After decades of stagnation, the size of Latin America's middle class recently expanded to the point where, for the first time ever, the number of people in poverty is equal to the size of the middle class. This volume investigates the nature, determinants and possible consequences of this...

This paper presents an incidence analysis of both social spending and taxation for seven Latin American countries, the United Kingdom, and the United States. The analysis shows that Latin American countries are headed de facto toward a minimalist welfare state similar to the one in the United...

The authors examine how institutions that enforce contracts between two parties-producers and consumers-interact in a competitive market with one-sided asymmetric information and productivity shocks. They compare an informal enforcement mechanism, reputation, the efficacy of which is enhanced by...

Cover -- Half Title -- Title Page -- Copyright Page -- Contents -- Foreword -- Acknowledgments -- About the Authors -- Abbreviations -- Overview -- A Successful Decade with Challenges Ahead -- A Framework for Studying Chronic Poverty -- Measuring Chronic Poverty in the Absence of Longitudinal...