Towards a new international financial architecture: report of the Task Force of the Executive Committee on Economic and Social Affairs of the United Nations, 21 January 1999 = Hacia una nueva arquitectura financiera internacional: informe del Grupo de Trabajo del Comité Ejecutivo de Asuntos Económicos y Sociales de las Naciones Unidas, 21 de enero de 1999

Publicación bilingüe

Finding solutions to the debt problems of developing countries: report of the Executive Committee on Economic and Social Affairs of the United Nations (New York, 20 May 1999)

Includes bibliography

Social dimensions of macroeconomic policy: report of the Executive Committee on Economic and Social Affairs of the United Nations

Introduction The social agenda is long-term in nature, in the sense that poverty alleviation along with a better distribution of income, wealth and opportunities are long-term goals. A sound macroeconomic policy, on the other hand, has to do largely with the consistent management of short-term policy instruments pursuing a sustainable and predictable pace for aggregate economic variables and major prices (wages, inflation, interest rates and exchange rates). In spite of the different arena and rationale in which they play, there are strong links between the two. First and most obvious, macroeconomic adjustment and structural reform are more likely to be sustainable when they are equitable. Second, social intervention —i.e., policies, programmes and reforms aimed at improving social performance in the long run—, needs stable funding which is not always available in view of macroeconomic constraints. Third, macroeconomic instability —especially episodes of recession or hyperinflation— increases poverty and inequality, while restoring macroeconomic equilibrium does not restore previous social balances. Finally, there is no unique macroeconomic policy mix to tackle a given situation, and the policy options may not be neutral from a social standpoint. Monetary, fiscal and exchange rate policies, together with structural reform, have major consequences for the social wellbeing of societies, not only in terms of protection against shocks and crises but also in terms of equity. Many, if not all, of the necessary social policies are of a domestic nature. This report thus concentrates on domestic strategies aimed at maximizing the linkages between consistent macroeconomic policies and social progress. Pursuing them, however, depends to a considerable extent on the international enabling environment in which the global financial system, the unsettled debt crisis and increasing ODA flows play a significant role. Countries operate in a world economy where market players everywhere immediately scrutinize domestic monetary, financial or fiscal policy decisions and the performance of exchange rate regimes of individual countries. Under these conditions, the room for manoeuvre of policymakers has become considerably constrained. Consequently, it is becoming increasingly complex to incorporate the social dimensions into such policy decisions, to the extent that external analysts consider that authorities are sacrificing sound macroeconomic policies. The main message of the report is that the expediency of short-term economic efficiency as embedded in much of the advice on macroeconomic stability needs to be tempered by long-term development objectives. The report starts with a short historical background which describes the ascendancy of macroeconomic policies over social development policies (chapter I). It continues with an evaluation of the relation between macroeconomic consistency and social effort (chapter II), and the importance of sustainable and stable growth for social progress (chapter III). The report then turns to the need for an equity-enhancing growth strategy (chapter IV) and an analysis of the priorities of social policies in an integrated approach to growth (chapter V). The final chapter adds some final institutional remarks.

In memory of Pedro Vuskovic

For those of us who shared many years of friendship and professional collaboration with Pedro Vuskovic, the news of his recent death in Mexico has been the cause of great sorrow, not only because of the circumstances of his death, following a cruel disease that gradually sapped his physical -but not intellectual- strength, but also because it signifies the loss of a great Latin American, of a teacher who helped shape so many generations of young people in our region, and of a companion during so many days of intellectual strivings and political struggle. Pedro joined the Commission in 1950, shortly after its birth as an institution. For nearly 20 years he served it brilliantly in a professional capacity, with his career in ECLAC culminating in the position of Director of the Development Division. He played a crucial role in structuring and disseminating the thinking of ECLAC during a time when the very air teemed with the ideas and concerns of a pleiad of gifted economists and social scientists. These were the post-war years, the 1950s and 1960s, when we all had to "construct" Latin America. Pedro Vuskovic laid many of the bricks in that collective theoretical and political edifice which has been of such importance to the countries of the region. Concurrently, he served as a professor in ECLAC and ILPES training programmes while at the same time teaching classes at the schools of economics and sociology at the University of Chile and the School of Economics at the University of Concepción. When he left ECLAC, Pedro plunged wholeheartedly into the academic world, serving as the Director of the Institute of Economics of the University of Chile, and then went on to claim a position at the forefront of Chilean politics. In November 1970 he was named Minister of Economic Affairs by President Salvador Allende and in June 1972, took over the cabinet-level position of Executive Vice President of the Production Development Corporation (CORFO);, where he served until September 1973. When political events carried him into exile in Mexico, which generously welcomed him as it did so many other Latin Americans who faced similar problems, Pedro carried on his valuable academic work, first at the Economic Research and Teaching Centre (CIDE);, where he directed the Institute of Economic Studies of Latin America, and later at the Centre for Interdisciplinary Research in the Humanities at the National University of Mexico (UNAM);, where he was named to the position of Coordinator for a programme on poverty and development options in various countries of Latin America. Although he will be remembered for his important political role, Pedro's work as a scholar and as an economist deserve special mention. He was a brilliant speaker, at the same time both methodical and incisive, who mastered his subjects with great wisdom and intellectual breadth, and he derived a special joy from being with young people, from providing them with intellectual stimulation and receiving it from them in turn. The many generations of Latin American students who were fortunate enough to have him as a teacher can attest to this. Pedro Vuskovic brought to his work as a researcher and teacher a deep sense of political and social responsibility which moved him to espouse the cause of Latin America 's poor and dispossessed, whose position he had come to understand very early on in his life through the many studies he carried out in this area while at ECLAC. He was tenacious in upholding his ideas and principles, he lived in accordance with them, and he championed them in all the forums open to him, in both the political and academic worlds, to the end of his days. His friends and colleagues also remember his geniality, his sense of humour and great personal warmth -traits which were coupled with an unshakable loyalty to his principles and values. Our farewell is deeply felt; Pedro Vuskovic has left us a legacy of memories and lessons that we will always hold close to our hearts. On behalf of his friends and colleagues, Jacobo Schatan, former Director of the Joint ECLAC/FAO, Agriculture Division

Chile: academic performance and educational management under a rigid employment regime

Includes bibliography

Latin America: school bullying and academic achievement

Includes bibliography

Productivity differences in Brazilian manufacturing firms, by industrial sector: school bullying and academic achievement

Includes bibliography

Inequality and academic achievement in Chile

Includes bibliography

Note by the Secretariat (Request by the Ministry of Foreign Affairs of France, on behalf of the Regional Council of Martinique for admission as an associate member of ECLAC)

Spanish version available

Address by Honourable Basil Ince Minister of External Affairs, Trinidad and Tobago at the inaugural ceremony of the CDCC Seventh Session, Monday 24 January 1983

Discurso del Ministro de Relaciones Exteriores de Trinidad y Tabago en el cual destaca la labor del CDCC como instrumento de los paises del Caribe para articular sus necesidades e intreses y coordinar sus relaciones y actividades para la cooperacion regional.

Address by Honourable D.F. Martina Prime Minister and Minister of General Affairs of the Netherlands Antilles at the inaugural ceremony of the CDCC Seventh Session, Monday 24 January 1983

Discurso del Primer Ministro de las Antillas Holandesas en el cual destaca la labor del CDCC como instrumento de los paises del Caribe para articular sus necesidades e intereses y coordinar sus relaciones y actividades para la cooperacion regional.

Address by Honourable Unison Whiteman Minister of Foreign Affairs, Grenada at the inaugural ceremony of the CDCC Seventh Session, Monday 24 January 1983

Discurso del Ministro de Relaciones Exteriores de Granada en el cual destaca la labor del CDCC como instrumento de los paises del Caribe para articular sus necesidades e intereses y coordinar sus relaciones y actividades para la cooperacion regional.

ECLAC contribution to a preliminary proposal for co-operation in the law of the sea and marine affairs among the states of the zone of peace and co-operation of the South Atlantic

Includes bibliography