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May 1995 Argentina, Chile, Colombia, Jamaica, Trinidad and Tobago, and Uruguay undertook extensive trade reform at a time of crisis, at which time institutional reform was difficult to undertake. Many of the countries had become members of the General Agreement on Tariffs and Trade (GATT) in the late 1980s and anticipated institutional reform. Only later did they reform trade policymaking institutions to bring them somewhat in line with trade policy regimes and GATT rules. These countries have all used reference prices and antidumping provisions of GATT, rather than safeguards, to provide relief from import surges. They have all tried to centralize trade policy by moving it from different agencies into a single agency. Despite liberalization, some sectors -- including automobiles, textiles and agriculture -- remain protected. Lessons the author draws from experience in these coutries: 1) the deteriorating macroeconomic situations are the main challenge to maintaining open trade policy; 2) trade policymaking must be constantly reviewed to prevent reversals, and the costs of protection must be communicated to the public at large; 3) There must be short-run measures to help domestic activities adjust to short-run price movements and alleviate pressure for protection. The danger -- such measures (unrelated to long-run price trends) can become permanent. 4) external commitments (through WTO or customs unions) can be used to discourage a return to protection; 5) extending reform (to labor and capital markets and the regulatory framework) will help maintain and extend trade liberalization. Allowing factors of production to move smoothly from one activity to another could help prevent the buildup of pressures that lead to protection; 6) an institution to consider exceptional protection should be advisory (independent of day-to-day trade policymaking), so that it works steadily, free from administrative pressures and exigencies. Requests for protection must be handled openly and transparently, with the findings subject to public scrutiny. Procedures for granting relief through safeguards and similar mechanisms must reflect all interests, including those of consumers, exporters, and users of the product; and 7) the analysis to establish injury must conform to high technical standards. The criteria to consider trade policies must reflect national interests, not those of any particular sector.
Globalization and Development draws upon the experiences of the Latin American and Caribbean region to provide a multidimensional assessment of the globalization process from the perspective of developing countries. Based on a study by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), this book gives a historical overview of economic development in the region and presents both an economic and noneconomic agenda that addresses disparity, respects diversity, and fosters complementarity among regional, national, and international institutions. For orders originating outside of North America, please visit the World Bank website for a list of distributors and geographic discounts at http://publications.worldbank.org/howtoorder or e-mail [email protected].
Foreword .-- Introduction .-- Part 1. Social policy institutions. -- Chapter I. Institutional framework for social development / Rodrigo Martínez, Carlos Maldonado Valera .-- Chapter II. Social development and social protection institutions in Latin America and the Caribbean: overview and challenges / Rodrigo Martínez, Carlos Maldonado Valera .-- Part 2. Components and institutional framewoek of social protection. -- Chapter III. Labour market regulation and social protection: institutional challenges / Mario D. Velásquez Pinto .-- Chapter IV. Institutional aspects of Latin America's pension systems / Andras Uthoff .-- Chapter V. Care as a pillar of social protection: rights, policies and institutions in Latin America / María Nieves Rico, Claudia Robles .-- Part 3. Policies for specific populations and their institutional framework .-- Chapter VI. Life cycle and social policies: youth institutions in the region / Daniela Trucco .-- Chapter VII. Disability and public policy: institutional progress and challenges in Latin America / Heidi Ullmann .-- Chapter VIII. Latin American Afrodescendants: institutional framework and public policies / Marta Rangel.
Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.
To maintain liberal trade and advance the agenda for more open trade, economic policy must prevent external shocks from becoming crises - and protection must remain uniform among sectors. Trade policymaking institutions must be able to deal with changes in political equilibrium resulting from external shocks or the lobbying power of groups seeking exceptions from uniform protection.
Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or 'second generation' reforms. 'The State of State Reform in Latin America' reviews and assesses the outcomes of these less studied institutional reforms. This book examines four major areas of institutional reform: a. political institutions and the state organization; b. fiscal institutions, such as budget, tax and decentralization institutions; c. public institutions in charge of sectoral economic policies (financial, industrial, and infrastructure); and d. social sector institutions (pensions, social protection, and education). In each of these areas, the authors summarize the reform objectives, describe and measure their scope, assess the main outcomes, and identify the obstacles for implementation, especially those of an institutional nature.
This book analyses the development challenge faced by Latin America at a time at which the concerns for the large inequality in the region are at a peak. This volume focuses on growth-with-equity, and is written by an outstanding group of Latin American and international researchers and policy-makers.
This volume uses the study of firm dynamics to investigate the factors preventing faster productivity growth in Latin America and the Caribbean, pushing past the limits of traditional macroeconomic analyses. Each chapter is dedicated to an examination of a different factor affecting firm productivity - innovation, ICT usage, on-the-job-training, firm age, access to credit, and international linkages - highlighting the differences in firm characteristics, behaviors, and strategies. By showcasing this remarkable heterogeneity, this collection challenges regional policymakers to look beyond one-size-fits-all solutions and create balanced policy mixes tailored to distinct firm needs. This book is open access under a CC BY-NC-ND 3.0 IGO license.