Using a panel of Uruguayan manufacturing firms we analyze the adjustment process in capital, blue collar and white collar employment. Our results confirm the lumpy nature of factor adjustment, the relevance of nonlinearities and the interdependence between factor shortages. The average annual...

Using a panel of Uruguayan manufacturing firms we analyze the adjustment process in capital, blue collar, and white collar employment. Adjustment functions are defined with respect to the gap between optimal and actual factor use. Our results confirm the asymmetric nature of factor adjustment,...

The economic successes of China and India are viewed with admiration but also with concern because of the effects that the growth of these Asian economies may have on the Latin American and Caribbean (LAC) region. The evidence in 'China's and India's Challenge to Latin America' indicates that...

Although the Latin American region's growth rates are at a three decade high, they have been historically disappointing in relative terms, which cannot be dissociated from the microeconomic environment in which firms operate. Policy makers may need to complement their focus on macroeconomic...

This, the first book in the Global Development Network series, brings together the views of researchers from the developing and developed world and provides models of successful research conducted in developing and transition countries.

This article analyses a labour supply model in which individuals maximize a utility function that depends on leisure time, consumption and time devoted to an activity that is termed ‘artistic’. This activity may generate income that depends nonlinearly on hours dedicated to it. The...

The economic successes of China and India are viewed with admiration but also with concern because of the effects that the growth of these Asian economies may have on the Latin American and Caribbean (LAC) region. The evidence in 'China's and India's Challenge to Latin America' indicates that...

Although the Latin American region's growth rates are at a three decade high, they have been historically disappointing in relative terms, which cannot be dissociated from the microeconomic environment in which firms operate. Policy makers may need to complement their focus on macroeconomic...

This paper studies the impact of trade liberalization on labor and capital gross flows and productivity in the Uruguayan manufacturing sector. Uruguay opened its economy in the presence of -at least initially- strong unions and structurally different industry concentration levels. Higher...