Exchange-rate management in Brazil

Includes bibliography

Notas de la CEPAL Nº 24

Crecimiento Económico de América Latina y el Caribe Será Negativo en 2002 Repercusiones Regionales de la Crisis Argentina Media Década Perdida. Columna de opinión de José Antonio Ocampo, Secretario Ejecutivo de la CEPAL Precisiones: Invertir en el Desarrollo Sostenible Indicadores Participación de las Mujeres en la Reforma del Estado Publicaciones recientes y calendario de eventos

Notas de la CEPAL Nº 21

Mejora Confianza Mutua y Transparencia del Gasto en Defensa entre Chile y Argentina La Educación y el Mercado del Trabajo: Latinoamérica Se Queda Atrás Columna de Opinión del Secretario Ejecutivo de la CEPAL, José Antonio Ocampo: Las Lecciones de la Crisis Argentina Precisiones. Inversión y Volatilidad Financiera: América Latina en los Inicios del Nuevo Milenio Indicadores Es el Momento de Crear la Organización Mundial del Medio Ambiente Indice de publicaciones recientes Calendario de actividades

Revista de la CEPAL no.88

Vigencia de los aportes de Celso Furtado al estructuralismo / Ricardo Bielschowsky. -- Obsolescencia de la protección a los inversores extranjeros después de la crisis argentina / Michael Mortimore y Leonardo Stanley. -- Una aproximación al enfoque de derechos en las estrategias y políticas de desarrollo / Víctor Abramovich. -- ¿Pueden los países de América Latina y el Caribe emular el modelo irlandés para atraer inversión extranjera directa? / Ruth Ríos-Morales y David O ’Donovan. -- El lento retorno de las políticas industriales en América Latina y el Caribe / Wilson Peres. -- Un modelo de bajo crecimiento: la informalidad como restricción structural / Mario Cimoli, Annalisa Primi y Maurizio Pugno. -- El mercado de trabajo argentino en la globalización financier / Mario Damill y Roberto Frenkel. -- Precariedad social en México y Argentina: tendencias, expresiones y trayectorias nacionales / María Cristina Bayón. -- Pacto Fiscal en Guatemala: lecciones de una negociación / Juan Alberto Fuentes K. y Maynor Cabrera. -- Cambio de la estructura productiva en Chile, 1986-1996: producción e interdependencia industrial / José Miguel Albala-Bertrand. -- Orientaciones para los colaboradores de la Revista de la CEPAL. -- La Revista de la CEPAL en Internet. -- Publicaciones recientes de la CEPAL.

The employment situation in Latin America and the Caribbean: Countercyclical policies for a sustained recovery in employment

Latin America and the Caribbean experienced an unexpectedly vigorous economic recovery in 2010 after the output contraction of 2009. This upturn was reflected in the region’s employment and unemployment rates, which resumed the positive trends that had been broken by the crisis, and formal wages rose slightly. The strength of the recovery and labour-market performance varied markedly across subregions and countries, however. The first part of this joint ECLAC/ILO publication on the employment situation in Latin America and the Caribbean looks at how labour markets have responded to the rapid economic upswing in 2010 and early 2011, highlighting both the significant advances achieved in the post-crisis period and the sharp differences evident across subregions and countries. As well as tapping into the improved external conditions which followed upon the Asianled global economic upturn, several Latin American countries were also able to contain the impacts of the crisis and underpin their own recovery with countercyclical policies, thanks to the leeway gained by their macroeconomic management during the run of growth from 2003 to 2008. These countries were in a position to implement expansionary fiscal and monetary policies, some of which channelled higher fiscal spending through labour-market policies or softened the impact of the crisis on employment and income, as discussed in previous ECLAC/ILO bulletins. Since the region is fairly new to the use of countercyclical policies, the second part of this document reviews the experiences arising from those policies and considers lessons for institutionalizing them. Economic growth in the Latin American and Caribbean region has historically been marked by the volatility of its economic cycles, with high-growth periods being succeeded by deep crises. Volatility has conspired against the use of production resources over extended periods and short growth horizons have impeded investment in capital and labour. In the recent international crisis, the deployment of countercyclical macroeconomic policy helped to reduce the depth and duration of the impact and to leverage a more rapid recovery. It is therefore worth looking at the fundamentals of a long-term countercyclical macroeconomic policy which would provide the tools needed to deal with future crises and pave the way for economic growth that may be sustained over time. A special factor during this crisis was that a greater effort was made to support employment and income. Several of the labour-market policy measures taken acted as vehicles for conveying increased fiscal spending to individuals, reflecting greater consideration for equality concerns. Indeed, these measures were aimed not only at stabilizing andstrengthening domestic demand per se, but also at preventing the crisis from hitting lowest-income households the hardest, as had occurred in previous episodes. And —again unlike the pattern seen in previous episodes— inflation actually fell during the crisis as the high food and fuel prices seen in the run-up to it eased as a result of both existing macroeconomic policies and global conditions. This averted the surge in inequality so often seen in previous crises. Two caveats must be added, however. First, not all the countries were in a position to deploy strong countercyclical policies. Many simply lacked the fiscal space to do so. Second, some countries took this sort of measure more as an ad hoc response to the crisis than as part of a clearly established countercyclical policy strategy. The challenge, then, is to institutionalize a countercyclical approach throughout the economic cycle. Taking up this challenge is part of making economic growth more sustainable. This year —2011— was ushered in by rapid economic growth and substantial improvements in labour indicators. With the region’s GDP projected to grow well over 4% this year, ECLAC and ILO estimate that the regional unemployment rate will fall substantially again, from 7.3% in 2010 to between 6.7% and 7.0% in 2011.

Access to international capital markets: recent developments in Central America and the Caribbean

The objective of this report is to analyze the impact of recent global financial trends on the access to private external financing by Central American and Caribbean (CAC) economies, as well as their performance in international capital markets in recent years. The CAC economies, like many other countries in the world, were not immune to the negative consequences of the global economic and financial crisis of 2008. In fact, their openness, export driven growth and linkages to advanced economies, particularly to the U.S., as well as size, made them more vulnerable than other Latin American countries to the negative effects of the crisis. In addition, their recovery was hindered by their weak linkages to the larger emerging market countries that drove global growth in the post-crisis recovery. As China and other emerging market economies begin to slowdown, however, and the U.S. and other advanced economies show signs of a strengthening recovery, the linkages to advanced economies may once again become a source of strength.

Inversión extranjera directa en la Argentina: crisis, reestructuración y nuevas tendencias después de la convertibilidad

Incluye Bibliografía

Inversión extranjera directa en la Argentina. Crisis, reestructuración y nuevas tendencias después de la convertibilidad

Incluye Bibliografía

La innovación en la Argentina post-devaluación. Antecedentes previos y tendencias a futuro

Incluye Bibliografía

Presupuestar en Argentina, antes y después de la crisis de la deuda pública: enseñanzas, posibilidades y recomendaciones

Incluye Bibliografía

La Argentina ante la nueva internacionalización de la producción: crisis y oportunidades

Incluye Bibliografía

Argentina, de la crisis a la cohesión social

Incluye Bibliografía

Crisis, recuperación y nuevos dilemas. La economía argentina 2002-2007

Incluye Bibliografía

Buscando la tendencia: crisis macroeconómica y recuperación en la Argentina

Incluye Bibliografía

Crisis de la industria del gas natural en Argentina

Incluye Bibliografía