Index. B BAD (Bank Account Debit Transactions) Tax, 234 banking system

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1 Index A América Móvil, 1, 144 American Depository Listings (ADRs), 12, 15 Anderson, Clayton & Company, 16 Arcor, 16 Argentina, 1, 3, 7, 9, 13, 18, 20, , 301 capital flows and, 36, 41, 42 credit and, 87, 90 economic crisis, 72 economic growth, 29, 30, 31 economic reforms, 63 64, 81 83, 94 education and, 48, 52, 54 inflation and, infrastructure and, labor reform, 239, , legal reforms, 177, 179, 181, , , 194 logistics, 171 public safety and, 272, 279, 284, 285, 290 regulatory reform, 254, 260 tax reform, technology and, 99, 101, 124, 126, 128, 137 Washington Consensus and, 39 Aruba, 15, 271 Australia, 3, 234, 260 B BAD (Bank Account Debit Transactions) Tax, 234 banking system acquisitions, development of, FOGAPE, 85 reforms, risks and opportunities ahead, ATMs, 91 banking the never-banked, 89 cards and terminals, credit histories, mobile banking, SMEs, small business financing and, Bimbo, 16 BNDES, 65, 66, 71, 107, 126 Bolivia competitiveness, 32, 41 credit and, 82, 88 globalization and, 16, 296 infrastructure and, 149, 155 legal reforms, 185, 191 populism and, 1, 9 regulatory reform, 260 Bortagaray, Isabel, 19, 298 BOVESPA, 71, Brazil capital flight, 13 capital markets, boom in equities markets, comparison of, development of, recovery of credit markets, commodities and, 2 competitiveness, 29, 32 33, 35 36, 39, 41 credit and, 19 20

2 304 Index Brazil (contd.) education and, 47, 48, 49, 51, 52 infrastructure and, 152, 155 innovation and, 125, 126, 128, 130, , 137 labor reform, 240, 247, 249 legal reforms, 177, , 181, 183, 186, 191, 193, 194 logistics and, 20, 167, 169, , 173 migration and, 7 property and, 205, 211 public safety and, 15, 274, 277, , 283, , 290 regulatory reform, 13, 254 tax reform, 12, 218, 219 technology and, 19, 99, 101, 103, Washington Consensus and, 9 10 Bretton Woods economic system, 8 C Canada, 3, 7, 41, 110, 122, , 128, 135, 165, 278, 284 CANTV, 15, 144 capital flight, 5 6, 13, 16, 22, 38, 128, 171, 291, 292 Cardoso, Fernando, 9, 65, 106, 167 Caribbean nations, 4, 19, 30, 32, 34 35, 36, 37, 41, 143, 152, 271, Carrizosa, Mauricio, 18, 298 Carvajal, 1 CEITEC, 113 Chavez, Hugo, 14, 15, 128, 185, 200, 201, 290 Chile. See also FOGAPE competitiveness, 2 3, 31, 32 33, 34, 39 credit and, 81, 83 85, 87, 94 economic reforms, 63 64, 67 education and, 48, 49, 51, 54, 56, 57, 60 FOGAPE, 85 infrastructure and, , , 155, 158 innovation and, 125, 126, 137 labor reform, 239, 241, 242, 244, 246, 247 legal reforms, 178, 181, 184, 189 logistics and, 164, 165, 166, productivity and, 1 public safety and, 273, 279, 283, 284, 287, 290 regulatory reform, 20, 42, 258, 260 tax reform, 10, 18, 217, 220, technology and, 101, 103, 115, 298 China competitiveness, 29, 35 education and, 46, 52, 55, 58 foreign direct investment (FDI) and, 19, 277 globalization and, 4, 21, 295, 298 infrastructure and, intellectual property rights (IPR) and, labor reform, 244 logistics and, 164, 166 public safety and, 281, 290 regulatory reform, 255, 258, 268 technology and, 102, 105, , , 115, 116 CNEA, 126, 137 COFEMER, 18, Collor, Fernando, 64 Comando Vermelho, 14 competitiveness, 27 40, 299 developments in macro policies in recent years, economic growth performance in Latin America, links to external sector, macroeconomic management and impact on, macroeconomic policies in Latin America, 38 corruption, Costa Rica education and, 51, 52, innovation and, 125, 130, 133 legal reforms, , 179, 180, 181, 184, 191 public safety and, 20, 271, 273, 277, 284, 290 crime, 7, 13 15, 20, 177, 179, 186, 189, 215, , 299. See also public safety customs reform,

3 Index 305 D de Soto, Hernando, 17, 200, 203, 209, 298 deregulation, Doha Round of WTO negotiations, 16, 301 Doing Business Database, 17, 255, drugs, E Ecuador credit and, 82, 85, 88 education and, 52 labor reform, 240, 241, 246 legal reforms, 191 public safety and, 290, 296 remittances and, 36, 41 tax reform, 18, 217, 220, , 232 Washington Consensus and, 9 education, challenges facing, competitiveness and, English language skills, 55 equity, investment in, 49 quality, rising levels, science and technology, years of schooling, 47 El Salvador education and, 52, 56 legal reforms, 181, 185 public safety and, 20, 272, , 279, 281, UPS and, 24 Embraer, 1, 101, , 125 employment rigidity and informality, enforcement, F Falabella, 1 FARC, 283, 288 Field, E., 209 FINEP, 107, 111, 126 FOGAPE, 84, 85. See also Chile foreign direct investment (FDI), 5, 9, , 273, 277 formalism vs. effective conflict resolution, formalization, 19, 90, 202, 203, , 298 G gang recruitment, Garcia, Alan, 201, 281 GINI index, 31, 279 Global Competitiveness Index (GCI), Global Competitiveness Report (GCR), 4, 45, 215 globalization commercial law and, 198 pre-modern countries and, Goodspeed, Tamara Ortega, 16 17, 299 Guasch, José Luis, 17 18, 151, 299 Guatemala education and, 47, 53, 60 public safety and, 20, 272, 279, , 283 gun proliferation, Guyana, 18, 217, 220, , 233 tax reform, H H1-B visas, 7, 278 Haar, Jerry, Hammergren, Linn, 17, 298 Herzberg, Benjamin, 17 18, 299 Honduras, 53, 155, 180, 181, 218, 246, 268, 279, , 291 Humphrey, Christopher, 18, 297 I IMD Business School, 4 income inequality, India, 4, 16, 22, 46, 105, , 116, 211, 295 infrastructure Brazil and, 167 Chile and, Colombia and, competitiveness and,

4 306 Index infrastructure (contd.) controversy surrounding funding, 156 cost recovery pricing model, estimated investment requirements, global investment in, , 166 public-private partnerships (PPPs) and, reforms, 157 return on investment in, 152 water sector and, innovation, Buenos Aires and, challenges facing, Costa Rica and, 133 Curitiba and, government and, 136 growth trends, Havana and, industry and, 136 local innovation systems, 130 Monterrey and, 135 patterns of, philanthropists and, 136 Porto Alegre and, 132 rapid growth centers, Recife and, universities and, urban areas and, 127 Uruguay and, intellectual property rights (IPR), 11, 124, 128, 200, 202, 204, , 211 Inter-American Development Bank (IDB), 13, 22, 36, 42, 102, 143, 146, 166, 203, 240 Investment Climate Assessments, 18, 215 Italy, 3, 7, 88, 111, 278 J Juhn, Tricia, 18, 297 K Knight, Peter T., 19, 298 L labor reform, employment rigidity and informality, reforms and employment, unionization, legal reforms, accomplishments, balance of power issues, impact paradoxes, institutional accountability, paradox of insufficient sector budget, , corruption, enforcement, formalism vs. effective conflict resolution, quantitative paradoxes, regional reform movement, 176 logistics financing supply chain inefficiencies, globalization and, importance of, infrastructure and, obstacles to, customs reform, trucking regulations and lack of standards, 173 trust, 173 M Mara Salvatrucha, 14 Marques, Rosane A., 19, 298 Mexico COFEMER, competitiveness, 17 18, 28 29, 30, 32 34, 36, 37, 39, 41, 42 credit and, 19, 79, 80 82, 83 84, 87, 90, 92, 93, 94 economic reforms, 64, 68, 72 education and, 48, 51 52, 53, 54, 57, 60 foreign direct investment (FDI) and, formalization and, 202, , infrastructure and, 152, 155, 156 innovation and, 125, 127, , 135, 137 labor reform, 244, 248 legal reforms, 186, 194

5 Index 307 logistics and, 164, 165, 166, , migration and, 5 7 petroleum exports, 8 public safety and, 14, 20, 272, , , 279, , 284, 285, 287, 289, 290 regulatory reform, bureaucracy and, challenges facing, deregulation, tax reform, 18, 217, 220, , 232 technology and, 99, 101, 103 tourism, 276 Washington Consensus and, 9 10, 13 migration, 4 7, 37, 206, 264, 273, 278, 283, 291, 295 military rule, end of, Morales, Evo, 88, 201 multilatinas, 1 N NAFTA, 41, 105, 116, 128, 174, 258 national transformation, 208 Nicaragua, 18, 47, 49, 155, 181, 217, 218, , 233, 281 tax reform, Novo Mercado, 12, 73 O Odebrecht, 1 OECD (Organisation of Economic Co-operation and Development), 10, 48, 49, 51, 53, 60, 88, 103, 104, 108, 149, 157, , 244, 254, 258, 265, 297 Other Path, The (de Soto), 17, 200, 203, 298 P PCC (First Capital Command), 14, 25, Pendle, George, 202 per capita income, 3, 7, 29, , 279, 283, 291 Perdigão, 16 Peru capital markets, 64 commodities and, 2, 295 competitiveness, 30, 33, 39, 41 credit and, 82, 85, 87 economic reforms, 18 infrastructure and, 144, 158 Internet and, labor reform, 239, , 244, 246, 247 legal reforms, 185, 191, 193 logistics and, 173 property and, 201, 203, public safety and, 13, 15, 20, 272, 281, 284, 289 regulatory reform, 260 tax reform, 219 Washington Consensus and, 9 PNCT&I, police, ineffectiveness of, populism, 1, 4, 9, 11, 87, 94, 290 Price, John, 20, , 299 productivity, 1 2, 14 15, 17 18, 28, 37, 45 46, 79, 86, 94, 100, 167, 179, 211, 224, 241, 243, 246, 250, 258, 275, 291, public safety, Caribbean and, costs, factors affecting, drugs, end of military rule, gun proliferation, idle teens and gang recruitment, income inequality, ineffective police, subsidies and stipends, foreign direct investment (FDI) and, 277 Medellín, Colombia and, Mexico and, potential obstacles to, tourism and, public-private partnerships (PPPs), Puerto Rico, 144, Puryear, Jeffrey, 16 17, 299

6 308 Index R regulatory reform, See also COFEMER bureaucracy and, challenges facing, deregulation, Mexico and, remittances, 6, 22, 36 37, 41 42, 92 93, 273, 279 rule of law, corruption, creating formal legal and regulatory regime, 204 national transformation and, 208 results of imperfect law, selling reform, S Sabatini, Christopher, 18, 300 Sadia, 16 Salinas, Carlos, 9 Sarbanes-Oxley Act, 12 Schaefer, Clayton, 17, 298 Schaefer, Peter F., 17, 298 SELIC, 72 SMEs (small and medium-size enterprises), 11, 13, 24, 79, 85, 89 91, 94, 112 Smith, Adam, 211 Smith, Jan, 18 Snoeck, M., South Korea economic growth, 80 education and, 48, 51, 52, 53, 55, 60 industry migration and, 5 infrastructure and, 144 IPR and, 211 public safety and, 291 technology and, , 115, 298 trade and, 16 Stiglitz, Joseph, 202 subsidies and stipends, T Tablewski, Lee M., 19, 296 tariffs, 16, 17, 23, 41, 146, , , 205, , 224, 227, 229, 231, 254, 296 tax reform expenditure, taxes, competitiveness, and growth, selected tax reform experiences, Chile, Ecuador, Guyana, Mexico, Nicaragua, tax policy trends, Techint, 1 Telmex, 10, 87, 144 Tiffin, Scott, 19, 137, 298 Torero, M., 209 tourism, 14 15, 55, 133, 273, 275, , 278 transportation, 10, 12, 20, 130, 131, 132, 146, 151, 152, , , 230, 268, 283, 296 trucking regulations, 173 U unionization, Uribe, Alvaro, 15, 286, 288, 290, 291 Uruguay competitiveness, 29, 31, 32 credit and, 81 economic growth, 63, 64 education and, 51, 53, 60 innovation and, legal reforms, 177, 178, 181, 184 productivity and, 1 public safety and, 273 tax reform, 218 V Value Added Tax (VAT), 91, , 222, 225, 227, , 231, 233 Vargas Llosa, Alvaro, 206 VAT. See Value Added Tax Venezuela competitiveness, 31, 33, 34 credit and, 82, 88 economic reforms, 67, , 301 education and, 52, 54, 60 infrastructure and, 144 innovation and, 125, 128 labor reform, 241,

7 Index 309 legal reforms, 185, 191 migration and, 7 petroleum exports, 3, 16 populism and, 1 public safety and, 14 15, 20, 272, 274, 277, 284, 290 tax reform, 219 technology and, 99, 101 Washington Consensus and, 9 W Washington Consensus, 4, 9 15, 38, 42, 81, 201, , 247 Welch, John H., 18, 297 wine industry, 2 3, World Bank capital flows and, 36, 38 capital markets and, 64 Doing Business Database, 17, 255 education and, 9, 47, 48, 49 foreign debt and, 8 infrastructure and, 9, 155 Investment Climate Assessments, 18 labor reform and, 244 legal reforms and, 177, 193 logistics and, 163, 166, 167 property and, 211 regulatory reform, 258, 261 tax reform and, 215 technology and, 102 trade and, 41 Washington Consensus and, 42 World Economic Forum, 3, 4, 45, 100, 215, 231 World Trade Organization (WTO), 4, 9, 10, 16, 31, 82 WTO. See World Trade Organization