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- Volume 1997, Issue 63, 1997
CEPAL Review - Volume 1997, Issue 63, 1997
Volume 1997, Issue 63, 1997
Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of reforms and transfer of technology. Written in English and Spanish (Revista De La Cepal), each tri-annual issue brings you approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.
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The public sector’s role In Latin American development
Author: Ricardo CarciofiThe public sector’s role in the development of the Latin American countries is undergoing a big change. The system of State action and intervention which arose after the Second World War cam e to an end in the early 1980s, when the debt crisis forced the end of a cycle and the beginning of a process of adaptation to new circumstances. This article seeks to outline the main changes that have taken place in the State’s role and to analyse the causes giving rise to the public sector’s new operating model. The availability and reactions of the financial markets were of decisive importance both in the external adjustment process and in the phase that followed it, when the region regained its access to credit.
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Equity in the public budget
Author: Juan MartinThis article aims to make a “walk-through” in the virtual reality of budgetary and fiscal matters in order to identify the possible leew ay for achieving a higher level of convergence betw een the public discourse on equity and the real content of public policies aimed at that goal.
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Pension system reforms, the capital market and saving
Author: Andras Uthoff B.Pension system reforms seek to combine and reconcile both economic and social functions. On the basis of both conceptual aspects and the actual experience of Chile, this article illustrates the difficulties encountered in trying to make reforms fulfill both types of functions. These difficulties stem from two factors: i) the need to consider the reform of the pension system as a whole, where, parallel with the capitalization component, it is necessary to develop another unfunded component to finance the costs of the transition from one pension system to another, minimum pensions, and social welfare pensions; and ii) the need to distinguish between financial saving and real saving (or national saving in the national accounts sense) and to study the financial sector’s capacity to intermediate financial saving towards real investment. The Chilean experience confirms this view.
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Public institutions and explicit and implicit environmental policies
Author: Nicolo GligoIn recent years the question of the environment has been increasingly prominent in studies and proposals on the development of the Latin American and Caribbean countries. The serious processes of ecological imbalance in the world, together with numerous disasters and the ongoing loss of natural resources, have given rise to increasing concern over these matters. To a greater or lesser extent, all the governments of the region have tried to strengthen their environmental policies through various legal, technical, institutional and economic measures. Much still needs to be done, however, to correct the existing deficits and ensure that the new measures applied are really efficient and effective.
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Non-market valuation of natural and environmental resources in Central America and the Caribbean
Author: Steve ShultzAn inventory and assessment was made of 15 non-market valuation studies in Central American and Caribbean countries. Most utilized the contingent valuation method to determine willingness to pay for drinking water or protected areas. The method used suffered from a reliance on open-ended bidding, information framing and contingent scenarios lacking detail, limited population samples, and possible cultural-strategic biases associated with surveying local residents. Problems observed with respect to the single travel cost method study reviewed were a reliance on poor quality census data rather than visitor survey data, and unrealistic assumptions regarding transportation cost estimates, single-destination visitors, and consumer surplus levels of international visitors.
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An integrated macro-model for the Caribbean subregion
Author: Lucio Vinhas de SouzaThe objective of this paper is to calculate a simple integrated macro-model for the Caribbean subregion. Using a homogeneous data set that runs from 1980 to 1991 for a sample of 12 countries in the subregion and a fairly simple model with non-controversial specifications for the structural relationships, we generate a representative and consistent group of estimates for a given set of parameters in pooled and individual country estimations.
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Swerves and skids by the Venezuelan economy
Author: José Miguel BenaventeNow that the neoliberal economic model, under whose sway Latin America is seeing out the present millennium, has been in force for several years, this is a particularly good time to take stock of the experience accumulated so far. Economists normally set about this task by breaking down and analysing the characteristics and components of the programmes applied in the various countries. An aspect which is often neglected in these assessments, however, is that of the social and political viability of the measures adopted, which does not only depend on their technical merits.
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How non-traditional are non-traditional exports? The experience of seven countries of the Caribbean Basin
Author: Alberto GabrieleIn the six Central American countries -C osta Rica, El Salvador, Guatemala, Honduras and Nicaragua, which make up the Central American Common Market, and Panam a- non-traditional exports increased in the 1970s, went down between 1980 and 1986 because o f macroeconomic imbalances, armed conflicts and the crisis in the Central American Comm on Market, but grew once again in the second half o f the 1980s and the early 1990s.
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Trade openness and structural change in the Brazilian motor industry
This article aims to classify and analyse the evidence of structural change in the Brazilian motor industry between 1990 and 1996, seeking to relate it with the economic policy measures which had m ost im pact on the sector. The study begins by examining the explosive increase in domestic demand for motor vehicles, its determining factors, and its main implications, especially the achievement of efficient scales of production and the initiation of a wave o f investments which has been further intensified in the last three years.
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The ongoing history of a Chilean metal products and machinery firm
Authors: Jorge Katz and Héctor VeraProcesses of adjustm ent and restructuring of the production sectors to a new system of macroeconom ic incentives are slow, costly and more inefficient than conventional microeconomic theory would lead one to suppose. In this article, the authors explore the process of the restructuring of production of a Chilean metal products and machinery company and the way it gradually modified its operations from the 1970s onw ards, adapting them to new macroeconomic and mesoeconomic signals. As is well known, in the last two decades the system of incentives and the regulatory framework for production activities in Chile have undergone profound changes, gradually moving -with advances but also setbacks-tow ards an organizational model more open to external competition, more deregulated, and with less public sector participation in the field of production proper.
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The importance of local production and small-scale enterprises for Latin American development
Author: Francisco AlburquerqueThe generation of dynamic competitive advantages in Latin America and the Caribbean cannot be assumed to result automatically from the achievement of the necessary macroeconomic stability and the incorporation of part of the system of production into some dynamic segments (or niches) of the international economy. Recent empirical information on local economic development initiatives in the developed countries indicates that macroeconomic adjustment policies must be accompanied by other specific policies at the microeconomic and mesoeconomic levels.
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