In the 1990s and early 2000s, Belize grew faster than its regional peers. By the mid-2000s, however, economic growth had slowed down to the regional average. A vicious circle of low growth and increasing public debt has been clouding Belize’s outlook. This paper applies a growth diagnostic approach based on the Hausmann-Rodrik-Velasco framework to investigate the main growth constraints and opportunities for higher growth in Belize. Improvements in access to finance and in the business climate could unlock Belize’s strengths.
Cross-border payment inefficiencies are a significant barrier to trade both within Latin America and the Caribbean (LAC) and between LAC and other regions. This paper provides a comprehensive review of historical efforts undertaken by various countries within the LAC region to address these challenges. We also explore the potential of recent financial innovations, such as digital currencies and blockchain technology, to enhance cross-border payments. While new technologies do not substitute for prudent and credible macroeconomic policies, leveraging these technologies can help LAC countries reduce transaction costs and times, thus enhancing economic efficiency and fostering deeper regional and global trade relationships.
In the past decade, fintech has shaken up the financial sector in Latin America providing innovations in lending, payments, insurance, and regulation and compliance. This paper examines this development by focusing on both fintech services and regulation. Exploring fintech’s macro-critical impact using country- and bank-level data, we find that booming financial technologies in Latin America have helped boost competition in the banking sector and inclusion. Additionally, we demonstrate that fintech firms in Latin America experienced robust growth even during the pandemic supported by external funding. Finally, we discuss how regulators are addressing the risks associated with financial technologies and how they are leveraging fintech tools in their supervisory activities.
Traditional models relying on standard variables like the U.S. Hispanic unemployment rate fared well in explaining remittances to CAPDR and Mexico during the pre-pandemic period. However, they fail to predict the sustained growth in remittances since June 2020, including the significant increase in the average amount remitted. Using data from over 300 remittances corridors (from 23 U.S. states to 14 Salvadoran departments), we find that this increase is primarily explained by the dynamics of U.S. states real wages, as well as more temporary factors like U.S. unemployment relief (including the extraordinary pandemic support), U.S. states mobility, and COVID-19 infections at home. The paper also analyses what role the change in the modes of transmission of remittances, additional U.S. fiscal stimulus and U.S. labor market developments, especially in the sectors were CAPDR and Mexican migrants preponderantly work, play in explaining aggregate remittances growth.
The interaction of the solar and heat radiation with the atmosphere and surface is the subject of the book. It is useful also for wide circle scientists involved in environmental studies. The book contains the description of 17 computer studying programs supporting different topics of courses. It includes only the base ground for comprehension of key topics and provides the accomplishment of practical works with using specially elaborated computer programs. Themes of practical works reflect main sections of mentioned courses of lectures. The packet of computer programs is added for solution of direct and inverse problems. It promotes deep and reliable comprehension of corresponding topics by students. All described approaches and computer programs are valuable resources for solving radiative transfer problems and they could be used by students for courses and diploma studies concerned atmospheric optics.
This is the story of the aerial element of the Battle for Moscow between 1941 and 1942, known to the Germans as Operation Typhoon. In October 1941, Operation Typhoon and the battle for Moscow began. According to Hitler's plan, it was to be the ‘last offensive’, after which nothing could stop Germany from conquering Britain and the rest of Europe – but first he had to overcome the Soviets and especially their air force. Air Battle for Moscow is the first detailed description of one of the most vital, yet little known, air battles of the Second World War. The battle for Moscow opened with the flights of long-range reconnaissance aircraft, which photographed Moscow and the Kremlin. Then, on 22 July 1941, Operation Clara Zetkin, the Luftwaffe’s aerial assault on Moscow, began. But the Luftwaffe was opposed by the ‘Stalin's Falcons’, the elite 6th Air Defence Corps, which defended the Soviet capital with a determination which saw bitter duels to the death and horrendous casualties on both sides. The book presents new facts about this dramatic battle and describes in detail the actions of the aircrew on both sides. Yet this is not just the story or the air war. The authors also describe the lives of people during the war, of suppressed anti-Soviet opposition in Moscow, and of the bloodthirsty and inhuman actions of the Stalin regime. The book also tells of the fate of German pilots caught in Russian captivity, and the adventures of those who were able to survive and escape from the Russian executioners. Many myths concerning the battle are also challenged, such as the often-stated belief that Moscow’s anti-aircraft defenses were the most powerful in the world and that it was the Soviets who were the finest pilots. In this comprehensive account, details of losses, biographical outlines of the key individuals, analyses of the different aircraft and a full chronology of the battle are presented, as well as numerous exclusive photos, documents and drawings. But it is the stories of those who fought in the Battle for Moscow that, undeniably, have the greatest impact. The harrowing tales of death and survival in conditions that are almost beyond description demonstrate just how important this conflict was to both Russia and the Third Reich and, ultimately, to the outcome of the Second World War.
This book explores the major differences between the kinds of risk encountered in different sectors of industry - production (including agriculture) and services - and identifies the main features of accidents within different industries. Because of these differences, unique risk-mitigation measures will need to be implemented in one industry that cannot be implemented in another, leading to large managerial differences between these broad economic sectors. Based on the analysis of more than 500 disasters, accidents and incidents - around 230 cases from the production sector and around 280 cases from the service sector - the authors compare the risk response actions appropriate within different sectors, and establish when and how it is possible to generalize the experience of dealing with risks in any given industry to a wider field of economic activity. This book is mainly intended for executives, strategists, senior risk managers of enterprise-wide organizations and risk management experts engaged in academic or consulting work. By setting out clearly the sector differences in risk management, the authors aim to improve the practice of general risk assessment with regard to identifying and prioritizing risks, and of risk control with regard to planning appropriate mitigation measures.
Is there a one-size-fits-all approach to inclusive growth? We look at four key case studies across advanced and emerging markets—the Nordics, India, Brazil, and Egypt—to try to answer this question. We highlight qualitatively in these countries the key components of inclusive growth models, outcomes from these models, and the road ahead in the respective countries. Some of the analysis focuses on co-operative labor markets in the Nordics, direct benefit transfers in India, the role of social assistance and commodity boom in Brazil, and the inequality puzzle in Egypt. The paper finds that there is a lack of homogeneity among the approaches by these countries and identifies the need for customized solutions to inclusive growth. A one-size-fits-all approach doesn’t seem to work. The more customized the inclusive growth model, the better the overall outcome.
The Siege of Leningrad was one of the most brutal battles of the Second World War. The second largest and most populous city in the Soviet Union, Leningrad, now St. Petersburg, was one of the three priority targets of the German invasion, Operation Barbarossa. A total of 333 large military factories were concentrated in Leningrad and, accordingly, 565,000 workers lived there, producing tanks, aircraft, artillery and warships. On 10 July 1941, German tank divisions, having broken through the front south of the city of Pskov, reached the town of Luga. From there, Hitler’s forces had just over 110 miles to go to Leningrad. Meanwhile, the city was feverishly preparing for defense. Stalin’s deputies, Zhdanov and Voroshilov, planned to use the entire combat-ready population of Leningrad for that purpose. Believing that the city would soon be captured by the Germans, Stalin ordered the immediate evacuation of military factories and skilled workers from Leningrad to the East. Before the city was completely blockaded, most of the valuable equipment had been removed. However, the remaining civilian population, including about 400,000 children, were left to their fate. In early September 1941, German divisions supported by the Luftwaffe’s VIII Fliegerkorps, captured the town of Shlisselburg. Leningrad was now cut off from the rest of the Soviet Union. Hitler believed that the city would soon echo to the sound of German jackboots. Leningrad, however, did not give up. In the autumn of 1941, the Wehrmacht did not have enough forces to take the city and for three long years the main means of fighting its defenders were the Luftwaffe and long-range artillery. In September 1941, when the systematic bombing and shelling began, many thousands of families tried to leave Leningrad, but nearly all of the escape routes were cut off. Food supplies in the city sharply decreased. In this book the authors explore the full story of the German and Soviet aerial battles in the Leningrad sector during the siege. There are devastating details of the bombing of the starving population, numerous attempts by the Luftwaffe to destroy the Red Baltic Fleet, and air attacks against the ‘Road of Life’, along which vital food and ammunition were delivered to the city, and combats in the skies over Leningrad and its surroundings. Revealing what was happening in the air and on the ground, as well as in the German and Russian headquarters, the authors explain why, in spite of numerous successes, the Luftwaffe failed to help force the surrender of Leningrad.
This monograph develops adaptive stochastic methods in computational mathematics. The authors discuss the basic ideas of the algorithms and ways to analyze their properties and efficiency. Methods of evaluation of multidimensional integrals and solutions of integral equations are illustrated by multiple examples from mechanics, theory of elasticity, heat conduction and fluid dynamics. Contents Part I: Evaluation of Integrals Fundamentals of the Monte Carlo Method to Evaluate Definite Integrals Sequential Monte Carlo Method and Adaptive Integration Methods of Adaptive Integration Based on Piecewise Approximation Methods of Adaptive Integration Based on Global Approximation Numerical Experiments Adaptive Importance Sampling Method Based on Piecewise Constant Approximation Part II: Solution of Integral Equations Semi-Statistical Method of Solving Integral Equations Numerically Problem of Vibration Conductivity Problem on Ideal-Fluid Flow Around an Airfoil First Basic Problem of Elasticity Theory Second Basic Problem of Elasticity Theory Projectional and Statistical Method of Solving Integral Equations Numerically
This book is the first scientific publication on diseases caused by agents circulating in natural environments independently from humans, covering the whole territory of the Russian Federation. It contains diverse and multifaceted information, both in textual and cartographic form. The book focuses on the historical and current distribution of natural-focal diseases in Russia, epidemiological aspects, natural and socio-economic determinants conducing natural foci. With a series of maps this book depicts population morbidity rates in particular regions and on a national level for the 21st century. With numerous color illustrations this book appeals to a wide audience and is of particular interest to geographers, environmental workers, epidemiologists and other specialists interested in environmental and public health issues.
This book summarizes the author’s research resulted in developing the satellite radiothermovision approach which allows retrieving dynamical and energy characteristics of atmospheric mesoscale and synoptic-scale processes based on a close scheme of satellite passive radiometry data processing. The book introduces new applications of the satellite passive microwave observations to detailed systematic study of tropical cyclones’ evolution, climatology and characteristics of atmospheric river, parameters of global atmospheric circulation and their variations on climatically significant scales. The results presented in the book demonstrate a clear relation between the convergence/divergence of latent heat from the lower atmosphere to the center of tropical cyclone with variations of its intensity and provide a better insight into the tropical cyclone dynamical energy balance based on remote data.
Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.
Presenting a novel approach to wave theory, this book applies mathematical modeling to the investigation of sea waves. It presents problems, solutions and methods, and explores issues such as statistical properties of sea waves, generation of turbulence, Benjamin-Feir instability and the development of wave fields under the action of wind. Special attention is paid to the processes of dynamic wind-wave interaction, the formation of freak waves, as well as the role that sea waves play in the dynamic ocean/atmosphere system. It presents theoretical results which are followed by a description of the algorithms used in the development of wave forecasting models, and provides illustrations to assist understanding of the various models presented. This book provides an invaluable resource to oceanographers, specialists in fluid dynamics and advanced students interested in investigation of the widely known but poorly investigated phenomenon of sea waves.
This paper investigates factors that predict variation in digital and non-digital remittance fees over time and across countries, exploring differences between CAPDR and other regions. The paper fills a void in the literature on how country- and corridor-specific factors relate to remittance fees at different levels of digitalization of the transaction mode. It also complements stylized facts and regression analysis with a survey analysis of the CAPDR authorities’ views on the latest developments, possibilities, and risks related to digital remittances with a view to gauging the authorities’ potential role in further reducing the cost of cross-border payments more generally and remittances fees in particular. The paper finds a clear trend of declining remittance fees across countries and at any level of digitalization, albeit they remain higher for CAPDR countries relative to non-CAPDR countries. More competition, financial and digital development in receiving countries—such as debit/credit card ownership or bank branch penetration—are associated with lower remittance fees, especially in CAPDR. The surveyed authorities actively explore the use of digital money to advance domestic payment systems, expedite financial inclusion, and lower remittances fees, yet see considerable risks, especially for preserving monetary sovereignty in CAPDR.
Cross-border payment inefficiencies are a significant barrier to trade both within Latin America and the Caribbean (LAC) and between LAC and other regions. This paper provides a comprehensive review of historical efforts undertaken by various countries within the LAC region to address these challenges. We also explore the potential of recent financial innovations, such as digital currencies and blockchain technology, to enhance cross-border payments. While new technologies do not substitute for prudent and credible macroeconomic policies, leveraging these technologies can help LAC countries reduce transaction costs and times, thus enhancing economic efficiency and fostering deeper regional and global trade relationships.
In the past decade, fintech has shaken up the financial sector in Latin America providing innovations in lending, payments, insurance, and regulation and compliance. This paper examines this development by focusing on both fintech services and regulation. Exploring fintech’s macro-critical impact using country- and bank-level data, we find that booming financial technologies in Latin America have helped boost competition in the banking sector and inclusion. Additionally, we demonstrate that fintech firms in Latin America experienced robust growth even during the pandemic supported by external funding. Finally, we discuss how regulators are addressing the risks associated with financial technologies and how they are leveraging fintech tools in their supervisory activities.
The interaction of the solar and heat radiation with the atmosphere and surface is the subject of the book. It is useful also for wide circle scientists involved in environmental studies. The book contains the description of 17 computer studying programs supporting different topics of courses. It includes only the base ground for comprehension of key topics and provides the accomplishment of practical works with using specially elaborated computer programs. Themes of practical works reflect main sections of mentioned courses of lectures. The packet of computer programs is added for solution of direct and inverse problems. It promotes deep and reliable comprehension of corresponding topics by students. All described approaches and computer programs are valuable resources for solving radiative transfer problems and they could be used by students for courses and diploma studies concerned atmospheric optics.
In the 1990s and early 2000s, Belize grew faster than its regional peers. By the mid-2000s, however, economic growth had slowed down to the regional average. A vicious circle of low growth and increasing public debt has been clouding Belize’s outlook. This paper applies a growth diagnostic approach based on the Hausmann-Rodrik-Velasco framework to investigate the main growth constraints and opportunities for higher growth in Belize. Improvements in access to finance and in the business climate could unlock Belize’s strengths.
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