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- Volume 2014, Issue 112, 2014
CEPAL Review - Volume 2014, Issue 112, 2014
Volume 2014, Issue 112, 2014
Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of reforms and transfer of technology. Written in English and Spanish (Revista De La Cepal), each tri-annual issue brings you approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.
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A regional reserve fund for Latin America
Authors: Daniel Titelman, Cecilia Vera, Pablo Carvallo and Esteban Pérez-CaldenteyThis paper analyses the viability, implications and challenges of expanding the Latin American Reserve Fund (flar) to Argentina, Brazil, Chile, Mexico and Paraguay. A regional reserve fund should be viewed as one of a broad range of mechanisms offered by the international financial architecture to address balance-of-payment difficulties. A fund with resources of between US$ 9 and US$ 10 billion at its disposal would be able to cover the potential funding needs of its members in the most likely scenarios, without necessarily becoming the lender of last resort for all its members. In more extreme scenarios, the fund should be able to “broaden its shoulders” by drawing on other components of the international financial architecture. Fund governance would present the main challenge resulting from an increase in the number of members.
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A proposal for a modified Human Development Index
Author: María Andreina Salas-BourgoinThe Human Development Index (hdi) is an indicator designed to track the development of countries in respect of three dimensions of development: health, education and income. Since it was first published in 1990, great efforts have been made to improve hdi, which, as has been stressed on numerous occasions, cannot be seen as a definitive measure of development. This paper includes a reflection on what constitutes human development, the pillars underpinning it and two new dimensions that should be incorporated into hdi (employment and political freedoms) for it to better express progress in development. This document will also present, in addition to the modified hdi, detailed instructions for its calculation and an annex including modified hdi scores for 117 countries.
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From the classroom to the workplace: Three decades of evidence for Latin America
Author: Mariana ViollazThis study draws on household survey results spanning a period of three decades in length to analyse young people’s entry into the labour market in 10 Latin American countries. It finds that: (i) the employment status of young people had deteriorated over time until seeing an improvement in the late 2000s, although youth unemployment and informality rates are still very high; (ii) young people are entering into a typical employment cycle in which they are surpassing the results obtained by adults of earlier generations. Informality is not a part of this pattern, however, indicating the existence of penalties associated with youth informality. Nonetheless, the outcomes are, for the most part, promising. The author concludes that efforts to improve the position of young people in the workforce should be continued in order to sustain the recent upturn in youth employment.
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Jamaica: Employer size and worker remuneration in the private sector
Author: Allister MounseyEvidence suggests that labour markets do not clear as posited by conventional microeconomics. The enduring inter-industry wage differentials (iiwd) and employer-size wage differentials (eswd) present a challenge. Data from the Jamaican private sector reveal that eswd could be the impetus for iiwd. After accounting for labour quality and other characteristics, employers with 10 to 49 employees and 50 or more employees pay estimated premiums of 14.3% and 22.9%, respectively. After estimating the differences in tenure profiles, the premium associated with the largest employer size was reduced to 15.9%, while the premium associated with establishments of 10 to 49 workers was unchanged. Notwithstanding the partial explanation provided by tenure profile differences, the bulk of the eswd appears to be explained by other theoretical constructs.
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Wage differentials between the publicand private sectors in Chile: Evidence from longitudinal data
Authors: Lucas Navarro and Javiera SelmanDespite its importance, the literature on wage differentials between public- and privatesectors employees in Latin America is sparse. This article analyses the wage gap between the two sectors in Chile, based on monthly longitudinal data obtained from the Social Protection Survey (eps) for the period 2002-2009. The study takes advantage of the panel structure of the data to control for time-invariant observable and unobservable factors that determine the self-selection of workers between sectors and wages. The results show that the wage differential between workers in the public and private sectors disappears when these factors are controlled for.
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Income inequality in Brazil: What has changed in recent years?
Authors: Helder Ferreira de Mendonça and Diogo Martins EstevesThis paper provides empirical evidence to assess the impact of socioeconomic and political variables on different measures of income inequality based on the 27 units of the Brazilian federation in the period from 1999 to 2008. The Brazilian experience is a good example for understanding the income inequality policies in developing countries. The findings suggest that the improvement observed along the period under analysis is a result of the combination of increased trade openness, technological and financial development, a reduction in the unemployment rate, the adoption of social policies that imply a direct effect on the poorest families and the adoption of mechanisms against corruption.
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Deprivation viewed from a multidimensional perspective: The case of Brazil
Authors: Ana Flavia Machado, Andre Braz Golgher and Mariangela Furlan AntigoThis study uses the capability approach to undertake a multidimensional analysis of deprivation in urban areas of Brazil between 2003 and 2008 based on a four-dimensional index (living conditions, health, level of education and participation in the labour market) constructed out of 13 different indicators. Its findings indicate that a majority of the population is living in households that are not experiencing deprivation and that, of those that are, the instance of deprivation is confined to a single indicator. When the results were then compared with the income-poverty index for the different states in Brazil, the outcome confirmed that regional inequalities show up in both types of measurements. Finally, synthetic cohort data and ordinary least squares (ols) models were used to study the relationship between personal attributes and a propensity to lapse into poverty and/or to remain poor.
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The impacts on family consumption of the Bolsa Família subsidy programme
Author: Marcela Nogueira FerrarioThe aim of this paper is to evaluate the effects of the Bolsa Família family conditional cash transfer programme (pbf) on beneficiary families’ spending on food, fruit, meat and fish, poultry and eggs, green vegetables, cereals and oilseed products, flours and pastas, tuber and root vegetables, sugar, bakery products, alcoholic beverages, education, hygiene, health and school utensils. The estimation was based on microdata obtained from the 2008-2009 Brazilian Household Budget Survey; and the propensity-score matching methodology was used to calculate the average effect of the treatment on the families treated. The results were statistically significant in respect of expenditure on: (i) food products; (ii) poultry and eggs; (iii) legumes and green vegetables; (iv) cereals, leguminous and oilseed products; (v) flours, starches and pastas; (vi) tuber and root vegetables; (vii) sugars and sugar-based products; and (viii) school articles. The fact that beneficiary families increased their purchases of priority goods and school utensils suggests an investment in education.
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The international asparagus business in Peru
A variety of methodologies, such as the Foreign Trade Competitiveness Index, the Foreign Trade Policy Index and the Tradecan competitiveness matrix, reveal a process of adaptation to changes in world trade in the period from 2002 to 2012, within the context of the so-called “complex adaptive system” as a transition from the fourth to the fifth technological revolution in fresh asparagus exports from Peru. The country’s competitiveness map shows that it is not competing globally at the international level but rather partially or regionally. Mexico is its main competitor, with comparative advantages over Peru because of its currency’s real exchange rate against the United States dollar, but there are challenges that need to be dealt with in the medium term in this process of adaptation to change.
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The forestry and cellulose sector in the Province of Concepción, Chile: Production linkages between the Secano Interior and industry in Greater Concepción, or an enclave economy?
Authors: Falabella G. Gonzalo and Gatica N. FranciscoThis article deals with the interaction between supply chains and territory, identifying two types of development: the “enclave” type of the rain-fed farming economy in the inland area known as the Secano Interior, and the “potential linkage” between this enclave and the greater metropolitan area of Concepción. The benefits of the forestry and cellulose supply chain, which is of global importance, are not spreading through its territory, which remains underdeveloped. Greater Concepción, the country’s second most important industrial conurbation, has not succeeded in establishing a positive connection with its hinterland via its economic networks or with the forestry and cellulose chain of the Secano Interior. This article is based on economic flow data from the 2008 input-output matrix, on surveys carried out as part of a National Fund for Regional Development project (fndr, 2008) and on studies of Chile and its development types (Falabella, 2000 and 2002). It argues for a need to create a territorial political platform for economic development to facilitate the restoration of production linkages.
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