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.

The return of "vulnerability" and Raul Prebisch's early thinking on the "Argentine business cycle"

Includes bibliography

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

Includes bibliography

The maritime cycle and the post-crisis ups and downs

This edition of the FAL Bulletin analyses the maritime cycle and its impact on the overall business cycle. In particular, it considers the financial and economic crisis which shook the world from 2008 onwards, affecting both world trade and levels of economic activity, with serious consequences for maritime transport.

Economic Survey of Latin America and the Caribbean 2015: Challenges in boosting the investment cycle to reinvigorate growth

The 2015 edition of the Economic Survey of Latin America and the Caribbean consists of three parts. Part I outlines the region’s economic performance in 2014 and analyses trends in the first half of 2015, as well as the outlook for the rest of the year. Part II analyses the dynamics of investment in Latin America and the Caribbean, the relationship between investment and the business cycle, the role of public investment, infrastructure gaps and the challenges in financing private investment. Part III of this publication may be accessed on the web page of the Economic Commission for Latin America and the Caribbean (http://www.cepal.org/en/node/33006). It contains the notes relating to the economic performance of the countries of Latin America and the Caribbean in 2014 and the first half of 2015, together with their respective statistical annexes, which present the main economic indicators of the countries of the region. The cut-off date for updating the statistical information in this publication was 30 June 2015.

Social Panorama of Latin America 2005

Includes bibliography

International asymmetries and the design of the International Financial System

Includes bibliography

The dynamic of employment in Chilean industry

Includes bibliography

Productive structure and the functional distribution of income: an application of the input-output model

Includes bibliography

Foreign Direct Investment in Latin America and the Caribbean 2009

Includes bibliography.

Social Panorama of Latin America 2015. Briefing paper

The 2015 edition of Social Panorama of Latin America analyses poverty trends, as measured by ECLAC. It also examines changes in income distribution and in other aspects of inequality. With a view to contributing to the development of public policies to overcome poverty and socioeconomic inequality, this edition examines the latest trends in social spending and the challenges posed by demographic change, and provides in-depth analysis of persistent gaps in the labour market, of the challenges facing policies and programmes that foster inclusion in the labour market and production, and of social development institutions in Latin America.

CEPAL Review no. 118

Special issue: 40 years of CEPAL Review

Innovation and technology policy (ITP) for catching up: a three phase life cycle framework for industrializing economies

Includes bibliography