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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 ...
Trade Integration in Colombia: A Dynamic General Equilibrium Study with New Exporter Dynamics
(CAF, 2017-08-01)
We study Colombia’s trade integration over a 30 year period through the lens of GE model in which non-exporters have access to a risky exporting technology and exporters must invest in accumulating a better exporting ...
Financial Frictions, Trade, and Misallocation
(CAF, 2017-10-07)
We investigate the extent to which financial frictions shape the aggregate effects of a trade liberalization through their impact on aggregate total factor productivity (TFP) and capital misallocation. We study a small ...
The Causes and Consequences of the Spatial Organization of Agriculture in Brazil
(CAF, 2017-10-10)
Why are there vast differences in agricultural activity across space? How do these differences shape the aggregate impact of agricultural shocks? To address these questions, I build a quantitative general equilibrium model ...
Corruption, Custom Reform and Firm Growth: Quasi-Experimental Evidence from Colombia
(CAF, 2017-11-15)
Customs are often prone to corruption because it concentrates a lot of discretionary power in the hand of custom agents who take decisions with high economic stakes for the firms, providing an opportunity for custom agents ...
Capital Controls and Firm Performance: The Effects of the Chilean Encaje
(CAF, 2017-11-30)
This paper studies the effects of the capital controls imposed by Chile between 1991 and 1998,
i.e. the Chilean encaje, on firms' production, investment and exporting decisions. We use a
general equilibrium model with ...