Diagnosis of constraints on development and on further economic integration

The purpose of the present document is to set forth the diagnosis of infrastructure services in Latin America and the Caribbean carried out by the Infrastructure Services Unit of ECLAC. Although much of the diagnosis presented is applicable to all economic infrastructure services, this document places a strong emphasis on transport infrastructure and services, as their characteristics make them a potential constraint on the region’s economic and social development and on its continuing integration.

Structural constraints and determinants of economic growth in Cuba

Includes bibliography.

Corporate governance in Brazil, Chile, Colombia, Mexico and Peru: The determinants of risk in corporate debt issuance

This study builds on the Corporate governance and development of capital markets in Latin America report published by the Development Bank of Latin America (CAF) and the Economic Commission for Latin America and the Caribbean (ECLAC), which looked at the regulatory framework related to the principles of corporate governance in the region and assessed its contribution to the development of capital markets. This book complements the previous study and is the result of a joint effort by CAF, the Inter- American Development Bank (IDB) and ECLAC to identify the key elements of corporate governance for determining debt instrument issuance risk in potential conflicts of interest arising from relationships among shareholders, executives and bondholders

Financial constraints on economic development: Theory and policy for developing countries

This article contains a theoretical and policy analysis of the financial constraints on economic development in developing countries. Following a Keynesian interpretation, it concludes that financial policies are needed to relieve these constraints, given the natural tendency of financial systems to operate in ways that are dysfunctional to economic development. It then proposes three lines of policy that take account of the special characteristics of developing countries: resource allocation policies targeted at segments of strategic importance for economic and financial development; policies to control financial and external fragility; and compensatory policies of a more interventionist cast, in particular directed credit programmes for both public- and private-sector lending to complement resource allocation policies, and countercyclical regulatory barriers so that fragility can be better controlled.

Latin America and the Caribbean: options to reduce the debt burden

This document contains the Secretariat's considered point of view, as perceived from a Latin American and Caribbean vantage point, on how the debt overhang could be dealt with constructively and consensually. In the absence of better and more equitable management of the problem, it is difficult to see how development can be put back on track in the present decade.