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Institutions, sectorial dynamics and foreign direct investment in Latin America: a new emerging reality
(CAF, 2013)
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 ...
Economic Shocks and Crime: Evidence from the Crash of Ponzi Schemes
(CAF, 2016-03-14)
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 ...
Estructura de financiamiento y restricciones financieras de las empresas en Colombia
(CAF, 2010)
En este estudio evaluamos las restricciones financieras que enfrentan las empresas en Colombia e identificamos los determinantes de su estructura de financiamiento. Utilizando datos a nivel de firma, analizamos la evolución ...
Government performance, taxation and citizen participation: evidence from Brazil
(CAF, 2011)
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 ...
The political economy of budgeting in Latin America procedures, oversight, and participation
(CAF, 2011)
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 ...
Business Cycles in Emerging Markets: the Role of Durable Goods and Financial Frictions
(CAF, 2012)
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 ...
Patrones de desarrollo en América Latina: ¿convergencia o caída en la trampa del ingreso medio?
(CAF, 2012)
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 ...
The economics of tax evasion
(CAF, 2011)
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 ...
Efectos dinámicos de los precios de las materias primas en las posiciones fiscales de América Latina
(CAF, 2010)
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 ...
Can a Mining Windfall Improve Welfare? Evidence from Peru with Municipal Level Data
(CAF, 2012)
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 ...