Oil Prices and the Future of Petrocaribe

Oil Prices and the Future of Petrocaribe

On June 2005, upon the initiative of late Venezuelan President Hugo Chavez, the governments of Antigua and Barbuda, Bahamas, Belize, Cuba, Dominica, Dominican Republic, Grenada, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname and Venezuela, agreed on the creation of Petrocaribe, a Cooperation Agreement to strengthen energy security in […]

Greening Corporate Value Chains Lowers Environmental Impact and Lifts Competitiveness

  Adidas, one of the world’s top two sportswear manufacturers, recently ended its business relationship with 13 of its Asian suppliers as a result of their severe or repeated noncompliance with labor, health, and safety workplace standards at their factories. This is one example of large multinational corporations working harder to demonstrate to their ever-more-demanding stakeholders that […]

Not Your Granma’s Cuba: A New Day in the Caribbean

Much has changed since Fidel Castro arrived on the Granma yacht in 1956. On July 20, 2015, Cuba and the United States reopened their embassies in Washington and Havana for the first time in decades, marking a crucial step towards the normalization of relations. Yet, while much attention will be placed on these international developments, […]

Argentina at a Crossroads

Eleven months ago, as the Argentine national football team marched towards the World Cup Final, the common refrain held that it was a country of 40 million football coaches. It may also be one of 40 million currency specialists. When asked to ballpark the true rate of inflation over coffee in Recoleta, Buenos Aires, Argentine […]

How Commodity-Dependent Are Latin American Economies?

The end of the upswing phase of the commodity price super-cycle after its peak in 2011 has lowered economic growth prospects in most of Latin America. While that broad statement can hardly be disputed, chapter 3 of the latest IMF Western Hemisphere Regional Economic Outlook called attention to underlying significant differences among countries in the […]

How Commodity-Dependent Are Latin American Economies?

The end of the upswing phase of the commodity price super-cycle after its peak in 2011 has lowered economic growth prospects in most of Latin America. While that broad statement can hardly be disputed, chapter 3 of the latest IMF Western Hemisphere Regional Economic Outlook called attention to underlying significant differences among countries in the […]

Are Mega-Trade Agreements a Threat to Brazil?

The landscape of international trade negotiations has been undergoing an upheaval. On the multilateral level, after 15 years of unsuccessful attempts to close the Doha Development Round at the World Trade Organization (WTO), the negotiation system has shown to be highly vulnerable to blockades by any small group of member countries. The complex web of […]

Latin American Corporate Finance: Is There a Dark Corner?

Since last year there has been much talk of possible financial stress stemming from increased debt leverage in non-financial corporates of emerging market economies. A recent study has brought to light some key evidence on the Latin American case (Bastos et al, 2015). EME non-financial corporate debt has been on the rise Back in 2013, […]

The High Density of Brazilian Production Chains

International trade has undergone a radical transformation in the past decades as production processes have fragmented along cross-border value chains. The Brazilian economy has remained on the fringes of this production revolution, maintaining a very high density of local supply chains. This article calls attention to the rising opportunity costs incurred by such option taken […]

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