Luis Serven's Books

Lessons from NAFTA

For Latin America and the Caribbean

By: Luis Serven,Daniel Lederman,William F. Maloney

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Lessons from NAFTA

For Latin America and the Caribbean

By: Luis Serven,Daniel Lederman,William F. Maloney

Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.

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Page Count

432

Publisher

World Bank Publications

Published Date

ISBN 10

0821383744

ISBN 13

9780821383742

The Limits of Stabilization

Infrastructure, Public Deficits, and Growth in Latin America

By: William Easterly,Luis Serven

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The Limits of Stabilization

Infrastructure, Public Deficits, and Growth in Latin America

By: William Easterly,Luis Serven

Over the 1980s and 1990s most Latin American countries witnessed a retrenchment of the public sector from infrastructure provision and an opening up of infrastruture activities to the private sector. This book analyses the consequences of these policy changes.

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Page Count

236

Publisher

Stanford University Press

Published Date

ISBN 10

0804749728

ISBN 13

9780804749725

Interventions to Reduce Logistic Costs for Trade Competitiveness and Poverty

A Productive Transformation Platform

By: Jose Luis Guasch

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Interventions to Reduce Logistic Costs for Trade Competitiveness and Poverty

A Productive Transformation Platform

By: Jose Luis Guasch

Logistics are a critical element for country competitiveness and economic performance, including poverty reduction. Most emerging countries such as Asia, Africa, Latin America and the Caribbean are focusing on export-led growth strategies and poverty reduction strategies, and their performance is adversely affected by their high logistic costs that range from 10% to 50% of product value. This book illustrates the relevance and impact of logistics on these areas while also offering an effective logistics and infrastructure framework that addresses the full spectrum of the productive chain (upstream, midstream and downstream). It provides a structured agenda for designing and implementing holistic policy interventions (soft and hard components) to reduce logistic costs. Featuring case studies and examples of specific interventions and their impact in many countries, a number of them in Latin America, this book is useful to scholars, academics, practitioners and policy makers interested in the reduction of logistics costs and poverty reduction in the global economy.

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Page Count

107

Publisher

Springer Nature

Published Date

ISBN 10

3030949680

ISBN 13

9783030949686

The Impact of Private Sector Participation in Infrastructure

Lights, Shadows, and the Road Ahead

By: Luis A. Andres,J. Luis Guasch,Thomas Haven,Vivien Foster

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The Impact of Private Sector Participation in Infrastructure

Lights, Shadows, and the Road Ahead

By: Luis A. Andres,J. Luis Guasch,Thomas Haven,Vivien Foster

Infrastructure plays a key role in fostering growth and productivity and has been linked to improved earnings, health, and education levels for the poor. Yet Latin America and the Caribbean are currently faced with a dangerous combination of relatively low public and private infrastructure investment. Those investment levels must increase, and it can be done. If Latin American and Caribbean governments are to increase infrastructure investment in politically feasible ways, it is critical that they learn from experience and have an accurate idea of future impacts. This book contributes to this aim by producing what is arguably the most comprehensive privatization impact analysis in the region to date, drawing on an extremely comprehensive dataset.

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Page Count

382

Publisher

World Bank Publications

Published Date

ISBN 10

0821374109

ISBN 13

9780821374108

Granting and Renegotiating Infrastructure Concessions

Doing it Right

By: J. Luis Guasch

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Granting and Renegotiating Infrastructure Concessions

Doing it Right

By: J. Luis Guasch

During the 1990s, infrastructure concessions were hailed as the solution to Latin America's endemic infrastructure deficit, by combining private sector efficiency with rent dissipation brought about by competition. This publication examines the design and implementation of over 1,000 examples of concession contracts, in order to identify the problems that have occurred in the process. It goes on to highlight lessons to be learned for the future, in order to realise the potential benefits of infrastructure reform and to contribute to economic growth and poverty reduction.

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Page Count

212

Publisher

World Bank Publications

Published Date

ISBN 10

0821357921

ISBN 13

9780821357927

Debt, Investment, and Growth in Developing Countries with Segmented Labor Markets

By: Mr.Edward F Buffie,Luis-Felipe Zanna,Mr.Christopher S Adam,Lacina Balma,Dawit Tessema,Mr.Kangni R Kpodar

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Debt, Investment, and Growth in Developing Countries with Segmented Labor Markets

By: Mr.Edward F Buffie,Luis-Felipe Zanna,Mr.Christopher S Adam,Lacina Balma,Dawit Tessema,Mr.Kangni R Kpodar

We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG) model widely used at the IMF since 2012. The new DIG-Labor models feature segmented labor markets, efficiency wages and open unemployment, and an informal non-agricultural sector. These features allow for a deeper examination of macroeconomic and fiscal policy programs and their impact on labor market outcomes, inequality, and poverty. The paper illustrates the model's properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different mixes of investment in human capital and infrastructure. We show that investment in human capital is much more effective than investment in infrastructure in promoting long-run economic development when investments earn their average estimated returns. The decision about how much to invest in human capital versus infrastructure involves, however, an acute intertemporal trade-off. Because investment in education affects labor productivity with a long lag, it takes 15+ years before net national income, the private capital stock, real wages for the poor, and formal sector employment surpass their counterparts in a program that invests mainly in infrastructure. The ranking of alternative investment programs depends on the policymakers' social discount rate and on the weight of distributional objectives in the social welfare function.

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Publisher

International Monetary Fund

Published Date

ISBN 10

1513545639

ISBN 13

9781513545639

Public Investment, Growth, and Debt Sustainability

Putting together the Pieces

By: Mr.Andrew Berg,Rafael Portillo,Mr.Edward F. Buffie,Ms.Catherine A. Pattillo,Luis-Felipe Zanna

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Public Investment, Growth, and Debt Sustainability

Putting together the Pieces

By: Mr.Andrew Berg,Rafael Portillo,Mr.Edward F. Buffie,Ms.Catherine A. Pattillo,Luis-Felipe Zanna

We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (iii) the fiscal policy reactions necessary to ensure debt-sustainability; and (iv) the macroeconomic adjustment required to ensure internal and external balance. Well-executed high-yielding public investment programs can substantially raise output and consumption and be self-financing in the long run. However, even if the long run looks good, transition problems can be formidable when concessional financing does not cover the full cost of the investment program. Covering the resulting gap with tax increases or spending cuts requires sharp macroeconomic adjustments, crowding out private investment and consumption and delaying the growth benefits of public investment. Covering the gap with domestic borrowing market is not helpful either: higher domestic rates increase the financing challenge and private investment and consumption are still crowded out. Supplementing with external commercial borrowing, on the other hand, can smooth these difficult adjustments, reconciling the scaling up with feasibility constraints on increases in tax rates. But the strategy may be also risky. With poor execution, sluggish fiscal policy reactions, or persistent negative exogenous shocks, this strategy can easily lead to unsustainable public debt dynamics. Front-loaded investment programs and weak structural conditions (such as low returns to public capital and poor execution of investments) make the fiscal adjustment more challenging and the risks greater.

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Page Count

114

Publisher

International Monetary Fund

Published Date

ISBN 10

1475577257

ISBN 13

9781475577259

Economic Growth with Equity

Challenges for Latin America

By: José Luis Machinea

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Economic Growth with Equity

Challenges for Latin America

By: José Luis Machinea

This book analyses the development challenge faced by Latin America at a time at which the concerns for the large inequality in the region are at a peak. This volume focuses on growth-with-equity, and is written by an outstanding group of Latin American and international researchers and policy-makers.

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Page Count

262

Publisher

Springer

Published Date

ISBN 10

0230800912

ISBN 13

9780230800915

Book's by Luis Serven

Lessons from NAFTA

Lessons from NAFTA

The Limits of Stabilization

The Limits of Stabilization

Interventions to Reduce Logistic Costs for Trade Competitiveness and Poverty

Interventions to Reduce Logistic Costs for Trade Competitiveness and Poverty

The Impact of Private Sector Participation in Infrastructure

The Impact of Private Sector Participation in Infrastructure

Granting and Renegotiating Infrastructure Concessions

Granting and Renegotiating Infrastructure Concessions

Debt, Investment, and Growth in Developing Countries with Segmented Labor Markets

Debt, Investment, and Growth in Developing Countries with Segmented Labor Markets

Public Investment, Growth, and Debt Sustainability

Public Investment, Growth, and Debt Sustainability

Economic Growth with Equity

Economic Growth with Equity

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