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Based on historical databases on SWFs’ transactions, this paper shows that SWFs can facilitate up to 50% of the investment needs in infrastructure in Africa over the next decade. However, there are specific barriers to SWF investments, both in the short and longer term.
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With the recent boost of emerging economies in African economic relations, a new philosophy of development co-operation is gaining momentum. Challenges for African governments are to define a clear strategy, to ensure maintenance and to enhance their bargaining position.
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This paper analyses the links between emigration and labour markets in Honduras and finds that a 10% increase in emigration from Honduras increased wages in Honduras by around 10%, an increase which is higher than previous findings in other countries – but diminishing over time.
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Latin America exhibits a significant gap in infrastructures, due to insufficient public investment, not compensated by the private sector. This paper analyses trends in investments in six large Latin American economies, and their relationship with fiscal frameworks, notably fiscal rules.
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This working paper presents findings from an evaluation of the impacts of immigration policies on the welfare of migrants and their families in migrant-sending countries, focussing on Mexico and Nicaragua (US policies in the first case and US and Costa Rican policies in the second).
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This working paper uses an agricultural household model to explore the impact of potential immigration policy reforms on the welfare of rural households in Burkina Faso.
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Persistence in educational achievements across generations in Latin America arises from high returns to education, low progressivity in public investment in human capital and lack of access to proper financing. Education and other social policies to boost upward mobility are discussed.
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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.
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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.
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Is the social contract in Latin America broken? This paper analyses empirically the relationship between fiscal policy, social mobility and democratic consolidation in Latin America and the Caribbean, using the 2007 and 2008 rounds of the regional Latinobarómetro survey.