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In a sample of 128 countries, we identify 25 episodes of large nominal and real appreciations shocks and study their macroeconomic effects in a dummy-augmented panel autoregressive model. Results show that an exchange rate appreciation can have strong effects on current account balances.
Leaders call for a Latin American Decade / ASEAN recovery losing momentum
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Informality remains pervasive in Latin American and Caribbean labour markets. Many “middle-sectors workers” (around the middle of the income distribution) are employed informally and contribute irregularly to a public or private pension.
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A strengthened social contract in Latin American countries relies on the improved quality of public services such as health and education, which would build a constituency for a broader tax base.
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Income is very unequally distributed in Latin America – but so too are opportunities for upward mobility. Early childhood development is a powerful mechanism to level the social playing field. More and better secondary education is key.
The uneven global recovery is challenging Latin America and the Caribbean, but the region will emerge stronger from the crisis with high growth potential if it continues deepening integration into the global economy.
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Social protection coverage is quite low in Latin America. This situation represents a challenge for public policy since these low levels of affiliation and irregular contribution histories indicate that pensions will be insufficient in the coming decades.
The middle class in Latin America is economically vulnerable / Register now to the 3rd Economic Forum Latin America and the Caribbean
This paper studies the impact of workers’ remittances on sovereign ratings in 55 developing countries over the period 1993–2006. First, it looks at the determinants of sovereign ratings, including remittance flows.
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