Central America: Monetary Policy and Economic Growth

1985 ◽  
Vol 27 (4) ◽  
pp. 111-116 ◽  
Author(s):  
Henry C. Wallich
Keyword(s):  
Economic Growth ◽  
Central America ◽  
Economies Of Scale ◽  
Far East ◽  
Economic Structure ◽  
Prima Facie ◽  
Central American ◽  
The Far East ◽  
Primary Products ◽  
Object Of Study

Central America has always seemed to me a particularly fruitful object of study, of economic and particularly monetary affairs, because of the existence of six countries of not too different size and economic structure. This situation provides an opportunity for assessing the workings of certain economic principles.In economic terms, the countries of Central America are very small units. For such units, economics can provide a few analytical propositions that seem prima facie plausible. One is that such economies need not indefinitely specialize in exports of primary products, but if they diversity and industrialize their economies, it must be for export. Industrialization for the domestic market is unlikely to permit sufficient economies of scale. In this regard, the Central American countries have industrialized much less than the small republics in the Far East, and accordingly have not enjoyed as rapid a rate of economic growth.

The years of transition: Anglo-American relatons 1961–1967

1990 ◽  
Vol 16 (3) ◽  
pp. 239-258 ◽  
Author(s):  
Alan Dobson
Keyword(s):  
World War Ii ◽  
Far East ◽  
Economic Structure ◽  
Special Relationship ◽  
World War ◽  
The Far East ◽  
The Us ◽  
Close Relationship ◽  
Anglo American ◽  
The Relationship

The term ‘Special Relationship’ can give the false impression that Britain and the US have related to each other in an unchanging way since the forging of close bonds during World War II. If, like the present author, one chooses to use this terminology it is important to identify how the relationship has changed over the years.This article focuses on the period 1961–67, which was an important period of transition. In 1961, Suez notwithstanding, it was possible for British leaders to continue to think in terms of drawing on unique links with the US, some of which had been forged in World War II and still existed, others which had been developed in their common struggle against communism. By 1967 some of these links had been broken and others greatly weakened for a variety of reasons. Britain's relative world power had continued to decline, thus reducing her usefulness to the US; Britain began to look seriously to the EEC for its future and away from the US, which, for its part, was becoming increasingly preoccupied with Vietnam and the Far East in general; the economic structure Britain and the US had designed to manage the free world's. economy and in the direction of which they had cooperated extensively began to breakdown; and finally after the Kennedy–Macmillan friendship there was no really close relationship between British and American leaders until the mid-1970s. Before looking at this period of transition, however, it is necessary to review an earlier era when the Special Relationship was unquestioned.

Prospects for Mexico and Central America in 2017

2016 ◽  
Keyword(s):  
Economic Growth ◽  
Central America ◽  
Central American ◽  
Content Type ◽  
Us Economy

Subject Prospects for Mexico and Central America in 2017. Significance Economic growth in Mexico and Central American countries will continue in 2017, driven by those countries' own domestic resilience and the recovering US economy which, though weaker than expected, will still provide the region with a significant boost.

Mexico and Central America remittances may increase

2017 ◽  
Keyword(s):  
Economic Growth ◽  
Central America ◽  
The United States ◽  
Central American ◽  
Gdp Growth ◽  
Foreign Born ◽  
Donald Trump ◽  
Content Type ◽  
The World ◽  
Remittance Flows

Subject Remittances. Significance Remittances represent a crucial inflow of hard currency for many countries in Latin America. Mexico stands out as the fourth-largest recipient in the world, while in several Central American countries, remittances are even more important with respect to economic variables such as GDP or exports. With the vast majority of the region’s remittance inflows coming from the United States, the election of President Donald Trump in November has raised concerns for many countries whose economies rely heavily on the inflow of expatriate dollars. Impacts Amid low economic growth, remittances will represent an important element to alleviate poverty in Mexico. Any significant disruption to remittance flows would have a severe impact on consumption and GDP growth in Central America. As US unemployment falls, foreign-born workers will see wages go up in sectors with tight labour markets, boosting remittances

scholarly journals On the Matter of Appraisal of Public Policy Towards the Development of the Russian Far East

2021 ◽  
Vol 17 (4) ◽  
pp. 143-167
Author(s):  
Ruslan Gulidov ◽  
Keyword(s):  
Economic Growth ◽  
Public Policy ◽  
Federal Policy ◽  
Russian Far East ◽  
Far East ◽  
Private Investment ◽  
Far East Of Russia ◽  
Investment Promotion ◽  
The Far East ◽  
The Russian Far East

A brief overview of the evolution of the new public policy for the development of the Russian Far East is presented. Thanks to active federal policy, the Far East macroregion became a testing ground for new mechanisms and instruments of regional development aimed at stimulating economic growth and promoting private investment. Currently, there is no other macroregion in Russia within which all the possible investment promotion policy tools and measures are in operation. An inventory of budget expenditures (including shortfalls in income) relating to the implementation of measures to stimulate economic growth and promote private investments in the Far East of Russia is conducted. The direct results of the implemented policy (the volume of attracted investments, the number of jobs created, the volume of tax payments) are summarized. Although it is still premature to talk about the high budgetary efficiency of preferential regimes in the Far East of Russia, there is a widespread opinion among the official circles about the uniqueness of the created system for supporting the investment process. This view is primarily based on the high value of the private to public investments ratio pertaining to preferential regimes in Russia’s Far East. A comparative analysis of the performance of the key macro-indicators of the Far East economy and those of the rest of the Russian Federation is carried out for two comparable periods: five years before and five years from the beginning of the implementation of the federal policy. It is concluded that the active policy of creating favourable conditions for investment in the Russian Far East is not yet transformed into the desired pace of the socio-economic dynamics. Such a dissonance with optimistic assessments of the implemented measures and instruments introduced for the development of the macroregion prompts the question of whether the goals of public policy for the development of the Far East are consistent with the means used to achieve them. The starting point for finding an answer to this question is the difference in understanding the content of the categories ‘growth’ and ‘development’

scholarly journals State Incentivizing of Investment Activity in the Resource Region: Far East of Russia Variant

2020 ◽  
Vol 16 (4) ◽  
pp. 68-90
Author(s):  
Natalia Lomakina ◽  
Keyword(s):  
Economic Growth ◽  
Far East ◽  
Far East Of Russia ◽  
Investment Activity ◽  
New Model ◽  
Investment Projects ◽  
The Far East ◽  
Far Eastern ◽  
State Incentives

The authors studied the actual policies and emerging effects of state incentivizing of investment activity instruments under the ‘new model’ of development for the Far East of Russia. There were shown the specifics of localizing investments in the resource region in shape of preferential regimes of Territories of Advanced Social and Economic Development (TAD or ASEZ Advanced Special Economic Zones) and also extraterritorial preferences as direct subsidies from the federal budget to infrastructure projects of strategically important investment projects and regional investment projects. The effects of these instruments employed in the Far Eastern Federal District in 2014–2020 demonstrate that the package of state measures formed for attracting investments and its separate elements (royalty benefits, the criterion of maximum attraction of private investments for every rouble of budget ones, etc.) have promoted investments mainly in extraction of minerals in the total surveyed range of support instruments. The outcome of these preferences was further growth of resource-based industries in the Far East economy structure (which to a certain extent predetermines the perspective economy structure of the macro region). The analysis of the rate of accumulation (a share of investments in the regional Gross Domestic Product) as a factor of economic growth showed that the majority of Far Eastern regions (except the mono-mineral Sakhalinskaya and Magadanskaya oblasts and the Chukotsky Autonomous Okrug) do not reassert the role of resource-based industries as key drivers for their economic growth which would have justified state incentives for extraction of mineral resources in particular. Certain modifications have been revealed in the very instruments of state incentives under the ‘new model’ of development in the Far East of Russia among which is a blurring of border lines between preferential territories to legitimize incentivizing of mineral companies; a changed (reduced) role of regional authorities in implementation of different instruments; forming ‘multi-layer’ preferences in the interest of mineral companies. It was demonstrated that in the surveyed contour of key actors interacting in the process of implementing different instruments of a ‘new model’ for development of the Far East of Russia (federal and regional administration, businesses) with greater vividness comes to the fore a tendency for shaping key outcomes of preferences in mineral companies

scholarly journals Strategy of Social and Economic Development of the Far East: Tasks of the Crisis Period and Ecological and Economic Approach (Part I)

2021 ◽  
pp. 50-56
Author(s):  
A.L. Abramov ◽  
N.N. Matvienko ◽  
P.E. Osipov
Keyword(s):  
Human Capital ◽  
Economic Crisis ◽  
Regional Economy ◽  
Far East ◽  
Economic Structure ◽  
Economic Approach ◽  
Primorsky Krai ◽  
The Far East ◽  
Social And Economic Development ◽  
The Cost

Исследуются предпосылки возникновения и возможности прогнозирования мирового экономического кризиса, его влияние на экономику Дальнего Востока и Приморского края. Показывается, что мировой комплексный резонансный экономический кризис приводит к необходимости изменения структуры региональной экономики. Рассматриваются первоочередные задачи преодоления экономического кризиса и возможности создания новой структуры экономики на основе эколого-экономического подхода с использованием стоимости человеческого капитала и макросистемной ренты. Th e article examines the prerequisites for the emergence and the possibility of forecasting the global economic crisis, its impact on the economy of the Far East and Primorsky Krai. It is shown that the global complex resonant economic crisis leads to the need to change the structure of the regional economy. Th e article considers the priority tasks of overcoming the economic crisis and the possibility of creating a new economic structure based on the ecological and economic approach using the cost of human capital and macrosystem rent.

The Expansion of Liverpool's Carrying Trade with the Far East and Australia 1860–1914

1956 ◽  
Vol 6 ◽  
pp. 139-160 ◽  
Author(s):  
Francis E. Hyde
Keyword(s):  
Economic Growth ◽  
Far East ◽  
The Far East

THE story of Liverpool's carrying trade with the Far East and with Australia embraces many fields of human endeavour and is of interest in demonstrating how individuals in the exercise of their functions as entrepreneurs, merchants and shipowners can adapt their ideas and influence the course of a country's economic growth.

scholarly journals Development of the Far East regions: mechanisms of accelerated economic growth

2021 ◽  
Vol 1 ◽  
pp. 60-75
Author(s):  
Irina Zabelina ◽  
◽  
Ksenia Parfenova ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic Activity ◽  
Far East ◽  
Life Quality ◽  
Well Being ◽  
Multiplicative Model ◽  
The Far East ◽  
Far Eastern ◽  
Advanced Development

Introduction. At present, the issues of the Far East accelerated economic development remain in the focus of the state attention. Among the key mechanisms of state policy is the formation of advanced development territories (ADT). The article sets the task of studying the impact of the institutional measures taken on the welfare and the population’s life quality in the Far Eastern territories. Particular attention is paid to studying migration processes and analyzing the economic activity of the Far East population. The purpose of the article is to study the effects of implementing mechanisms for accelerated economic growth, as well as assess their impact on the life quality in the Far East regions. Methods. The authors use the following methods: economic and mathematical modeling, computational and analytical methods, comparative and spatial analysis. Scientific novelty of the research. For a comprehensive assessment of the regional well-being, the authors propose to supplement the multiplicative model based on the A. Sen’s extended welfare function with a composite ecological index. It takes into account the ecological conditions of human life, which are an important aspect of well-being. The authors obtain ecologically adjusted indicators of well-being for the eastern regions of the Russian Federation and study their dynamics, as well as the relations with the data on the population’s migration activity during the formation of new institutions of advanced development in the East of the country. Results. The authors find out that most of the Far Eastern territories are still lagging behind the average Russian level in socio-economic development. The results of assessing the level of well-being of regions on the basis of a multiplicative model without taking into account the environmental factor show that the most prosperous areas are raw materials-based territories. It is shown that the role of environmental factors in the life quality in the Far Eastern territories of Russia is very significant - the ecologically adjusted level of well-being is noticeably lower than the indicator that does not take into account this aspect of well-being. The authors reveal that socio-economically disadvantaged regions with difficult natural and climatic living conditions have very high rates of migration outflow. Their coefficients of migration loss reflect the presence of a crisis in economic development, which has been increasing in recent years. An analysis of trends in economic activity shows a relationship between the dynamics of the number of employed and the implementation of ADT projects in the Far Eastern territories. Conclusions. The conclusion is that the measures taken by the state for the advanced economic development of the eastern territories of the country have not yet had a noticeable positive impact on the welfare and life quality in the Far East regions.

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