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- Volume 1998, Issue 64, 1998
CEPAL Review - Volume 1998, Issue 64, 1998
Volume 1998, Issue 64, 1998
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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Institutions and growth: Can human capital be a link?
Authors: Nauro Campos and Jeffrey B. NugentThis paper attempts to provide a sounder link between institutions and economic growth. It does so by i) identifying those institutions which might matter the most with respect to economic performance, ii) providing a rationale as to why they might matter, and iii) confronting that rationale with some systematic empirical evidence. We postulate that the central and common characteristic of relevant institutions is that they give agents a voice, a stake in the system.
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External capital flows in Latin America and the Caribbean in the 1990s: Experiences and policies
Authors: Gunther Held and Raquel SzalachmanThis article analyses the experiences of a group of Latin American and Caribbean countries with high inflows of external capital in 1992-1996 and places them within the context of the capital movements which have taken place in the region since 1977. Over the last two decades, capital flows to the region have been marked by their great variability: periods of high inflows of capital have alternated with periods of low inflows. In the three-year period 1992-1994, there was a heavy inflow of capital which was concentrated in a few countries, was more volatile because its composition changed in the direction of portfolio investments, and continued to be high in 1995-1996 in some countries.
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Fiscal policy, cycles and growth
Author: Ricardo MartnerIn Latin America, macroeconomic fluctuations have been more frequent and more serious in recent decades than in other parts of the world, and this volatility has adversely affected the development processes of the countries of the region. This article looks at the desirability of establishing economic policy rules, particularly in the fiscal area, to reduce the frequency and size of these imbalances.
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Best practices, policy convergence and the WTO trade-related investment measures
Author: Francisco SercovichInternational experience shows that cost-free replication and adoption of industrial best practices on a universal basis is a misconception. Rather, it is a matter of a progressive and reciprocal adaptation between external and local practices in which learning costs and times are an essential factor. The potential for convergence of policies, practices and institutions triggered by globalization appears to be greater at the macroeconomic than at the microeconomic level. This article first examines such issues in a general way and then focuses on the dilemmas facing the countries of the Association of South East Asian Nations (ASEAN) and other developing countries of Asia in their efforts to comply with the World Trade Organization’s Trade-Related Investment Measures (TRIMS) by the year 2000.
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Possible effects of European Union widening on Latin America
Author: Peter NunnenkampPending widening of the European Union to the East has revived concerns in Latin America that Europe may become more inward-looking. However, booming trade and foreign direct investment relations between current European Union members and Central and Eastern European countries are unlikely to harm Latin America.
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The North-South dimension of the environmental and cleaner technology Industries
Author: Jonathan R. BartonThe environment industry, which includes a wide range of products and services relating to the monitoring, treatment, control and management of industrial and domestic pollution, has grown rapidly during the 1980s and 1990s as a response to environmental regulations. Due to the relatively early application of these regulations in the United States, Europe and Japan, these areas have become competitive producers and exporters of environmental products and services. As the industrial sector has developed, environmental awareness has been raised and competition and international trade in the environment industry have expanded.
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The evolution of the State’s role In the regulation of land transport
Author: Ian ThomsonFor nearly twenty years, the land transport sector of various Latin American countries has been undergoing highly significant institutional changes, both through the participation of the private sector and through the easing of economic regulations, giving rise to new needs for regulation of the market in general and the operating units in particular. The most important changes have taken place in rail and bus transport and in the road transport infrastructure. In the region, these changes took place first of all in Chile and reversed the previous predominance of State intervention associated with a development model which had begun to run out of steam.
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Integrated water management from the perspective of the Dublin Principles
Author: Miguel SolanesThis article analyses the relationship betw een the Dublin Principles of 1992, integrated water planning and water law. The Dublin Principles were an attempt to concisely state the main issues and thrust of water management: fresh water is a finite and vulnerable resource, essential to sustain life, development and the environment; water development and management should be based on a participatory approach, involving users, planners and policy-makers at all levels; women play a central part in the provision, management and safeguarding of water, and water has an economic value in all its competing uses, and should be recognized as an economic good.
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