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From maize to haze: agricultural shocks and growth of the mexican drug sector
(CAF, 2013)
We examine how commodity price shocks experienced by rural producers affect the drug trade in Mexico. Our analysis exploits exogenous movements in the Mexican maize price stemming from weather conditions in U.S. maize-growing ...
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 ...
Local economic development. Some cities develop more than others: specialization, human capital and institutions
(CAF, 2009)
Why does a certain metropolitan area grow more than another? The answer to this question has evaded much of the considerable body of scholarship on the topic. One problem may be that some of the frameworks that drive ...
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 ...
Measuring the size and growth of cities using nighttime light
(CAF, 2018-09-20)
This paper uses high-resolution images of nighttime luminosity to estimate a globally comparable measure of the size of metropolitan areas around the world for the years 2000 and 2010. We apply recently-proposed methodologies ...
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 ...
Oil abundance and growth
(CAF, 2010)
The aim of this paper is to investigate the following questions: Is an abundance of oil, a curse or a blessing? What are the effects of oil abundance on growth and economic development, as seen in the level of income per ...
Local governments' capacity and performance: evidence from peruvian municipalities
(CAF, 2008)
This paper explores the extent of technical capacity constraints in Peruvian local governments. To do that, we study how effective municipalities are in using a significant income windfall due to central government transfers ...
Information sharing and access to finance of SMEs: cross country evidence from survey data
(CAF, 2010)
Using a survey of firms in 61 countries around the world (WBES) and econometric techniques that allow us to deal with observed and unobserved country specific components as well as with partial endogeneity, we explore the ...
The impact of financial repression on interest rate spreads in Venezuela
(CAF, 2009)
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 ...