This exploratory article describes the growth path of national government expenditure during the last eighty years. It covers the following topics: the long term relation between economic growth and public expenditure; budget policies executed in different macroeconomic contexts; and the evolving...

This second paper from Mauricio Avella describes the complete cycle of capital exports originating in the United States in the 1920's: the conversion of United States into a creditor nation; the role of New York as the dominant financial center; and the distribution of United States investments,...

Latin American access to international markets since the beginning of the 19th century has depended on the cyclical behavior of foreign indebtedness. This document studies Great Britain's cycles of boom and recession in international credit and Latin American participation on the international...