This paper analyzes Raúl Prebisch's less familiar contributions to economic theory, related to the business cycle, and heavily informed by the Argentinean experience. His views of the cycle emphasize the common nature of the cycle in the center and the Latin American periphery as one unified...

There is a longstanding tradition of analyzing trade and growth in economics, going back to the discipline's founders. But for Latin America, the debate on the significance of this relationship has had much more than academic relevance. It has been one of the central components of the different...

Resumen Luego de los procesos de ajuste de la década de los ochenta, Centroamérica inició una etapa de pacificación regional y liberalización comercial tendiente a integrarla en su esfera geográfica 'natural' (América del Norte). Los esfuerzos de integración extrarregional avanzaron con...

This paper examines the ways in which taxation, social and labour (T S & L) policies in Argentina and Chile have been shaped by state-business relations and capital-labour relations in a context where business organizations/associations have different degrees of cohesiveness through time. At the...

Using two standard cycle methodologies (classical and deviation cycle) and a comprehensive sample of 83 countries worldwide, including all developing regions, we show that the Latin American and Caribbean cycle exhibits two distinctive features. First, and most important, its expansion...

We argue that a fundamental difference between Post-Keynesian approaches to economic growth lies in their treatment of investment. Kaleckian-Robinsonian models postulate an investment function dependent on the accelerator and profitability. Some of these models rely on the importance of...

Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs crafted by the European Union and the International Monetary Fund in both Greece and Ireland, was caused by fiscal profligacy on the part of peripheral, or non-core, countries in...

The Spanish crisis is generally portrayed as resulting from excessive spending by households, associated with a housing bubble and/or excessive welfare spending beyond the economic possibilities of the country. We put forward a different hypothesis. We argue that the Spanish crisis resulted, in...

This paper provides an empirical analysis of nonfinancial corporate debt in six large Latin American countries (Argentina, Brazil, Chile, Colombia, Mexico, and Peru), distinguishing between bond-issuing and non-bond-issuing firms, and assessing the debt's macroeconomic implications. The paper...