Central America, Panama, and the Dominican Republic

Central America, Panama, and the Dominican Republic

Author: Mr.Marco Pinon

Publisher: International Monetary Fund

Published: 2012-06-28

Total Pages: 280

ISBN-13: 1475572018

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Central America, Panama, and the Dominican Republic coped well with the global financial crisis of 2008-09. The impact was generally less severe and shorter lived than in previous episodes, the balance of payments adjustment was orderly, and the stability of the financial system was not compromised. This resilience can be attributed to a large extent to the strengthening of the fiscal frameworks, monetary management, and financial reforms conducted in the years preceding the global crisis. Nevertheless, the region faces considerable challenges for the period ahead, including the need to raise medium term growth above historical levels and protect macroeconomic and financial stability. This book argues that meeting these challenges will have to come from within, in light of the anticipated modest demand growth from trade partners. Raising growth in the region will depend on the adoption of structural reforms that generate substantial productivity gains. Rebuilding fiscal space and securing debt sustainability will hinge on efforts to increase tax revenue and reorienting spending to social and investment priorities. In the non-officially dollarized economies, it will also be essential to strengthen the monetary policy frameworks to keep inflation low and increase exchange rate flexibility, and improve financial regulation and supervision.


Central America, Panama, and the Dominican Republic

Central America, Panama, and the Dominican Republic

Author: Mr.Marco Pinon

Publisher: International Monetary Fund

Published: 2012-07-16

Total Pages: 280

ISBN-13: 1616353783

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Central America, Panama, and the Dominican Republic coped well with the global financial crisis of 2008-09. The impact was generally less severe and shorter lived than in previous episodes, the balance of payments adjustment was orderly, and the stability of the financial system was not compromised. This resilience can be attributed to a large extent to the strengthening of the fiscal frameworks, monetary management, and financial reforms conducted in the years preceding the global crisis. Nevertheless, the region faces considerable challenges for the period ahead, including the need to raise medium term growth above historical levels and protect macroeconomic and financial stability. This book argues that meeting these challenges will have to come from within, in light of the anticipated modest demand growth from trade partners. Raising growth in the region will depend on the adoption of structural reforms that generate substantial productivity gains. Rebuilding fiscal space and securing debt sustainability will hinge on efforts to increase tax revenue and reorienting spending to social and investment priorities. In the non-officially dollarized economies, it will also be essential to strengthen the monetary policy frameworks to keep inflation low and increase exchange rate flexibility, and improve financial regulation and supervision.


Gunboat Democracy

Gunboat Democracy

Author: Russell Crandall

Publisher: Rowman & Littlefield

Published: 2006

Total Pages: 276

ISBN-13: 9780742550483

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In this balanced and thought-provoking study, Russell Crandall examines the American decision to intervene militarily in three key episodes in American foreign policy: the Dominican Republic, Grenada, and Panama. Drawing upon previously classified intelligence sources and interviews with policymakers, Crandall analyzes the complex deliberations and motives behind each intervention and shows how the decision to intervene was driven by a perceived threat to American national security. By bringing together three important cases, Gunboat Democracy makes it possible to interpret and compare these examples and study the political systems left in the wake of intervention. Particularly salient in today's foreign policy arena, this work holds important lessons for questions of regime change and democracy by force.


The Rise of the Latin American Baseball Leagues, 1947-1961

The Rise of the Latin American Baseball Leagues, 1947-1961

Author: Lou Hernández

Publisher: McFarland

Published: 2011-10-10

Total Pages: 414

ISBN-13: 0786489367

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Major League Baseball today would be unrecognizable without the large number of Latin American players and managers filling its ranks. Their strong influence on the sport can trace its beginnings to professional leagues established south of the border and in the Caribbean nations in the 1940s. This narrative history of Latin American baseball leagues during the 1940s and 1950s provides an in-depth, year-by-year chronicle of seasonal leagues in the seven primary baseball-playing areas in the region: Mexico, Nicaragua, Panama, Venezuela, Cuba, the Dominican Republic, and Puerto Rico. The success of these leagues, and their often acrimonious competition with U.S. Organized Baseball, eventually ushered in a new era of contract concessions from owners and general labor advancements for players that forever changed the game.


Social Expenditure in Central America, Panama and the Dominican Republic at a Glance

Social Expenditure in Central America, Panama and the Dominican Republic at a Glance

Author: Marco Solera

Publisher: Inter-American Development Bank

Published: 2016-03-01

Total Pages: 188

ISBN-13: 1597822515

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Social spending is a powerful tool to reduce poverty, achieve higher equality and better life conditions for the inhabitants of a country. In "Social Expenditure in Central America, Panama and the Dominican Republic: 2007-2013", a characterization of the different variables that have taken social expenditure to its current position is performed. During the economic crisis period, many governments of the region confront this situation with an increase in social expenditures. However, part of the increase was centered on inflexible items, particularly wages, which facilitated the increase in fiscal deficits and, consequently, on public debt. Thus, after the financial crisis, the fiscal situation has reduced governments' buffers to respond to economic shocks, which imply that we need to examine the fiscal policy given its rigidity, the scarcity of public resources and the institutional contract. The study of wage bill increases provides more information related to the causes of this dynamic, and allow us to offer recommendations to improve spending management without threatening public finances. A better use of resources could contribute to define a more efficient and equitable agenda for the countries in the region. Finally, something that was not deeply explored, as of today, is the institutional complexity and how this could facilitate, or hinder, the government's ability to express its fiscal policy, including the effectiveness in the use of public resources.


Potential Output and Output Gap in Central America, Panama and Dominican Republic

Potential Output and Output Gap in Central America, Panama and Dominican Republic

Author: Mr.Christian A Johnson

Publisher: International Monetary Fund

Published: 2013-06-12

Total Pages: 42

ISBN-13: 1484322207

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Potential Output is a key factor for debt sustaintability analysis and for developing strategies for growth, but unfortunately it is an unobservable variable. Using three methodologies (production function, switching, and state-space), this paper computes potential output for CAPDR countries using annual data. Main findings are: i) CAPDR potential growth is about 4.4 percent while output gap volatility is about 1.9 percent; ii) The highest-potential growth country is Panama (6.5 percent) while the lowest-growth country is El Salvador (2.6 percent); iii) CAPDR business cycle is about eigth years.


Paving the Way to Sustained Growth and Prosperity in Central America, Panama, and the Dominican Republic

Paving the Way to Sustained Growth and Prosperity in Central America, Panama, and the Dominican Republic

Author: Ms.Kimberly Beaton

Publisher: International Monetary Fund

Published: 2019-09-13

Total Pages: 308

ISBN-13: 1484353846

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Abstract: Accelerating economic growth in Central America, Panama and the Dominican Republic (CAPDR) remains an elusive task. While the region performed relatively well in the post-global financial crisis period, over the last five years obstacles to growth have become more evident and new challenges have emerged. In response, the region has strengthened macro-financial frameworks but more progress will be required to pave the way to sustained growth and prosperity. This book considers the structural factors underlying the region’s growth outlook and assesses its macroeconomic and financial challenges to help shape the policy agenda going forward. The book first identifies the structural determinants of growth in the region related to: capital formation; employment; demographic factors, including immigration; productivity; and violence. It then highlights the importance of creating fiscal space through the design and implementation of fiscal rules and mechanisms to increase accountability (better quality of public spending, adequate policies to reduce income inequality and sustainable retirement plans). Finally, it presents recent evidence on the importance of a supportive financial sector for growth (including through financial inclusion and development).


Central America, Panama, and the Dominican Republic

Central America, Panama, and the Dominican Republic

Author: Stephanie Medina Cas

Publisher: International Monetary Fund

Published: 2012-09-27

Total Pages: 40

ISBN-13: 1475510845

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This paper studies the potential for the export sector to play a more important role in promoting growth in Central America, Panama, and the Dominican Republic (CAPDR) through deeper intra-regional and global trade integration. CAPDR countries have enacted many free trade agreements and other regional integration initiatives in recent years, but this paper finds that their exports remain below the norm for countries of their size. Several indexes of outward orientation are constructed and suggest that the breadth of geographic trading relationships, depth of integration into global production chains, and degree of technological sophistication of exports in CAPDR are less conducive to higher exports and growth than in fast-growing, export-oriented economies. To boost exports and growth, CAPDR should implement policies to facilitate economic integration, particularly building a customs union, harmonizing trade rules, improving logistics and infrastructure, and enhancing regional cordination.