Stock return comovements and integration within the Latin American integrated market

Financial integration has been pursued aggressively across the globe in the last fifty years; however, there is no conclusive evidence on the diversification gains (or losses) of such efforts. These gains (or losses) are related to the degree of comovements and synchronization among increasingly integrated global markets. We quantify the degree of comovements within the integrated Latin American market (MILA). We use dynamic correlation models to quantify comovements across securities as well as a direct integration measure. Our results show an increase in comovements when we look at the country indexes, however, the increase in the trend of correlation is previous to the institutional efforts to establish an integrated market in the region. On the other hand, when we look at sector indexes and an integration measure, we find a decreased in comovements among a representative sample of securities form the integrated market.

Latin American critical (‘Social’) epidemiology: new settings for an old dream

The present paper offers a fresh perspective from the South about the relevance of progressive Latin American public health (termed ‘collective health’) by highlighting a number of its hard scientific contributions which, unfortunately, remain almost unknown to mainstream medical and public health researchers outside Latin America. An armed form of structural greed has now placed the world on the brink of destruction. At the same time, however, fresh winds blow in the continent. This paper is an invitation to confront the menacing forces producing our unhealthy societies and an opportunity to form fraternal partnerships on the intercultural road to a better world, where only an epidemiology of dignity and happiness will make sense.

Analysis of the economic and financial relations between Latin American and the Caribbean and the BRICS group

This document has been prepared in compliance with Activity III.1.2 of the Work Programme of SELA for the year 2015, entitled “Analysis of the economic and financial relations between Latin America and the Caribbean and the BRICS countries”. The document comprises an introduction, four chapters and a final section with the conclusions and recommendations stemming from the study. Chapter I describes the economic performance of the BRICS countries, their economic relations with Latin America and the Caribbean and the functioning of the development banks of the member countries. Chapter II assesses the financial architecture of Latin America and the Caribbean and explores the needs for financing in the region. Chapter III deals with the regulatory frameworks governing public and private investments in Latin America and the Caribbean and the Bilateral Investment Treaties with the BRICS countries. Finally, Chapter IV describes the main features of the New Development Bank (NDB) and the Contingent Reserve Agreement of the BRICS

Globalization and development: a Latin American and Caribbean perspective

Incluye Bibliografía

Debt financing rollercoaster: Latin American and Caribbean access to international bond markets since the debt crisis, 1982-2012

Includes bibliography

The Latin American Pacific Basin initiative and the Asia-Pacific region

Includes bibliography

Barriers to Latin American and Caribbean exports in the US market, 1998-1999

Includes bibliography

Monitoring eLAC2007: progress and current state of development of Latin American and Caribbean information societies

Includes bibliography

Patterns of penetration of ICT goods and services in Latin American and Caribbean households: analysis based on data from national population and housing censuses, round 2000

Includes bibliography

Cooperation on competition policy in Latin American and Caribbean bilateral trade agreements

Incluye Bibliografía

The new era of carbon accounting: issues and implications for Latin American and Caribbean exports

Includes Bibliography

Bilateralism and regionalism: re-establishing the primacy of multilateralism a Latin American and Caribbean perspective

Includes bibliography

Quality of Latin American and Caribbean industrialization and integration into the global economy

Includes bibliography

Urban consensus: contributions from the Latin American and the Caribbean Regional Plan of Action on Human Settlements

Includes bibliography