7962 research outputs found
Sort by
The Labor Market Power of Exporting Firms: Evidence from Latin America
Get PDFUsing establishment-level data from the World Bank Enterprise Survey, we assess the market power of exporting firms across 16 countries in Latin America. Leveraging information on export destinations, as well as exchange rate and price data, we construct exchange rate-driven shocks to the marginal revenue product of individual firms. By examining firms\u27 employment and wage responses, we estimate the inverse elasticity of the labor supply they face a direct indicator of labor market power. In our preferred specification, we estimate that workers employed in exporting firms produce on the margin 83% more than what they earn as wage. We investigate the correlations between labor market power and firm characteristics, country attributes, and labor market institutions and regulations. We find that labor market power is higher for firms in countries where unions, collective bargaining, and unemployment protection are less prevalent
Climate Change and Sovereign Risk: A Regional Analysis for the Caribbean
Get PDFClimate change is an existential threat to the world economy, with complex, evolving and nonlinear dynamics that remain a source of great uncertainty. There is a bourgeoning literature on the economic impact of climate change, but research on how climate change affects sovereign risks is limited. This paper provides forward-looking regional analysis of the effects of climate change on sovereign creditworthiness, probability of default and the cost of borrowing for the Caribbean economies. Our results indicate that there is substantial variation in the sensitivity of ratings to climate change across the region which is due to the non-linear nature of ratings. Our findings improve the identification and management of sovereign climate risk and provides a forward-looking assessment of how climate change could affect the cost of accessing international finance. As such, it leads to a suite of policy options for countries in the region
Better Jobs Index 2024. Quality of employment in Latin America: Between Informality and Insufficient Wages
Get PDFThe new edition of the Better Jobs Index in Latin America and the Caribbean highlights that, although the quality of employment has reached its highest point since 2010, most of the working-age population in the region still face informal conditions and insufficient wages to overcome poverty. The Better Jobs index, which is updated every two years, measures employment in the region comprising two dimensions: quantity and quality of jobs. Quantity is measured by labor force participation and occupation, while quality is measured by labor formality and living wages. From 2010 to 2022, the overall index has shown gradual growth, albeit with notable fluctuations. In terms of gender and age gaps, significant differences persist in the quantity and quality of employment between men and women, as well as between young and adult workers. Although some reductions in these gaps have been observed over time, there is still a considerable way to go to achieve equity in the labor market. Uruguay, Chile, and Costa Rica are highlighted as the countries with the best scores in employment quality by 2022, but most countries have shown improvements since 2010
Digital Hospital: Pilot implementation of interoperability systems at the National Cancer Institute (INCAN)
Get PDFIn 2020, during the COVID-19 pandemic, the "Digital Hospital" project of Genexus Consulting was selected from 500 proposals in the call of the Inter-American Development Bank (IDB) to promote innovative and technological solutions in the field of health in Paraguay. This project sought to implement a health information exchange platform at the National Cancer Institute (INCAN) to improve patient care through interoperability of information systems. In July 2023, pilot implementation began at INCAN, marking the beginning of a digital transformation in care for cancer patients. Despite the challenges, the platform has enabled safe exchange of medical data, improving coordination and continuity of care. In April 2023, the project was successfully delivered, meeting the deadlines set. The platform is expected to replicate in other health institutions in Paraguay and the region, aligning itself with the IDB\u27s objectives of improving access to health services and reducing inequalities
Land Regularization and Technical Efficiency in Agricultural Production: An Empirical Study in Andean Countries
Get PDFThis study evaluates the impact of land tenure security on technical efficiency of smallholder farmers in the three countries of the Andean region, Bolivia, Ecuador and Peru. Using cross-sectional data for 5,288 smallholder farmer households, we employ a multi-stage methodology, including propensity score matching, selectivity bias-corrected stochastic production frontier, and meta frontier analysis to address concerns relating to endogeneity. Results reveal that farmers who hold a formal land title on average exhibit technical efficiency that is 38.6% higher than among farmers without legal title, though effects and magnitudes vary by country. Furthermore, we explore the pathways through which tenure security may affect technical efficiency and find that possessing legal title is associated with higher likelihood of accessing credit and making productive investments in land. Our findings imply that comprehensive land regularization is crucial to enhancing agricultural productivity levels among smallholder farmers in the region
Revenue Statistics in Latin America and the Caribbean 2024
Get PDFThis report compiles comparable tax revenue statistics over the period 1990-2022 for 27 Latin American and Caribbean (LAC) countries. It provides harmonised data on the level and structure of tax revenues based on the OECD classification of taxes, thereby enabling comparison of national tax systems on a consistent basis, both across the region and with other economies globally. The report includes two special features: one examines fiscal revenues from non-renewable natural resources in the LAC region in 2022 and 2023, while the second calculates equivalent fiscal pressure in the LAC region. The publication is jointly undertaken by the OECD Centre for Tax Policy and Administration, the OECD Development Centre, the Inter-American Center of Tax Administrations (CIAT), the Economic Commission for Latin America and the Caribbean (UN-ECLAC), and the Inter-American Development Bank (IDB)
Environmental Damage News and Stock Returns: Evidence from Latin America
Get PDFThis paper studies the interplay between environmental performance and financial valuation of firms in Latin America and the Caribbean. We provide insights into how environmental considerations are integrated into financial decision-making and investor behavior by analyzing the stock market reaction to environmental news of firms with different levels of carbon emission intensity. We find that high emission intensity firms tend to underperform after the release of environmental damage news. Our baseline estimates indicate that, after the release of such news, firms at the 75th percentile of the distribution of emission intensity experience stock returns that are 17% lower than those of firms at the 25th percentile of the distribution of emission intensity. These results suggest that investors care about and price carbon risk, but only when this risk is salient
The Evolution of External Shocks and Macrofiscal Outcomes in the Andes
Get PDFThe abundance of natural resources can adversely affect the macroeconomic stability of countries. Developing economic institutions that support the proper management of extractive industry resources is one of the fundamental factors for maintaining macroeconomic stability and generating long-term economic growth. This paper evaluates the impact of terms-of-trade shocks on fiscal performance and economic growth in the countries of the Andean region. To adequately capture the variation in both the magnitude of shocks and the sensitivity of economic and fiscal variables to those shocks, this paper makes use of a TV-SVAR model. This method allows us to evaluate whether the presence of fiscal institutions change their sensitivity to external disturbances. The results presented in this paper show a time-varying dynamic of both (1) terms-of-trade shocks and (2) the sensitivity of the Andean regions economies to such shocks, although with marked heterogeneity across countries. This heterogeneity coincides with the uneven development of the economic institutions in the countries of the region. The results highlight the importance of developing adequate economic policy frameworks in order to adequately mitigate the volatility in the terms-of-trade
Socio-Economic Disparities in Latin America among Same-Sex and Different-Sex Couples (Technical Note)
No full textEconomic research on sexual minority individuals in developing countries has been constrained by the scarcity of nationally representative surveys asking about sexual orientation. This paper merges and harmonizes census data from eight Latin American countries to document socio-economic disparities between different-sex and same-sex couples. Overall, although there are some exceptions, individuals in same-sex couples are on average younger than women and men in different-sex couples, are less likely to identify as Indigenous (while differentials for African descendants vary by country), have higher education levels, and are less likely to live with children. Gaps in unemployment rates by couple type and sex differ by country. Both women and men in same-sex couples have higher average incomes in Brazil. The same holds for women in Mexico, while men in same-sex couples have lower average incomes. Finally, homeownership rates are lower among same-sex couples, while welfare differentials as proxied by ownership of assets and dwelling characteristics vary by country
Access to Finance for MSMEs in Belize: Challenges and Opportunities
Get PDFBelize has grown significantly in the post-pandemic era, but achieving sustainable and robust growth requires structural reforms to enhance private investment as an engine for growth. The expansion of entrepreneurship and the Micro, Small and Medium-sized firms (MSMEs) base have been a result of the transformation of the Belizean economy in the last decades. While MSMEs have the potential to boost productivity and sustainable growth if they are given the conditions to expand, at the same time MSMEs in Belize face several challenges that impact on the mortality rate of businesses. Constraints to access to productive financing is found to be a key factor behind a business closure. This document analyzes the factors of the ecosystem that influence the supply and the demand for financing for MSMEs and provides recommendations to unlock the MSMEs\u27 potential through increased access to finance