Network for Cooperation in Integrated Water Resource Management for Sustainable Development in Latin America and the Caribbean No. 38

Editorial remarks.-- Open discussion: Using performance indicators to monitor drinking water supply and sewerage services ; Implications of biofuel development for water management and use.-- News of the Network: Reflections of URSEA in Uruguay, 10 years after its creation ; National Environmental Sanitation Strategy of El Salvador.-- Meetings: Workshop on Transboundary Water Cooperation (Buenos Aires, Argentina) ; Importance of the value of water: lessons and challenges (Lima, Peru).-- Internet and WWW News

Network for Cooperation in Integrated Water Resource Management for Sustainable Development in Latin America and the Caribbean No. 40

Editorial remarks.-- Open discussion: Regulation under the public model of service provision ; Regulatory progress and challenges in Argentina ; Twenty years of SUNASS: development, experience, lessons learned and challenges ; Possible conflict between efficiency and sustainability ; Best practices in regulating State-owned and municipal water utilities.-- News of the Network: Water use charge in the Province of Buenos Aires ; National Drinking Water and Sanitation Sector Policy of Guatemala ; Sanitation Services Modernization Law of Peru ; Internet and WWW News

Understanding the business cycle in Latin America: Prebisch's contributions

Includes bibliography

Weak expansions: a distinctive feature of the business cycle in Latin America and the Caribbean

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 importantly, its expansion performance is shorter and for the most par less imtense than that of the rest of the regions considered, and in particular than that of East Asia and the Pacific, East Asia and the Pacific's expansions last five years longer than those of LAC, and its output gain is 50% greater than that of LAC. Second, LAC tends to exhibit contractions that are not significantly different in terms of duration and amplitude than t those of other regions. Both these features imply that the complete Latin American and Caribbean cycle has, overall, the shortest duration and smallest amplitude in relation to other regions. The specificities of the Latin American and Caribbean cycle are not confined to the short run. These are also reflected in variables such as productivity and investment, which are linked to long-run growth. East Asia and the Pacific's cumulative gain in labor productivity during the expansionary phase is twice that of LAC. Moreover, the evidence also shows that the effects of the contraction in public investment surpass those of the expansion leading to a declining trend over the entire cycle. In this sense we suggest that policy analysis needs to increase its focus on the expansionary phase of the cycle. Improving our knowledge of the differences in the expansionary dynamics of countries and regions, can further our understanding of the differences in their rates of growth and levels of development. We also suggest that while, the management of the cycle affects the short-run fluctuations of economic activity and hence volatility, it is not trend neutral. Hence, the effects of aggregate demand management policies may be more persistent over time and less transitory than currently thought.

Portrait of the economist as a young man: Raúl Prebisch's evolving views on the business cycle and money, 1919-1949

Includes bibliography