Nov 2018
Author(s): Lotti, Giulia; Avellán, Leopoldo; Galindo, Arturo
Fiscal policy is procyclical in developing countries. An ample literature has explained this fact and explored its consequences for aggregate cyclical fluctuations. Multilateral Development Banks (…
Sep 2018
Author(s): Ketterer, Juan Antonio; Powell, Andrew
Infrastructure financing “gaps” remain large but institutional investors maintain trillions of dollars in low yielding government bonds. One of the G20’s 2018 priorities has been to develop…
Sep 2017
Author(s): Ketterer, Juan Antonio; García Zaballos, Antonio
Economic theory tells us that there is a close relationship between price and demand. Moreover, these two variables may explain the rhythm of deployment and the technological solution that could…
Nov 2015
Author(s): Serebrisky, Tomás; Suárez-Alemán, Ancor; Margot, Diego; Ramirez, Maria Cecilia
Much attention has been devoted to how much infrastructure investment LAC needs. Less attention has been devoted to where that investment comes from. This report examines how much LAC invests in…
Nov 2015
Author(s): Serebrisky, Tomás; Suárez-Alemán, Ancor; Margot, Diego; Ramirez, Maria Cecilia
Durante las últimas décadas se ha prestado especial atención a cuánto es necesario invertir en infraestructura en América Latina y el Caribe (ALC). Sin embargo, no ha ocurrido lo mismo en relación al…
Feb 2009
Author(s): Galindo, Arturo; Pinzon, Mauricio
This database for Revelation of Expectations in Latin America (REVELA) was updated to March 2009. It includes data on inflation, growth, fiscal deficit, interest rate and other variables for each…
Jul 2006
Author(s): Bebczuk, Ricardo N.; Panizza, Ugo; Galindo, Arturo
Recent empirical and theoretical literature on the impact of real exchange rate devaluations on economic performance questions the traditional expansionary effect generated within standard Mundell-…
Apr 2005
Author(s): Galindo, Arturo; Leiderman, Leonardo
Financial dollarization in Latin America has been growing over time in spite of a major reduction in inflation and a shift toward central bank independence. After discussing the key stylized facts…
Jan 2003
Author(s): Galindo, Arturo; Micco, Alejandro
This paper tests the efficiency of different structures of bank ownership in terms of its ability to target manufacturing sectors in need of credit. We find that state- owned banks do not play a…