Sep 2017
Author(s): Panizza, Ugo
The paper shows that international government borrowing from multilateraldevelopment banks is countercyclical while international government borrowing form private sector lenders is procyclical. The…
Jan 2008
Author(s): Stein, Ernesto H.; Bos, María Soledad; Duarte, Jesús; Cuevas, Mario; Alvarado, Nathalie; Beliz, Gustavo; Barreix, Alberto Daniel; Roca, Jerónimo; Auguste, Sebastián; Jones, Mark P.; Straface, Fernando; Sánchez, Mario; Behrman, Jere R.; Duryea, Suzanne; Maluccio, John A.; Kugler, Adriana; Gonzales, Alberto; Ñopo, Hugo R.; Carreño, Liliana; Espitia Aviléz, Gonzalo; Pineda Mannheim, Carlos R.; Vodusek, Ziga; Granados, Jaime; Zeballos, Erick; Gutiérrez Rocha, Mario
La estructura y selección de temas de la presente publicación responde, en su mayor parte, a un diagnóstico de crecimiento para Guatemala realizado en 2007, donde se identificaron un conjunto de…
Mar 2007
Author(s): Panizza, Ugo; Jaimovich, Dany
There is a large literature showing that fiscal policy is either acyclical or countercyclical in industrial countries and procyclical in developing countries. Most of this literature is based on OLS…
Jan 2007
Author(s): Galindo, Arturo; Scartascini, Carlos; Payne, J. Mark; Daughters, Robert; Melo, Alberto; Echebarría, Koldo; Lora, Eduardo; Filc, Gabriel; Micco, Alejandro; Chong, Alberto E.; Panizza, Ugo; Benavides, Juan; Magaldi de Sousa, Mariana; Navarro, Juan Carlos; Márquez, Gustavo; Cortázar Velarde, Juan Carlos; Mesa-Lago, Carmelo; Harper, Leslie; Rodríguez-Clare, Andrés; Perusia, Juan Cruz
Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of…
Aug 2004
Author(s): Díaz Alvarado, Carlos; Izquierdo, Alejandro; Panizza, Ugo
This paper surveys the recent literature on fiscal sustainability, with particular emphasis on emerging market countries. It discusses the main elements that differentiate emerging market countries…
Aug 1999
Author(s): Panizza, Ugo
Cross-country studies have found a negative relationship between income inequality and economic growth. The main problem with the cross-country analyses is the poor quality of the data on income…