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22. Latin America's tourism boom — Evangelicalism in Brazil.
- Author:
- Olivia Ruggles-Brise
- Publication Date:
- 03-2014
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Latin America's travel and tourism industry took a hit during the 2008–2009 recession. International arrivals slowed and tourists had less money to spend. But over the longer term, tourism has been a success story—and forecasts suggest continued growth. That should surprise no one. Latin America's sheer diversity in scenic beauty, cuisine and cultures has combined with an increasingly sophisticated domestic industry to cater to every kind of traveler. Since 2006, tourism's direct contribution to GDP in Latin America has grown by 7 percent in real terms—more than double the world average—to reach an estimated $134 billion in 2011. This figure, which is projected to rise to $224 billion in 2022, includes revenue generated by tourism-oriented services such as hotels and airlines, as well as restaurant and leisure industries that cater to tourists. Forecasts for this year suggest tourism's direct contributions will grow by 6.5 percent, behind only Northeast and South Asia (6.7 percent).
- Topic:
- Economics
- Political Geography:
- United States, Brazil, and Latin America
23. Effective Public Policies and Active Citizenship: Brazil's experience of building a food and nutrition security system
- Author:
- Marília Leão and Renato S. Maluf
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- Oxfam Publishing
- Abstract:
- Brazil has achieved promising results in the fight against hunger and poverty. This paper describes the path toward building a new governance framework for the provision of public policies that initiated a virtuous cycle for the progressive elimination of hunger and poverty. However, it is important to emphasize that the country continues to be characterized by dynamics that generate inequalities and threaten social and environmental justice.
- Topic:
- Agriculture, Economics, Poverty, Food, and Governance
- Political Geography:
- Brazil and Latin America
24. Latin America's Changing Global Connections
- Author:
- Leani García
- Publication Date:
- 04-2014
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- There's no denying it; whether it's share of trade or percent of foreign direct investment (FDI) in the hemi sphere, the U.S.' economic presence has decreased. Even when the U.S. didn't slip a place in terms of a trade partner, its overall share of countries' imports or exports declined across the board, while other countries' increased—especially China's. In the same period, in Argentina and Brazil, the share of U.S. FDI declined by 22% and 27%, respectively.
- Topic:
- Economics and Foreign Direct Investment
- Political Geography:
- Brazil, Argentina, and Latin America
25. The Next Step: Latin America's Growing Economies
- Author:
- Alejandro M. Werner and Oya Celasun
- Publication Date:
- 04-2014
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Latin America has bounced back economically in the past decade. Between 2002 and 2012, the region has seen strong and stable growth, low inflation and improved economic fundamentals. As a result, the weight of the region in global economic output increased from about 6 percent in the 1990s to 8 percent in 2012. With that has come a greater voice in the global economy.
- Topic:
- Economics
- Political Geography:
- Brazil, Latin America, and Mexico
26. Brazil's Second-Best Financial Strategy
- Author:
- Seth Colby
- Publication Date:
- 04-2014
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- In November 2009, the cover of The Economist showed the iconic Christ statue overlooking Rio de Janeiro blasting off into outer space. This image, along with the cover headline, "Brazil Takes Off," represented the Carnaval-like euphoria about Brazil that infected journalists and financial markets at the time, buoyed by the country's impressive economic performance in the wake of the 2008 global financial crisis.
- Topic:
- Economics and Financial Crisis
- Political Geography:
- Brazil and Latin America
27. Celebrating Germany in Brazil — Dominica hosts the World Creole Festival — Tackling Mexico City's traffic jams —10 Things to Do in Antigua
- Publication Date:
- 04-2014
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Prost, Brazil! Grab a stein-full of caipirinha and stroll down to Ipanema beach in your lederhosen—it's Germany-Brazil Year in Brazil. The yearlong festival, aimed at deepening German-Brazilian relations, kicked off in May with the opening of the German-Brazilian Economic Forum in São Paulo. “Brazil is one of the most successful new centers of power in the world,” says Guido Westerwelle, Germany's foreign minister. “We want to intensify cooperation with Brazil, not only economically but also culturally.” It's no surprise that Brazil, the sixth-largest economy in the world, has caught the attention of Europe's financial powerhouse. Brazil is Germany's most important trading partner in Latin America, accounting for $14.2 billion in imports in 2012. With some 1,600 German companies in Brazil providing 250,000 jobs and 17 percent of industrial GDP, it's an economic relationship that clearly has mutual benefits.
- Topic:
- Security, Economics, and Environment
- Political Geography:
- United States, New York, Europe, Brazil, Germany, and Mexico
28. The Defense Acquisition Trilemma: The Case of Brazil
- Author:
- Patrice Franko
- Publication Date:
- 01-2014
- Content Type:
- Working Paper
- Abstract:
- Brazil is a puzzling new player in the global system. Emerging as a complex international actor, it has come to be seen as a significant economic competitor and dynamic force in world politics. But transformational changes in the economic and political realms have not been accompanied by advances in military power. While Brazil has entered the world stage as an agile soft power exercising influence in setting global agendas and earning a seat at the economic table of policymakers, its military capacity lags. The national security strategy announced under President Luiz Inácio Lula da Silva in 2008 intended to redress this power gap. President Dilma Rousseff 's 2011 White Paper—so detailed that it is called a "White Book"—provides the conceptual roadmap to achieve a new military balance. But military modernization is still a work in progress.
- Topic:
- Security, Defense Policy, Development, Economics, and Emerging Markets
- Political Geography:
- Brazil and Latin America
29. Comparing the Incidence of Taxes and Social Spending in Brazil and the United States
- Author:
- Nora Lustig, Timothy Smeeding, Sean Higgins, and Whitney Ruble
- Publication Date:
- 03-2014
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- We perform the first comprehensive fiscal incidence analyses in Brazil and the US, including direct cash and food transfers, targeted housing and heating subsidies, public spending on education and health, and personal income, payroll, corporate income, property, and expenditure taxes. In both countries, primary spending is close to 40 percent of GDP. The US achieves higher redistribution through direct taxes and transfers, primarily due to underutilization of the personal income tax in Brazil and the fact that Brazil's highly progressive cash and food transfer programs are small while larger transfer programs are less progressive. However, when health and non-tertiary education spending are added to income using the government cost approach, the two countries achieve similar levels of redistribution. This result may be a reflection of better-off households in Brazil opting out of public services due to quality concerns rather than a result of government effort to make spending more equitable.
- Topic:
- Economics, Political Economy, Monetary Policy, and Food
- Political Geography:
- United States and Brazil
30. Amazonian policy and politics, 2003-13: deforestation, hydropower and biofuels
- Author:
- Eduardo Viola and Larissa Basso
- Publication Date:
- 04-2014
- Content Type:
- Working Paper
- Institution:
- Norwegian Centre for Conflict Resolution
- Abstract:
- In the period 2003-13 Brazil experienced important economic and political developments: it became a much more relevant international player; its economy entered the world's top ten; and society became more politically active and expressed its complaints more aggressively. Amazonian policy and the politics of the period developed in this context, and three issues played a central role. Firstly, a cutback in deforestation led to a decrease in Brazil's carbon emissions by around one-third, which is a unique situation in the world. Secondly, despite the region's hydropower potential, projects developed slowly due to new environmental requirements and societal opposition. Thirdly, the production of biofuels was greatly encouraged by the introduction of flexible-fuel vehicles technology, but lost momentum after the discovery of offshore oil reserves; and there was a heated debate about the relationship between the expansion of sugar-cane plantations and deforestation after the decline in deforestation demonstrated that such plantations were not its main cause. Analysis indicates that there were three trends in Amazonian environmental policy and politics during the decade: continuity of former policies (2003-05), an upward trend towards sustainability (2005-10) and a downward trend (2010-13). The results of the 2014 elections are key to predicting future developments.
- Topic:
- Economics, Environment, Human Rights, Politics, and Governance
- Political Geography:
- Brazil and South America
31. Rising powers in Africa: what does this mean for the African peace and security agenda?
- Author:
- Elling N. Tjønneland
- Publication Date:
- 03-2014
- Content Type:
- Working Paper
- Institution:
- Norwegian Centre for Conflict Resolution
- Abstract:
- Much has been written about the role of the rising or emerging powers and their accelerating economic engagement in Africa. Much less is known about how they contribute to or impact on the African peace and security agenda. This report takes a comparative look at the roles of China, India, Brazil and South African in relation to the African Union and its African Peace and Security Architecture. Each of these four countries has a distinct commercial and corporate approach to Africa, despite a shared political commitment to South-South cooperation. However, as they extend their economic engagement they are becoming more sensitive to insecurity and volatility. The Asian and Latin American countries, which traditionally have strongly emphasised non-intervention, are gradually becoming more involved in the African security agenda. They are increasingly concerned about their image and reputation and the security of their citizens and business interests, and are becoming more prepared to act multilaterally and to work with others in facilitating security and stability. As an African power, South Africa plays a more direct role and has emerged as a major architect of the continent's evolving peace and security architecture. This report summarises elements from a broader research project on rising powers and the African peace and security agenda undertaken by CMI in cooperation with NOREF.
- Topic:
- Economics, Human Rights, International Cooperation, Regional Cooperation, and International Security
- Political Geography:
- Africa, India, Asia, South Africa, Brazil, and Latin America
32. Breakout Nations: In Pursuit of the Next Economic Miracles
- Author:
- Selim Erbagci
- Publication Date:
- 02-2014
- Content Type:
- Journal Article
- Journal:
- Insight Turkey
- Institution:
- SETA Foundation for Political, Economic and Social Research
- Abstract:
- Breakout Nations: In Pursuit of the Next Economic Miracles In the last decade, the world has witnessed an unprecedented development of many countries. The speed of this process has not only caused surprise but also has generated questions: How did these countries manage such significant improvements? Why have some other countries failed to reach a similar level of success during the same period? How long could this rapid development last? Ruchir Sharma answers these issues, explaining the common reason for rapid development during the last decade and also the country-specific internal dynamics behind the rapid development of countries such as China, India, Brazil, Turkey, Russia, Mexico, and South Korea. Finally, He also identifies the potential breakout nations for the next decade.
- Topic:
- Development and Economics
- Political Geography:
- Russia, China, Turkey, India, Brazil, and Mexico
33. Invisible legacies: Brazil's and South Korea's shift from ISI towards export strategies under authoritarian rule
- Author:
- Vinícius Rodrigues Vieira
- Publication Date:
- 04-2014
- Content Type:
- Journal Article
- Journal:
- Journal of International Relations and Development
- Institution:
- Central and East European International Studies Association
- Abstract:
- Between the 1960s and the 1970s, Brazil and South Korea adopted similar strategies of development under authoritarian rule: an import substitution industrialisation (ISI) programme later replaced by export strategies (ES), namely, export promotion (EP) in Brazil and export-led growth (EG) in Korea. However, whereas Korea was successful, Brazil began the 1980s facing socio-economic crisis because of imbalances in external accounts. Through the analysis of institutions, organisations, and economic indicators, I conclude that the social-political structure (defined as the institutions and organisations within the economic, political, and social levels) of each nation shaped differently the opportunities given by changes in the organisation of the domestic economy and international contexts between 1945 and 1985. The social-political institutions, which last longer than organisations, come mainly from Portuguese (in the case of Brazil) and Japanese (in the case of South Korea) colonisation. Therefore, the impact of historical junctures, such as economic transformations influenced by changes at the international level, might be restricted to organisations at the domestic level as institutions related to pre-industrial periods persist and constrain the reach of modernisation.
- Topic:
- Development, Economics, and Politics
- Political Geography:
- South Korea, Brazil, and Korea
34. Estimates of Fundamental Equilibrium Exchange Rates, November 2014
- Author:
- William R. Cline
- Publication Date:
- 11-2014
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- This semiannual review finds that most of the major international currencies, including the US dollar, euro, Japanese yen, UK pound sterling, and Chinese renminbi, remain close to their fundamental equilibrium exchange rates (FEERs). The new estimates find this result despite numerous significant exchange rate movements associated with increased volatility in international financial markets at the beginning of the fourth quarter of 2014, and despite a major reduction in the price of oil. The principal cases of exchange rate misalignment continue to be the undervalued currencies of Singapore, Taiwan, and to a lesser extent Sweden and Switzerland, and the overvalued currencies of Turkey, New Zealand, South Africa, and to a lesser extent Australia and Brazil. Even so, the medium-term current account deficit for the United States is already at the outer limit in the FEERs methodology (3 percent of GDP), and if the combination of intensified quantitative easing in Japan and the euro area with the end to quantitative easing in the United States were to cause sizable further appreciation of the dollar, an excessive US imbalance could begin to emerge.
- Topic:
- Economics, Foreign Exchange, International Trade and Finance, and Monetary Policy
- Political Geography:
- Africa, United States, Japan, Turkey, South Africa, Brazil, and New Zealand
35. Robert A. Boland and Victor A. Matheson debate: Do megasports events contribute to economic development?
- Author:
- Robert A. Boland and Victor A. Matheson
- Publication Date:
- 04-2014
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- The urgency and scale of hosting can provide a needed boost to public investment and transform a country's image, infrastructure and business conditions beyond the games. BY ROBERT A. BOLAND Do megasports events contribute to economic development? Yes Following the 2014 World Cup? Read more coverage here. In the next two years, Brazil will host the three largest mega sports events in the world: the 2014 FIFA World Cup this summer, and then the Summer Olympics and Paralympics in Rio in 2016. Other nations in the Americas and across the globe will be watching to see if Brazil's hosting duties lead to broad-based, lasting growth, or are merely an expensive distraction. While history provides examples of both scenarios, hosting such megaevents can provide lasting and transformative value, including to developing nations. Megaevents can accelerate the process of planning for and executing much-needed public investment, while the host countries or cities can rebrand themselves as safe for investment and trade, and as a destination for tourism. For democratic governments, the construction blitz around megaevents can cut through political deadlock, representing the best available chance to quickly bring about focused and necessary change. The ability to develop infrastructure that can improve the quality of life, health and economic strength of the host nation is key. Hosts with plans focusing on self-improvement, investment and the enlargement of existing assets tend to fare better than countries that simply build competition venues.
- Topic:
- Development and Economics
- Political Geography:
- America and Brazil
36. Will Brazil Get What It Expects from the World Cup?
- Author:
- Ricardo Sennes
- Publication Date:
- 06-2014
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- Like any other international mega-event, hosting the FIFA World Cup brings the promise of a positive long-term legacy for Brazil. It is a unique opportunity for visibility among more than 3 billion people worldwide who will either attend or watch the games on television. The exposure from the games has the potential to draw national and international investments before, during, and after the thirty-two teams compete for the Cup.
- Topic:
- Civil Society and Economics
- Political Geography:
- Brazil and South America
37. Regime Change, Democracy, and Growth
- Author:
- Caroline Freund and Mélise Jaud
- Publication Date:
- 04-2014
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics
- Abstract:
- The empirical literature on the relationship between democracy and growth has yielded conflicting results. Cross-country studies have failed to identify a significant impact of democracy on growth, while within-country studies have found a strong positive effect of the transition to democracy on growth. We reconcile the conflicting evidence by showing that the positive effect of democratic transitions results from regime change as opposed to democratization. We identify over 100 transitions in the last half-century with various outcomes: to and from democracy, some partial, and some failed. The variety of experiences allows us to compare the growth outcome of democratic transitions with that of other transitions rather than with a no-transition counterfactual. Conditioning on regime change filters out selection effects and shows that transition to democracy yields no growth dividend compared to other types of regime change. We also show that countries that democratize slowly do not gain from regime change. These results suggest that the growth dividend from political transition results from swift regime change rather than from democratization.
- Topic:
- International Relations, Democratization, and Economics
- Political Geography:
- Brazil
38. The BRICS Development Bank: Why the world's newest global bank must adopt a pro-poor agenda
- Author:
- Lysa John
- Publication Date:
- 06-2014
- Content Type:
- Policy Brief
- Institution:
- Oxfam Publishing
- Abstract:
- In July 2014, a new multilateral and Southern-led development bank is expected to be launched by the leaders of Brazil, Russia, India, China and South Africa – better known as the BRICS. The BRICS Development Bank will provide a fresh source of finance for developing and emerging economies to meet their development needs. Little has been made public regarding the proposed Bank's core mandate or activities but while governments negotiate the technicalities of the Bank, it is critical that they also provide a solid vision of the principles, priorities and objectives on which the Bank's activities and operations will be premised. This policy brief recommends that these include commitments to: ending extreme poverty and inequality, with a special focus on gender equity and women's rights; aligning with environmental and social safeguards and establishing mechanisms for information sharing, accountability and redress; leadership on the sustainable development agenda; the creation of mechanisms for public consultation and debate; and the adoption a truly democratic governance structure.
- Topic:
- Development, Economics, Gender Issues, International Cooperation, and Poverty
- Political Geography:
- Africa, Russia, China, Europe, India, Asia, South Africa, Brazil, and South America
39. Are Long-Term Inflation Expectations Well Anchored in Brazil, Chile and Mexico?
- Author:
- Michiel De Pooter, Patrice Robitaille, Ian Walker, and Michael Zdinak
- Publication Date:
- 03-2014
- Content Type:
- Commentary and Analysis
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- In this paper, we consider whether long-term inflation expectations have become better anchored in Brazil, Chile, and Mexico. We do so using survey-based measures as well as financial market-based measures of long-term inflation expectations, where we construct the market-based measures from daily prices on nominal and inflation-linked bonds. This paper is the first to examine the evidence from Brazil and Mexico, making use of the fact that markets for longterm government debt have become better developed over the past decade. We find that inflation expectations have become much better anchored over the past decade in all three countries, as a testament to the improved credibility of the central banks in these countries when it comes to keeping inflation low. That said, one-year inflation compensation in the far future displays some sensitivity to at least one macroeconomic data release per country. However, the impact of these releases is small and it does not appear that investors systematically alter their expectations for inflation as a result of surprises in monetary policy, consumer prices, or real activity variables. Finally, long-run inflation expectations in Brazil appear to have been less well anchored than in Chile and Mexico.
- Topic:
- Development, Economics, Inflation, and Bonds
- Political Geography:
- Brazil, South America, North America, Mexico, and Chile
40. Bank Ownership, Lending, and Local Economic Performance During the 2008-2010 Financial Crisis
- Author:
- Nicholas Coleman and Leo Feler
- Publication Date:
- 03-2014
- Content Type:
- Commentary and Analysis
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- While the finance literature often equates government banks with political capture and capital misallocation, these banks can help mitigate financial shocks. This paper examines the role of Brazil's government banks in preventing a recession during the 2008-2010 financial crisis. Government banks in Brazil provided more credit, which offset declines in lending by private banks. Areas in Brazil with a high share of government banks experienced increases in lending, production, and employment during the crisis compared to areas with a low share of these banks. We find no evidence that lending was politically targeted or that it caused productivity to decline in the short-run.
- Topic:
- Economics, Financial Crisis, Governance, Local, Lending, and Banking
- Political Geography:
- Brazil and South America