New Economics Papers
on Central and South America
Issue of 2014‒03‒15
ten papers chosen by
  1. THE LATIN AMERICAN SAVING GAP By MARCOS JOSÉ PÉREZ MONTEIRO; PEDRO CAVALCANTE FERREIRA; LEANDRO RADUSWESKI QUINTAL
  2. YOUTH LABOR MARKET IN BRAZIL THROUGH THE LENS OF THE FLOW APPROACH By GUSTAVO GONZAGA; CARLOS CORSEUIL; MIGUEL FOGUEL; EDUARDO RIBEIR
  3. “Dollarization and the Relationship Between EMBI and Fundamentals Latin American Countries” By María Lorena Mari del Cristo; Marta Gómez-Puig
  4. INCOME INEQUALITY REDUCTION IN BRAZIL: APSEUDO-PANEL APPROACH IN THE SEARCH OF ITS DETERMINANTS IN A REGIONALLEVEL By ANA MARIA BONOMI BARUFI
  5. Dollarization and the relationship between embi and fundamentals latin american countries By María Lorena Mari del Cristo; Marta Gómez-Puig
  6. Brazil’s Place in the Global Economy By Porzecanski, Arturo C.
  7. DISTRIBUTION, STRUCTURAL CHANGE ANDECONOMIC EXPANSION IN A TWO-SECTOR MODEL: AN APPLICATION TO BRAZIL By HENRIQUE MORRONE
  8. Inflation targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru By Armas, Adrián; Castillo, Paul; Vega, Marco
  9. The Evolution of Risk Premiums in Emerging Stock Markets: The Case of Latin America and Asia Region By Salma Fattoum; Khaled Guesmi; Bruno-Laurent Moschetto
  10. COMMON FACTORS AND THE EXCHANGE RATE: RESULTS FROM THE BRAZILIAN CASE By JOSE LUIZ ROSSI JR; WILSON FELÍCI
  1. By: MARCOS JOSÉ PÉREZ MONTEIRO; PEDRO CAVALCANTE FERREIRA; LEANDRO RADUSWESKI QUINTAL
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:anp:en2012:036&r=lam
  2. By: GUSTAVO GONZAGA; CARLOS CORSEUIL; MIGUEL FOGUEL; EDUARDO RIBEIR
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:anp:en2013:234&r=lam
  3. By: María Lorena Mari del Cristo (Faculty of Economics, University of Barcelona); Marta Gómez-Puig (Faculty of Economics, University of Barcelona)
    Abstract: This paper presents empirical evidence on the interrelationship that exists between the evolution of the Emerging Markets Bonds Index (EMBI) and some macroeconomic variables in seven Latin American countries; two of them (Ecuador and Panama), full dollarized. We make use of a Cointegrated Vector framework to analyze the short run effects from 2001 to 2009. The results suggest that EMBI is more stable in dollarized countries and that its evolution influences economic activity in non-dollarized economies; suggesting that investors confidence might be higher in dollarized countries where real and financial economic evolution are less tied than in non-dollarized ones.
    Keywords: Dollarization, emerging markets, Latin American countries, Cointegrated VAR, EMBI, exchange rate regime. JEL classification: C32, E44, F30
    Date: 2014–03
    URL: http://d.repec.org/n?u=RePEc:ira:wpaper:201406&r=lam
  4. By: ANA MARIA BONOMI BARUFI
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:anp:en2012:221&r=lam
  5. By: María Lorena Mari del Cristo (Department of Economic Theory, Universitat de Barcelona); Marta Gómez-Puig (Department of Economic Theory, Universitat de Barcelona and RFA-IREA)
    Abstract: This paper presents empirical evidence on the interrelationship that exists between the evolution of the Emerging Markets Bonds Index (EMBI) and some macroeconomic variables in seven Latin American countries; two of them (Ecuador and Panama), full dollarized. We make use of a Cointegrated Vector framework to analyze the short run effects from 2001 to 2009. The results suggest that EMBI is more stable in dollarized countries and that its evolution influences economic activity in non-dollarized economies; suggesting that investors confidence might be higher in dollarized countries where real and financial economic evolution are less tied than in non-dollarized ones.
    Keywords: Dollarization, emerging markets, Latin American countries, Cointegrated VAR, EMBI, exchange rate regime
    JEL: C32 E44 F30
    Date: 2014–02
    URL: http://d.repec.org/n?u=RePEc:aee:wpaper:1405&r=lam
  6. By: Porzecanski, Arturo C.
    Abstract: Brazil is a country with long-standing ambitions for a major role in the world economy and in global governance, but its footprint in various measures of both remains relatively modest. On current trends, the gap between ambition and achievement will likely remain large, so we provide a critique of Brazil’s strategy in terms of economic statecraft; reflect on the wisdom of choices made in the past in terms of multilateralism vs. regionalism; and suggest a new approach that could enhance Brazil’s leadership role at the regional and global levels. It would involve the Brazilian government and business elites making clearer and more daring national choices, including shedding increasingly arcane and detrimental strategic alliances, in order to enable the country to become more involved with and thus influential on the global economic stage.
    Keywords: Brazil; diplomacy; economic diplomacy; foreign trade policy; economic statecraft; international economics; Latin America
    JEL: F1 F13 F15 F5 N76 O11 O24 P45
    Date: 2014–03–08
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:54257&r=lam
  7. By: HENRIQUE MORRONE
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:anp:en2012:077&r=lam
  8. By: Armas, Adrián (Banco Central de Reserva del Perú); Castillo, Paul (Banco Central de Reserva del Perú); Vega, Marco (Banco Central de Reserva del Perú)
    Abstract: This paper provides an overview of the Reserve Requirements measures undertaken by the Central Bank of Peru. We provide a rationale for the use of these instruments as well as empirical evidence on their effectiveness. In general, the results show that a reserve requirement tightening has the desired effects on interest rates and credit levels both at banks and smaller financial institutions (cajas municipales).
    Keywords: Non-conventional monetary policy, Inflation Targeting, Reserve requirements.
    JEL: E51 E52 E58 G21
    Date: 2014–02
    URL: http://d.repec.org/n?u=RePEc:rbp:wpaper:2014-003&r=lam
  9. By: Salma Fattoum; Khaled Guesmi; Bruno-Laurent Moschetto
    Abstract: This paper employs a conditional version of the International Capital Asset Pricing Model (ICAPM) to investigate the determinants of regional integration of stock markets in the Latin America and Asia over the period 1996-2008. This model allows for three sources of time-varying risks: common international market risk, exchange rate risk and regional market risk. At the empirical level, we make use of the asymmetric multivariate BEKK-GARCH of Baba et al. (1990) process to simultaneously estimate the ICAPM. Our results show that the currency risk premium is the most important component of the total premium followed by the global market premium. As for the regional risk, our findings show that it is significantly priced for our studied emerging regions but its contribution to the total risk premium is weak.
    Keywords: ICAPM, stock market integration, exchange rate risk
    JEL: G12 F31 C3
    Date: 2014–02–25
    URL: http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-132&r=lam
  10. By: JOSE LUIZ ROSSI JR; WILSON FELÍCI
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:anp:en2013:125&r=lam
General information on the NEP project can be found at https://nep.repec.org. For comments please write to the director of NEP, Marco Novarese at <director@nep.repec.org>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.
This page is being maintained by Thomas Krichel. It was last updated on 2024‒05‒02 at 13:09.