A Different Perspective for the Financial Crisis in Latin America and the Caribbean

1985 ◽  
Vol 27 (4) ◽  
pp. 9-20 ◽  
Author(s):  
João Clemente Baena Soares
Keyword(s):  
Financial Crisis ◽  
Latin American ◽  
External Debt ◽  
Central American ◽  
South American ◽  
External Financing ◽  
Entire Region ◽  
Goods And Services ◽  
The Caribbean ◽  
Interest Payments

The Latin American and Caribbean countries are facing a serious financial crisis. External debt in the region is over $360 billion, and seven South American countries are among the ten largest debtors in the world. Interest payments alone required, in the years of 1982, 1983, and 1984, more than 35% of total regional exports of goods and services, a percentage which reached the extreme level of over 50% for one country. To be sure, this problem mostly affects the largest economies, since most of the Central American and Caribbean countries apply to interest payments less than 20% of their exports. The debt problem is a reality for the entire region, and it makes it difficult for all the countries to obtain new external financing.

The Theory and Practice of Founding Regional Courts in Latin America and the Caribbean

2020 ◽  
pp. 96-121
Author(s):  
Salvatore Caserta
Keyword(s):  
Latin America ◽  
Latin American ◽  
Theory And Practice ◽  
Central American ◽  
Central Importance ◽  
Regional Economic ◽  
Court Of Justice ◽  
The Caribbean ◽  
Caribbean Court Of Justice

This chapter compares the foundations of the Central American Court of Justice (CACJ) and the Caribbean Court of Justice (CCJ) with those of the Andean Tribunal of Justice (ATJ) and of the Mercosur Permanent Review Court (PRC). The goal is to provide general considerations related to the actors and factors that may be deemed of central importance for founding regional courts, and to confirm the value of the approach taken in this book. Similar to those of the CACJ and CCJ, the foundations of the ATJ and of the Mercosur PRC also extended over relatively long periods of time and were finally unlocked by the occurrence of events that were only partially and indirectly related to the two Courts. Against this background, the chapter draws general theoretical conclusions on the foundations of Regional Economic Courts (RECs) in Latin American and the Caribbean.

The Debt Cycle in Latin America

1985 ◽  
Vol 27 (4) ◽  
pp. 117-124 ◽  
Author(s):  
Robert Z. Aliber
Keyword(s):  
Latin America ◽  
Foreign Exchange ◽  
Latin American ◽  
External Debt ◽  
Economic Cost ◽  
Adjustment Process ◽  
Annual Increase ◽  
Exchange Value ◽  
Cash Inflow ◽  
Interest Payments

Changes in the volume of new loans issued by the developing countries in Latin America have had a significant impact on the foreign exchange value of their currencies, and on most of their domestic macroeconomic variables. During the 1972-82 decade, the annual increase in external debt of many of these countries exceeded the interest payments on this debt. The result was a net cash inflow derived from the sale of new loans abroad. Consequently, at the time, no real economic cost was associated with this increase in external debt. After 1982 this situation changed. The annual increase in external debt diminished to the point where it was less than the scheduled interest payments. At that point Latin American borrowers began to experience a net cash outflow on their debt account. Thus, in order to generate the foreign exchange needed to pay even part of these scheduled interest charges, the economy had to undergo a costly adjustment process.

Sport in Latin America

2017 ◽  
Author(s):  
Brenda Elsey
Keyword(s):  
Latin America ◽  
Civil Rights ◽  
Dominican Republic ◽  
Latin American ◽  
Racial Diversity ◽  
South American ◽  
Local Conditions ◽  
The Caribbean ◽  
Racial Hierarchies ◽  
Generally True

Sport forms existed in Latin American in the pre-Columbian period. European empires adopted and modified indigenous cultural activities while introducing new sports. Sport development was not homogenous as local conditions and specific colonial and commercial interests shaped sport’s growth. Despite these disparate patterns of development, it is generally true that the rise in nationalism facilitated the diffusion of sport in Latin America, as local associations formed in response to invitations sent by sportsmen from abroad-seeking competitors. Football enjoyed the most expansive growth in South American, while baseball grew in the Caribbean in Cuba and the Dominican Republic. Women’s access to sport has been a persistent issue in Latin America. The racial diversity of the region also has created an ongoing negotiation of racial hierarchies in sport. Sport in Latin American serves as an arena where participants perform citizenship and create understandings of civil rights.

scholarly journals Impacts Of The 2008 Financial Crisis On South American Equity Markets

2014 ◽  
Vol 13 (3) ◽  
pp. 573
Author(s):  
Jae-Kwang Hwang ◽  
Young Dimkpah ◽  
Alex I. Ogwu
Keyword(s):  
Financial Crisis ◽  
Stock Returns ◽  
Latin American ◽  
Stock Markets ◽  
Financial Integration ◽  
South American ◽  
2008 Financial Crisis ◽  
International Portfolio Diversification ◽  
The 2008 Financial Crisis ◽  
Us Financial Crisis

This paper examines the transmission of the 2008 US financial crisis to four Latin American stock markets using daily stock returns from 2006 to 2009, analyzing returns before and during the 2008 financial crisis. The empirical evidence presents a financial integration by showing persistently higher volatility during the crisis period. This indicates that most of the stock markets in this study were severely hit by the US financial crisis. However, the evidence shows that Chile was less impacted by the 2008 financial crisis. The results here could be useful in international portfolio diversification decision-making in South American region.

scholarly journals TRANSPORTATION ROUTES FOR LATIN AMERICAN PRODUCE IMPORTS INTO THE UNITED STATES

HortScience ◽  
1992 ◽  
Vol 27 (6) ◽  
pp. 609a-609
Author(s):  
David H. Picha ◽  
Roger A. Hinson
Keyword(s):  
Latin American ◽  
Fruits And Vegetables ◽  
Cost Savings ◽  
The United States ◽  
South Florida ◽  
Central American ◽  
South American ◽  
Significant Cost ◽  
Trade Routes ◽  
Transportation Routes

The origin and distribution of counter-seasonal fresh fruit and vegetable imports from Latin America into the U.S. was evaluated. Infrastructure comparisons were made among various U.S. ports of entry capable of receiving perishables. Economic comparisons were made utilizing different transportation routes. Market boundary analyses indicated significant cost savings would result from changing existing transportation routes to certain final U.S. destinations. Currently the port of Philadelphia receives the majority of South American fruit which is mostly shipped break bulk or palletized. South Florida ports (Miami and Port Everglades) receive the majority of Central American and Caribbean fruits and vegetables which are mostly shipped containerized. Interest exists among Latin American exporters to diversify their U.S. ports of entry in order to avoid distribution bottlenecks. Future trade routes will likely see an increased utilization of more economical U.S. Gulf of Mexico ports.

scholarly journals Trinidad Spanish: implications for Afro-Hispanic language

1990 ◽  
Vol 64 (1-2) ◽  
pp. 7-27 ◽  
Author(s):  
John M. Lipski
Keyword(s):  
Puerto Rico ◽  
Latin American ◽  
Spanish Language ◽  
Spanish America ◽  
Caribbean Region ◽  
South American ◽  
Language Usage ◽  
African Slave ◽  
The Subject ◽  
The Caribbean

[First paragraph]The question of Spanish language usage among African-born slaves (known as bozales) and their descendents in Spanish America is the subject of much controversy, and has had a major impact on theories of Creole formation and the evolution of Latin American dialects of Spanish, Portuguese and French. Briefly, one school of thought maintains that, at least during the last 150-200 years of African slave trade to Spanish America, bozales and their immediate descendants spoke a relatively uniform Spanish pidgin or creole, concentrated in the Caribbean region but ostensibly extending even to many South American territories. This creole in turn had Afro-Portuguese roots, derived from if not identical to the hypothetical maritime Portuguese creole (sometimes also identified with the medieval Sabir or Lingua Franca) claimed to be the source of most European - based Creoles in Africa, Asia and the Americas.1 The principal sources of evidence come in 19th century documents from the Caribbean region, principally Cuba and Puerto Rico, where many (but not all) bozal texts share a noteworthy similarity with other demonstrably Afro-Portuguese or Afro-Hispanic Creoles in South America, Africa and Asia.

scholarly journals Chief executives' approval of immigrants: Evidence from a survey experiment of 101 Latin American and Caribbean mayors

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
Claudia N. Avellaneda ◽  
Johabed G. Olvera
Keyword(s):  
Latin American ◽  
Civil Conflict ◽  
Central American ◽  
Control Group ◽  
South American ◽  
Survey Experiment ◽  
Chief Executives ◽  
Self Interest ◽  
The Impact ◽  
Latin American And Caribbean

Several countries worldwide have experienced increasing immigration waves. Studies have explained immigration attitudes mainly in terms of cultural threats and material self-interest. However, scarce attention has been given to chief executives' empathy toward the causes of migration, the impact of which may be moderated by the size of the migration wave. We test these propositions on data drawn from a survey-experiment using 101 Latin American and Caribbean mayors as subjects. Mayors were presented with hypothetical situations in which they had to approve or reject an experimentally manipulated number of immigrants. The cause of their migration was also manipulated by randomly presenting mayors a number of immigrants due to either an earthquake (natural disaster), a civil conflict, or an unspecified cause (control group). Findings show 79 percent of mayors approved immigrants regardless of the cause. Mayors are more likely to approve immigrants when the migration cause is stated. However, mayoral approval of immigrants due to disasters is not statistically different from mayoral approval of immigrants due to civil conflict. When the size of the immigration wave increases, mayors are still more likely to accept immigrants due to natural disasters, but less likely to accept immigrants due to civil conflict. Interestingly, South American, Caribbean and Central American mayors tend to be more empathetic toward immigrants than their Mexican colleagues.

The Authority and Power of Regional Economic Courts in Latin America and the Caribbean

2020 ◽  
pp. 214-258
Author(s):  
Salvatore Caserta
Keyword(s):  
Latin American ◽  
Transition To Democracy ◽  
Central American ◽  
Regional Economic ◽  
Regional Institutions ◽  
Court Of Justice ◽  
The Caribbean ◽  
State Actors ◽  
Caribbean Court Of Justice ◽  
Lack Of Commitment

This chapter compares the authority of the Central American Court of Justice (CACJ) and the Caribbean Court of Justice (CCJ) with that of the Andean Tribunal of Justice (ATJ) and the Mercosur Permanent Review Court (PRC) and, in so doing, draws general conclusions about the actors and factors that may be deemed of importance for better understanding the de facto authority of the Latin American and Caribbean Regional Economic Courts (RECs). More specifically, it shows that, similar to the CCJ, the ATJ has been relatively successful in achieving authority, at least in the area of intellectual property (IP) law. This occurred thanks to the Court’s ability to develop a relationship with state and sub-state actors, such as administrative agencies and national judges, which repeatedly filed preliminary rulings on these topics, thus allowing the Court to make a difference in this area of law. The chapter also shows the fluctuations of the authority of the ATJ on classic matters of community law, such as removal of trade barriers and the implementation of the policies of the Andean Community. In contrast, the Mercosur PRC has struggled throughout its history to ensure that it receives a steady flow of cases to rule upon and has been repeatedly criticised by both state and sub-state actors. This final chapter shows that this reality is a symptom of political instability, lack of commitment to regional institutions, authoritarian politics, and struggle to complete the transition to democracy in the Mercosur Member States. Against this background, the chapter draws general theoretical conclusions on the authority of the four RECs in Latin American and the Caribbean.

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