The State, the community and society in social development

President Cardoso delivered this address at the First Regional Conference in Follow-up to the World Summit for Social Development, held in Sao Paulo from 6 to 9 April 1997. On that occasion President Cardoso reviewed the issues examined at the World Summit, with special emphasis on poverty and the search for an environmentally sound, democratic form of development that will lead to a greater degree of social equity. Within this context, he discussed the relationship between economic and social factors, devoting particular attention to State reform, education, competitiveness and job creation. He also outlined the situation in Brazil with regard to economic development, education and health services, the neeed for agrarian reform based on the principle of equity, and respect for human rights. In concluding his statement, he stressed the need to overcome the traditional division between community and society and between the public and private spheres. To that end, he called for a re-examination of ethical considerations, not as an empty discussion of morality but rather as an effective means of motivating action for change.

Determinants and home-country effects of FDI outflows: Evidence from Latin American countries

Foreign direct investment (FDI) by Latin American companies has increased sharply since the beginning of the 2000s. While most investment flows correspond to firms from large economies (i.e. Argentina, Brazil, Chile, Mexico and Colombia), small economies have also witnessed the increasing internationalisation of their domestic companies. This study examines the strategies followed by multinational enterprises (MNEs) from Latin America when they decide to invest in other countries, highlighting differences by sector and issuer-country size. To that end a new database, which comprises quantitative information on the main operations abroad of Latin American enterprises (both greenfield, and mergers and acquisitions) was constructed, based on fDi Markets and Thomson Reuters Datastream. It also investigates the home-country effects of outward foreign direct investment (OFDI) by conducting a case study of Costa Rica through a representative sample of firms investing abroad.