natural gas prices) have remained high by historical records over the last few...

Confidence in combining inflation-targeting-cum-flexible-exchange-rate regimes with isolated microprudential regulation as a means to guarantee both macroeconomic and financial stability has been shattered by the scale and synchronization of the asset price booms and busts that preceded the...

This note examines in detail Brazil’s export performance over the past 15 years, focusing not only on growth and composition, but also on different performance dimensions, including diversification, sophistication, and firm dynamics. The analysis uses international comparisons to better...