OUTPUT GROWTH AND STRUCTURAL REFORM IN LATIN AMERICA: HAVE BUSINESS CYCLES CHANGED?

2016 ◽  
Vol 35 (1) ◽  
pp. 62-75
Author(s):  
Sebastian Fossati
Keyword(s):  
Latin America ◽  
Business Cycles ◽  
Output Growth ◽  
Structural Reform

scholarly journals Monetary integration issues in Latin America: A multivariate assessment

2008 ◽  
Vol 55 (3) ◽  
pp. 279-308
Author(s):  
Jean-Pierre Allegret ◽  
Alain Sand-Zantman
Keyword(s):  
Latin America ◽  
Exchange Rate ◽  
Business Cycles ◽  
Latin American ◽  
Monetary Union ◽  
Monetary Integration ◽  
Integration Process ◽  
Common Shocks ◽  
The Impact ◽  
Latin American Countries

This paper assesses the monetary consequences of the Latin-American integration process. Over the period 1991-2007, we analyze a sample of five Latin-American countries focusing on the feasibility of a monetary union between L.A. economies. To this end, we study the issue of business cycle synchronization with the occurrence of common shocks. First, we assess the international disturbances influence on the domestic business cycles. Second, we analyze the impact of the adoption of different exchange rate regimes on the countries' responses to shocks. .

Are Asian Business Cycles Different?

2013 ◽  
Vol 12 (3) ◽  
pp. 94-113 ◽  
Author(s):  
Yongseung Jung ◽  
Soyoung Kim ◽  
Doo Yong Yang ◽  
Tack Yun
Keyword(s):  
Latin America ◽  
Business Cycles ◽  
Durable Goods ◽  
Emerging Economy ◽  
Transmission Mechanism ◽  
Transmission Mechanisms ◽  
Net Exports ◽  
Standard Models ◽  
Key Features

This paper studies the unusual features of emerging economy business cycles in Asia. When we assess whether approaches from the previous literature can explain Asian business cycles, we conclude that standard models based on permanent growth shocks do not replicate key features of Asian business cycles. The evidence suggests that different transmission mechanisms explain the connections between consumption, net exports, and export or import in Latin America and Asia. For evidence of a special transmission mechanism, we study durable goods business cycles in Asia (Korea), noting that strong pro-cyclical durable goods consumption may be explained by the export-income channel coupled with market laddering by which firms have expanded the variety and quality of their durable goods production.

scholarly journals Business cycles, international trade and capital flows: evidence from Latin America

2015 ◽  
Vol 50 (2) ◽  
pp. 231-252 ◽  
Author(s):  
Guglielmo Maria Caporale ◽  
Alessandro Girardi
Keyword(s):  
Latin America ◽  
International Trade ◽  
Business Cycles ◽  
Capital Flows

scholarly journals China's Emergence in the World Economy and Business Cycles in Latin America

Economía ◽  
2012 ◽  
Vol 12 (2) ◽  
pp. 1-75 ◽  
Author(s):  
Ambrogio Cesa-Bianchi ◽  
M. Hashem Pesaran ◽  
Alessandro Rebucci ◽  
TengTeng Xu
Keyword(s):  
Latin America ◽  
Business Cycles ◽  
World Economy ◽  
The World

Democracy, Markets, and Structural Reform in Latin America: Argentina, Bolivia, Brazil, Chile, and Mexico.

1995 ◽  
Vol 24 (5) ◽  
pp. 645
Author(s):  
Eduardo R. Gomes ◽  
William C. Smith ◽  
Carlos H. Acuna ◽  
Eduardo A. Gamarra
Keyword(s):  
Latin America ◽  
Structural Reform

scholarly journals Economic Growth Creation Or Diversion? The Record of Trade Agreements In Latin America

1970 ◽  
Vol 27 (1) ◽  
pp. 93-122
Author(s):  
Gustavo Barboza ◽  
Sandra Trejos
Keyword(s):  
Economic Growth ◽  
Latin America ◽  
Labor Force ◽  
Trade Openness ◽  
Trade Agreements ◽  
Output Growth ◽  
Preferential Trade Agreements ◽  
Preferential Trade ◽  
Positive Effect ◽  
Capita Output

This paper examines the effects of Preferential Trade Agreements (PTAs) andGATT/WTO membership on economic growth using a sample of seventeen LatinAmerican countries for the period 1950-2004. In general, the evidence indicatesthat the proliferation of bilateral and multi country regional and extra regional tradeagreements has not resulted in faster economic growth. On the contrary, we find thatPTAs and WTO only have a weak positive effect on increasing trade openness; butthis relationship does not translate into faster economic growth when controlling forcapital, labor force and trade openness. These results are robust to both static anddynamic model specifications, indicating that trade openness has a positive effect onper capita output growth, but PTA and WTO membership do not. Integration via defacto increases output growth while integration via de jure does not. Based on theresults, PTAs create a net diversion effect on economic growth.

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