Privatization policy faces increasing popular opposition in Latin America. We test for the determinants of this discontent. We use the results of Latinobarometro (2002), a survey of a representative sample of 18522 individuals in 17 countries as our dependent variable of perception, and a...

Foreign reserve accumulation is a widespread phenomenon of recent years, particularly among emerging economies. Using a panel of 136 countries for the period 1973-2003, we demonstrate the need of using both a dynamic specification of the reserve demand equation and the system GMM estimator....

While most economists usually believe that privatization policy is socially beneficial, it faces increasing opposition in several countries. In this paper we wish to discover the ingredients in a recipe for privatization discontent. To do so we focus on Latin America, where there is wide...

This study intends to determine the relationship existing between the exchange rate regime and real volatility. After revising the theoretical and empirical results of previous research, it is proposed a new methodology that corrects deficiencies of previous empirical papers. The results show...

This paper investigates the long run behavior of real exchange rates in nineteen countries of Latin America over the period 1970 - 2006. Our data does not support the Purchasing Power Parity (PPP) hypothesis, implying that real shocks tend to have permanent effects on Latin America’s real...

Privatisation faces strong and increasingly popular opposition in Latin America. This paper uses individual data on social attitudes, socioeconomic status and demographic information from three waves of Latinobarometro surveys (1998, 2000 and 2002) in 17 countries to study the role of...

This paper presents and evaluates the hypothesis that emerging countries specialized in commodity production are prone to experience non orthogonal commercial and financial shocks. Specifically, we investigate a set of global macroeconomic variables that, in principle, could simultaneously...

This paper investigates the long run behavior of real exchange rates in nineteen countries of Latin America over the period 1970 - 2006. Our data does not support the Purchasing Power Parity (PPP) hypothesis, implying that real shocks tend to have permanent effects on Latin America's real...