Apr 2022
Author(s): Cavallo, Eduardo A.;Galindo, Arturo;Nuguer, Victoria;Powell, Andrew
Economic growth in Latin America and the Caribbean was stronger than expected in 2021 but waned at the start of 2022. High commodity prices due to the war between Russia and Ukraine will provide a…
Apr 2022
Author(s): Cavallo, Eduardo A.;Galindo, Arturo;Nuguer, Victoria;Powell, Andrew
El crecimiento económico en América Latina y el Caribe en 2021 fue más robusto de lo esperado, pero disminuyó a principios de 2022. Los altos precios de las materias primas registradas por…
Feb 2022
Author(s): Galindo Paliza, Luis Miguel;Hoffmann, Bridget;Vogt-Schilb, Adrien
América Latina y el Caribe deben enfrentar el desafío del cambio climático al mismo tiempo que avanzan otros objetivos de desarrollo sostenible. ¿Cuánto costará hacer frente? Este trabajo revisa la…
Feb 2022
Author(s): Galindo Paliza, Luis Miguel;Hoffmann, Bridget;Vogt-Schilb, Adrien
Latin America and the Caribbean must respond to the challenge of climate change while making progress with other sustainable development goals. How much will it cost to meet climate change goals in…
Feb 2022
Author(s): Avellán, Leopoldo;Galindo, Arturo;Lotti, Giulia;Rodríguez Bonilla, Juan Pablo
We explore how Multilateral Development Banks (MDBs) can help to fill a large infrastructure financing gap in developing countries by indirectly mobilizing resources from other entities. The analysis…
Oct 2021
Author(s): Cavallo, Eduardo A.;Becerra, Oscar;Acevedo, Laura
This paper estimates the impact of catastrophic natural disasters on economic growth using an event study methodology on a country panel dataset from 1970 to 2019. The severity of the events is…
Sep 2021
Author(s): Cavallo, Eduardo A.;Giles Álvarez, Laura;Powell, Andrew
This paper employs a simple methodology to estimate the potential economic damages of the 2021 earthquake in Haiti. The country registered a magnitude 7.2 earthquake off the South Coast on August 14…
Mar 2021
Author(s): Fuentes, J. Rodrigo;Schmidt-Hebbel, Klaus;Soto, Raimundo
This paper reviews the design and operation of the Chilean fiscal rule in the past 30 years. Using different empirical approaches, we assess its impact on fiscal procyclicality, public debt, and…
Mar 2021
Author(s): Arce, Eliécer;Robles, Edgar A.
This paper aims to provide evidence on the effects of fiscal rules on public investment, fiscal results and growth in Costa Rica and Panama. First, we find that the budget formulation process and the…
Feb 2021
Author(s): Artana, Daniel;Moskovits, Cynthia;Puig, Jorge;Templado, Ivana
This paper analyzes the implementation of Fiscal Rules (FR) in Argentina. Several clear attempts to establish a FR at the national level are identified. The analysis suggests that the environment…
Feb 2021
Author(s): Arbeláez, María Angélica;Benítez, Miguel;Steiner, Roberto;Valencia, Oscar
In order to enhance fiscal sustainability and regain “investment grade” credit rating, in 2011 Colombia implemented a fiscal rule (FR) on the Central Government's structural balance. Investment…
Jan 2021
Author(s): Mendoza Bellido, Waldo;Vega, Marco;Rojas, Carlos I.;Anastacio, Yuliño
This article has three goals. First, it describes the genesis of fiscal rules in Peru and its degree of compliance. Second, it estimates the effect of fiscal rules adoption on public investment. Last…
Oct 2020
Author(s): Lankester Campos, Valerie;Loaiza Marín, Kerry;Monge Badilla, Carlos
This paper analyzes the sustainability of Costa Rican sovereign debt within the intertemporal budget constraint framework, which is complemented with the estimation of the fiscal reaction function…
Oct 2020
Author(s): Mungroo, Albert;Tjon Kie Sim-Balker, Peggy
High and unsustainable public debt is an economic problem at the center of many emerging and developing economies. This paper investigates, for the period 1978-2017, how the Surinamese Government…
Sep 2020
Author(s): Catalán-Herrera, Juan Carlos
This paper assesses debt sustainability in Guatemala. Debt stability has been achieved at very low expenditure levels, at the expense of adequate provisioning of public goods and services and a…
Aug 2020
Author(s): Cavallo, Eduardo A.;Izquierdo, Alejandro;León, John Jairo
Sudden stops in net capital flows can be prevented if domestic investors either repatriate foreign-held assets or roll over their local asset holdings when foreign investors stop lending or sell off…
May 2020
Author(s): Bastos, Fabiano;Feal-Zubimendi, Soledad;Hernaiz, Daniel;Miller, Sebastián J.;Queijo Von Heideken, Virginia;Rossi, José Luiz;Salazni, Mariana;Sánchez, Gabriel;Schijman, Agustina
Las políticas en implementación en la región para mitigar los efectos del COVID-19 se están pensando como mecanismos de apoyo de corto plazo, para asegurar niveles de ingresos a los más vulnerables y…
Apr 2020
Author(s): Nuguer, Victoria;Powell, Andrew
The novel coronavirus is taking a huge toll across the world, and governments in Latin America and the Caribbean are right to take aggressive measures to save lives. Within a matter of weeks, the…
Apr 2020
Author(s): Nuguer, Victoria;Powell, Andrew
El novedoso coronavirus está cobrando un gran número de víctimas en todo el mundo, y los gobiernos de América Latina y el Caribe están tomando medidas agresivas para salvar vidas. En cuestión de…
Apr 2020
Author(s): Bastos, Fabiano;Castellani, Francesca;Sánchez, Gabriel;Schijman, Agustina;Rossi, José Luiz;Hernaiz, Daniel;Miller, Sebastián J.;Feal-Zubimendi, Soledad;Queijo Von Heideken, Virginia
Este documento analiza el impacto de la pandemia de COVID-19 en los países prestatarios del Grupo BID en el Cono Sur (Argentina, Brasil, Chile, Paraguay y Uruguay).