There’s an exception to every rule, and the old saying about “two economists, three opinions” doesn’t always turn out to be true. The Nobel Prize-winning economists Robert Solow, Edmund Phelps, and Alvin Roth agreed on the importance of regional integration for Latin America’s development, and all three believe innovation to be a key driver for trade. The three experts were … [Read more...] about What do three Nobel Prize winners think about Latin American integration?
When people talk about integration in Latin America, the discussion is abuzz with talk of the Pacific Alliance (PA), an integration initiative among Chile, Colombia, Peru and Mexico that has become a model of a modern approach to regional integration. Not only has the PA removed traditional trade barriers — the group eliminated tariffs on 92 percent of traded goods and … [Read more...] about A New Trade Agenda: How Latin America Can Engage Beyond Traditional Free Trade Agreements
When electricity was first popularized at the beginning of the 20th century, there was a huge wave of factories that replaced their steam engines with electrical engines in an effort to increase productivity and modernize operations. However, the initial productivity gains from the electrification were barely noticeable - a phenomenon known in the economics literature as the … [Read more...] about 7 lessons learned on business process reengineering and improvement
The latest Latin America and the Caribbean Trade Trend Estimates indicate that the value of exports from the region fell by 9% year-on-year in the first quarter of 2016. The noteworthy feature is that the rate of contraction slowed vis-à-vis 2015, when the cumulative drop totaled 15%. A comparison with the trade collapse of 2009 reveals that the current contraction, which began … [Read more...] about Exports from Latin America: Is There Light at the End of the Tunnel?
Ever since the presidents of Chile, Colombia, Mexico, and Peru signed the Framework Agreement for the Pacific Alliance in June 2012 at the Paranal Observatory in Chile, the four countries have been hard at work to create an area of deep integration in Latin America that will increase trade openness, boost competitiveness, and foster growth. May 1, 2016, marked the coming … [Read more...] about Why Are We Celebrating the Entry into Force of the Additional Trade Protocol to the Pacific Alliance?