This paper discusses about the relations between The Andean Community and the European Union, in the context of the conformation of South America Free Trade Area. Economic relations are well-differenced between the European Union and two South American blocks: Andean Community and MERCOSUR. The...

This teaching material concentrates on the influence of transportation costs, size of markets and productivity differences in the competitiveness of producers located in different places. It is a simple presentation of the approach taken by Krugman, by Button and by Richardson in their...

Previous introduction to the preceding events and evolution of the international crisis, from 1997 to 1999, and to the comparative analysis of stock markets’ volatility and exchange devaluations that went on along with it. This working document tries to approximately evaluate the recent...

The fastest massive increase in poverty in Latin American modern history is commonly attributed to the debt crisis. The 80s of this ending century have been called “the lost decade”. The Jubilee 2000 campaign presses for placing a strong moral exigency on the creditors and must lay a solid...

The objective of the present study is to analyze three aspects of the privatization of the so called utilities. First, from a positive perspective, we model the privatization decision by a rational government that maximizes a political agenda. Second, from an institutional perspective, we...

In the last two decades, the Peruvian economy exhibited rapid growth. Moreover, the composition of the labor force improved in terms of education and experience, two variables which are typically associated to higher human capital. The average worker in 2012 had a higher level of education and...

We use real GDP per capita and three standard indicators of stock market development: value traded/GDP, market capitalization/GDP and turnover to study the short-run link between the stock market and economic activity in Peru. Based on annual time series data for the period 1965-2011, we...

The Peruvian economy has had an extraordinary performance in the last 10 years. The 2012 per capita GDP is 66 percent over 2002 and more than double its 1992 level. In a long term perspective, the cumulative growth of GDP per capita recorded in the last 10 years has been the strongest since...

We analyze the degree of persistence of the unemployment rates of the 10 Canadian provinces using quarterly data for the period 1976:1-2005:4. We apply a two-break minimum Lagrange Multiplier unit root statistic, which, unlike standard unit root statistics (without or with breaks), makes it...