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Savings Groups Reduce Vulberability but have Mixed Effect on Financial Inclusion
(CAF, 2021-01-08)
This paper evaluates the impact of the introduction of savings groups on poverty, vulnerability, and financial inclusion outcomes in rural Peru. Using a cluster randomized control trial and relying on both survey and ...
What explains output recoveries in developing and emerging market economies after the global financial crisis?
(CAF, 2017-09-26)
This paper presents a systematic assessment of the macroeconomic factors associated with differences in GDP dynamics in emerging markets in the aftermath of the global financial crisis. We implement a Bayesian Model ...
Public financial support and innovation in Colombian manufacturing firms
(CAF, 2017-05-30)
We evaluate the impact of public financial support, both subsidies and credit, on different types of innovation in Colombian industry. We compare it with the effects of financing innovation with own resources and with ...
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 ...
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 ...
Distorsions, resource al location and productivity in Latin America
(CAF, 2012)
We develop a span-of-control model where managerial skills are endogenous and the outcome of investments over the life cycle of managers. We calibrate such model to U.S. data, and use it to evaluate the interplay between ...
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 ...
Impacto de las políticas de fomento al emprendedorismo: el caso de "Buenos Aires emprende"
(CAF, 2012)
Este trabajo evalúa el impacto de una política orientada a promover la creación y desarrollo de emprendimientos innovadores en la ciudad de Buenos Aires. El programa recibe unos 100 proyectos por año, de los cuales selecciona ...
Reciprocity and willingness to pay taxes: evidence from a survey experiment in Latin America
(CAF, 2012)
We provide the first experimental attempt at measuring reciprocity in tax collection in developing countries, where enforcement institutions are weak, and where tax rates and in general tax observance is lower. In a household ...
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 ...