Despite uncertainties in the global economy, Latin American countries have attracted a significant amount of Foreign Direct Investment (FDI) in recent years. Investing in Latin America is now a central pillar of many ...

In November 2008, Colombian authorities dismantled a network of Ponzi schemes, making hundreds of thousands of investors lose tens of millions of dollars throughout the country. Using original data on the geographical ...

Fiscal contract theories of the state hypothesize that government performance affects tax collection and that institutions that foster representation and accountability link taxes and services. These propositions have yet ...

This report provides a selective overview of issues pertaining to the budgetary process and a mapping out of budgetary institutions in Latin America and assesses to what extent budgets play the role societies expect from ...

There is a growing literature studying business cycles in emerging economies. This paper contributes to this literature by examining how durable goods and financial frictions shape cyclical fluctuations in a small open ...

América Latina cuenta con el mayor número de países de ingreso medio del mundo, sin embargo, durante la mayor parte del siglo XX las tasas de crecimiento per cápita de los países de la región fueron inferiores a aquellas ...

This paper begins by reviewing the problem of tax evasion measurement. Based on available data, I conclude that this problem is far from being negligible, both for developed and developing countries. I also present in more ...

El último episodio de auge y caída en los precios de las materias primas ha generado preocupación acerca del impacto de precios volátiles en las posiciones fiscales de los países de América Latina. Este trabajo, usando una ...

In this paper we investigate whether fiscal performance is affected by the presence of natural resource revenues. We compare policy outcomes from mineral-abundant municipalities and non mineral-abundant municipalities in ...

This paper empirically examines the effect of financial repression on interest rates spreads in Venezuela. In order to have a measure of financial repression, we built an index that captures the opportunity cost of regulatory ...