Growth, structural change and technological capabilities Latin America in a comparative perspective

Countries differ in terms of technological capabilities and complexity of production structures. According to that, countries may follow different development strategies: one based on extracting rents from abundant endowments, such as labor or natural resources, and the other focused on creating rents through intangibles, basically innovation and knowledge accumulation. The present article studies international convergence and divergence, linking structural change with trade and growth through a North South Ricardian model. The analysis focuses on the asymmetries between Latin America and mature and catching up economies. Empirical evidence supports that a shift in the composition of the production structure in favor of R&D intensive sectors allows achieving higher rates of growth in the long term and increases the capacity to respond to demand changes. A virtuous export-led growth requires laggard countries to reduce the technological gap with respect to more advanced ones. Hence, abundance of factor endowments requires to be matched with technological capabilities development for countries to converge in the long term.

Country factors and the dynamic modeling of capital structure : an empirical study of latin american firms

Desenvolvemos modelos de ajuste parcial e de duration para testar a relevância de fatores específicos de países na determinação da estrutura de capital de empresas listadas nas bolsas de valores brasileira, chilena e mexicana. Utilizamos dados em painel, em um período que se estende do quarto trimestre de 1996 ao segundo trimestre de 2010, abrangendo 4403 observações relacionadas a 139 empresas diferentes. Os resultados obtidos sugerem que a dinâmica da estrutura de capital varia por país e que idiossincrasias locais são determinantes-chave dos níveis de alavancagem das empresas. Não detectamos comportamento explicado pela Teoria de Trade Off entre as empresas brasileiras, chilenas e mexicanas, o que indica que teorias alternativas possam comandar os processos de decisão de financiamento dos gestores latino americanos.

Common factors in Latin America's business cycles

This paper constructs new business cycle indices for Argentina, Brazil, Chile, and Mexico based on common dynamic factors extracted from a comprehensive set of sectoral output, external trade, fiscal and financial variables. The analysis spans the 135 years since the insertion of these economies into the global economy in the 1870s. The constructed indices are used to derive a business cyc1e chronology for these countries and characterize a set of new stylized facts. In particular, we show that ali four countries have historically displayed a striking combination of high business cyc1e volatility and persistence relative to advanced country benchmarks. Volatility changed considerably over time, however, being very high during early formative decades through the Great Depression, and again during the 1970s and ear1y 1980s, before declining sharply in three of the four countries. We also identify a sizeable common factor across the four economies which variance decompositions ascribe mostly to foreign interest rates and shocks to commodity terms of trade.

Territorial hypothesis predicts the trade-off between reproductive opportunities and parental care in three species of damselfishes (Pomacentridae: Actinopterygii)

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Anuario estadístico de América Latina y el Caribe, 1986 = Statistical yearbook for Latin America and the Caribbean, 1986

Publicado en junio de 1987

Anuario estadístico de América Latina y el Caribe, 1987 = Statistical yearbook for Latin America and the Caribbean, 1987

Incluye Bibliografía

Anuario estadístico de América Latina y el Caribe, 1989 = Statistical yearbook for Latin America and the Caribbean, 1989

Incluye Bibliografía

Anuario estadístico de América Latina, 1983 = Statistical yearbook for Latin America, 1983

Publicado en junio de 1984

Boletín estadístico de América Latina, febrero 1967 = Statistical bulletin for Latin America, February 1967

Incluye Bibliografía

Boletín estadístico de América Latina, septiembre 1966 = Statistical bulletin for Latin America, September 1966

Incluye Bibliografía

Boletín estadístico de América Latina, marzo 1964 = Statistical bulletin for Latin America, March 1964

Incluye Bibliografía

Boletín estadístico de América Latina, marzo 1969 = Statistical bulletin for Latin America, March 1969

Incluye Bibliografía

Boletín estadístico de América Latina, septiembre 1968 = Statistical bulletin for Latin America, September 1968

Incluye Bibliografía

Preliminary Overview of the Economies of Latin America and the Caribbean 1999

Includes bibliography

Preliminary Overview of the Economies of Latin America and the Caribbean 2001

Includes bibliography