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United Nations - Economic Commission for Latin America and the Caribbean
Twenty_Ninth Session, Brasilia, Brasil
6-10 May 2002
Globalization and Development

Cover - Contents - Introduction
Part I: Global outlook
Chapter 1 - Globalization: a historical and multidimensional perspective
I. The globalization process
II. Non-economic dimensions
1. Ethical and cultural dimensions
2. The political dimension
III. Opportunities and risks
Chapter 2 - The economic dimensions of globalization
I. International trade and investment
1. International trade and economic growth: a variable historical relationship
2. The emergence of internationally integrated production systems
3. Outstanding challenges posed by the relationship between trade and economic growth
4. Development of the institutional framework for international trade
II. International finance and the macroeconomic regime
1. Historic transformations in the international financial system
2. Changes and recent episodes of volatility in financial markets
3. Capital flows to developing countries
III. International migration
Chapter 3 - Inequalities and asymmetries in the global order
I. Inequalities in global income distribution
1. Long-term disparities between regions and countries
2. Overall effect of international and national inequality
II. Basic asymmetries in the global order
1. Three asymmetries in the international structure
2. The rise and fall of the concept of international development cooperation
Chapter 4 - An agenda for the global era
I. Fundamental principles for the construction of a better global order
1. Three key objectives: supply global public goods, correct international asymmetries and firmly establish a rights-based global social agenda
2. Global rules and institutions that respect diversity
3. Complementarity of global, regional and national institution-building
4. Equitable participation and appropriate governance
II. National strategies for dealing with globalization
1. The role and basic components of national strategies
2. Macroeconomic strategy
3. Building systemic competitiveness
4. Environmental sustainability
5. Social strategies in an era of globalization
III. The key role of action at the regional level
IV. The global agenda
1. Provision of global macroeconomic public goods
2. Sustainable development as a global public good
3. The correction of financial and macroeconomic asymmetries
4. Overcoming production and technological asymmetries
5. Full inclusion of migration on the international agenda
6. Economic, social and cultural rights: the foundations for global citizenship
Part II: Regional outlook
Chapter 5 - External vulnerability and macroeconomic policy
I. Composition of external financing and vulnerability
1. Anatomy of capital flows in the 1990s
2. External financing and the business cycle
II. Globalization and real macroeconomic instability
1. Procyclical behaviour linked to the financial accelerator
2. The procyclical behaviour of public finances
3. Weak investment process and inadequate financial development
III. The domestic domain: tackling the globalization of financial volatility through countercyclical macroeconomic policies
1. Prudential management of cyclical upswings: fiscal, monetary and regulatory aspects
2. The exchange-rate regime
3. “Self-insurance” mechanisms
4. Prudential regulation and supervision of financial systems
5. Domestic financial development
IV. The international domain: strengthening the governance of financial globalization
1. Creation of an institutional framework promoting financial stability
2. Emergency financing
3. The solution to problems of overborrowing
4. The role of multilateral development banks
5. The role of regional institutions
Chapter 6 - The integration of Latin America and the Caribbean in global trade and production circuits
I. Trade specialization in Latin America and the Caribbean
1. General trends
2. The composition of trade in goods
3. Trade in services
II. Foreign direct investment flows to Latin America and the Caribbean
III. Integration processes in the region
1. Subregional integration schemes and intraregional free trade agreements
2. Other integration arrangements
IV. The Latin American and Caribbean agenda for trade and investment
1. The national agenda: export promotion policies
2. The national agenda: policies on linkages and clusters
3. The regional agenda
4. The international agenda
Chapter 7 - Strengthening innovation systems and technological development
I. Innovation systems and technological development
II. The evolution of innovation systems
1. Innovation systems in the State-led industrialization phase
2. Changes in innovation systems brought about by external openness and globalization
3. Science and technology expenditure
III. Information and communications technologies (ICTs)
1. The nature of changes generated by ICTs
2. The progress of connectivity in the region
IV. Intellectual property rights
1. Standardization of intellectual property regulations
2. Latin American patent activity
V. Policies to facilitate changes in production and technological patterns
1. Reinforcing innovation systems: active strategies and policies
2. Policies to speed up progress in ICTs
3. Policies on intellectual property rights
Chapter 8 - International migration and globalization
I. The interactive nature of migration and globalization
1. Factors which promote mobility and heterogeneity
2. Migrant culture and the formation of transnational communities
3. Persistence of barriers and institutional difficulties which restrict mobility
4. Global forces and the future of migration
II. International migration patterns of the Latin American and Caribbean population
1. Emigration to the United States
2. Emigration to other destinations
3. Intraregional migration
III. Potential and problems of migration
1. Remittances
2. Lack of protection and vulnerability of migrants
3. Citizenship and human rights
IV. Proposals for a regional agenda on international migration
1. Governance of international migration
2. Links with emigrants
3. Measures to prevent the risks associated with migration
Chapter 9 - Globalization and environmental sustainability
I. The impact of productive restructuring on sustainable development
II. Changes in the production structure and their effects on environmental sustainability
III. Economic globalization and the environment
1. The environmental impact of exports and foreign direct investment
2. Changes in the international economic context and the environment
IV. The environmental repercussions of productive and technological restructuring in the energy sector
1. Energy intensity
2. CO2 emissions
3. The Latin American and Caribbean energy sector and global climate change
V. Changes in the region’s vulnerability
VI. Changes in national and regional environmental management institutions and governance
1. Institution-building
2. Challenges for the future
3. Changes in environmental financing
VII. Changes in international environmental governance
VIII. An agenda for action
1. Consolidating national environmental management mechanisms and strengthening institutional capacity to cope with the trends observed
2. Developing institutional capacity and mechanisms to reduce the region’s vulnerability to natural disasters
3. Developing institutional capacity and mechanisms for the sustainable management of natural and energy resources
4. Innovative ways to finance the attainment of sustainable development goals
5. Consolidating international markets for global environmental services and building regional capacity to participate actively in them
6. Increasing the absorption of cleaner production technologies through existing foreign investment and trade links and domestic investment in research and development
7. Strengthening political commitment to sustainable development goals among all social actors nationally, regionally and globally
Chapter 10 - Globalization and social development
I Educational deficits and gaps in the region
1. Progress in terms of coverage
2. Quality deficits
3. Education, employment and income
II. Globalization and employment
1. Dynamics of the production and employment structure
2. Globalization and greater labour flexibility and precariousness
III. Social protection
1. Social insurance and protection: dealing with risk and volatility
2. Social safety nets, employment and poverty
IV. The social agenda
1. Closing educational gaps
2. The main challenges in employment
3. Education, training and employment (employability)
4. Social protection systems
5. Social protection and employment
6. Social agenda for regional integration and cooperation
Chapter 11 - The effects of globalization on CARICOM Caribbean economies
I. Caribbean integration as a positive response to globalization
II. The process of structural change under globalization
III. Capital flows
IV. Labour issues and migration
V. Globalization and macroeconomic policy and perfomance
VI. Sustainable development issues

Table 2.1 Global exports, by origin
Table 2.2 Structure of world imports, by origin and destination, 1985 and 2000
Table 2.3 Dynamic and stagnant products in world imports, 1985-2000
Table 2.4 Export structure by competitive position
Table 2.5 Foreign direct investment
Table 2.6 FDI inflows
Table 2.7 Geographical concentration of foreign subsidiaries in selected manufacturing industries, by technology-intensiveness, 1999
Table 2.8 GDP growth: world and largest regions, 1820-1998
Table 2.9 Financial holdings by institutional investors selected OECD countries
Table 2.10 Net resource flows: 1973-1999
Table 2.11 Net resource flows, 1990-1999
Table 2.12 Organisation for Economic Co-operation and Development: the 10 main countries of destination of immigrants
Table 2.13 Organisation for Economic Co-operation and Development: nations of origin of immigrants to the main recipient countries, 1999

Table 3.1 Patterns of interregional disparities
Table 3.2 Indices of per capita income inequality in the world
Table 3.3 Standard deviation of per capita GDP growth
Table 3.4 World trend in income inequality, 1975-1995
Table 3.5 International asymmetries: share of the developing countries in the world economy

Table 5.1 Latin America and the Caribbean: sources of external financing, 1990-2000
Table 5.2 Latin America and the Caribbean: net private resource flows, 1990-1999
Table 5.3 Latin America and the Caribbean: long-term external financing by groups of countries, 1990-1999
Table 5.4 Latin America and the Caribbean: trend of balance of payments, 1990-2001
Table 5.5 Indicators of external vulnerability among developing countries, 1990-2000
Table 5.6 Latin America and the Caribbean: exchange rate regimes, 2002

Table 6.1 Growth in trade in goods and services in Latin America, 1990-2001
Table 6.2 Latin America and the Caribbean: changes in market shares and relative specialization index for high-demand products
Table 6.3 Selected countries: export structure by category of technological intensity 1985 and 2000
Table 6.4 Volume and composition of exports of services, 2000
Table 6.5 Latin America and the Caribbean: foreign direct investment inflows, 1990-2001
Table 6.6 Latin America and the Caribbean: strategies of transnational corporations in the 1990s
Table 6.7 Latin America (10 countries): share of total sales in each sector of the 1,000 largest firms, by type of ownership (1990-1992; 1994-1996; 1998-2000)
Table 6.8 The twenty largest export companies in Latin America, 2000
Table 6.9 Latin America and the Caribbean: exports by destination and level of technology, 2000

Table 7.1 Latin America: expenditure on research and development, by funding sector, 1999
Table 7.2 Latin America and the Caribbean: number of researchers per 1,000 members of economically active population
Table 7.3 Connectivity levels and gaps, 1995-2000
Table 7.4 Latin America and the Caribbean: level of connectivity in 2000 and trend between 1995 and 2000, compared to world pattern
Table 7.5 United States: patents obtained, by country
Table 7.6 WIPO: plant patent applications and awards

Table 8.1 United States: distribution of the economically active population, both native-born and born in Latin America and the Caribbean, by branches of activity. Data taken from the 1990 census
Table 8.2 United States: total number of immigrants admitted, and total coming from Latin America and the Caribbean, 1971-1998
Table 8.3 United States: immigrants admitted from selected countries of Latin America and the Caribbean, 1971-1998
Table 8.4 United States: immigrants admitted from Latin America and the Caribbean, by subregion of origin and admission class, 1998
Table 8.5 Latin American and Caribbean immigrants in Europe and in other countries for which information is available, around the year 2000
Table 8.6 Latin America: number of persons born abroad, by region of origin and country where present, around 1990
Table 8.7 Caribbean: number of persons born abroad, by region of origin and country where present, around 1990
Table 8.8 Latin America and the Caribbean: main countries receiving remittances, 1990 and 2000

Table 9.1 Latin America and the Caribbean: selected environmental indicators
Table 9.2 Average annual growth in environmentally sensitive export volumes, by destination
Table 9.3 Revealed comparative advantage (RCA) indices for the group of environmentally sensistive industries
Table 9.4 Firms investing in their production processes for environmental reasons, 1996
Table 9.5 Indicators of energy consumption and energy intensity in Latin America and the Caribbean

Table 10.1 Latin America and the Caribbean (17 countries): school enrolment by age group and sex, and by age group and family income, 1990 and 1999
Table 10.2 Enrolment in secondary and higher education, 1985 to 1997
Table 10.3 School life expectancy in selected countries, 1980, 1990 and 1995
Table 10.4 Latin America and the Caribbean (17 countries): social public expenditure on education
Table 10.5 Relative position of Ibero-American countries in international studies of education quality
Table 10.6 Latin America and the Caribbean (17 countries): average number of years of schooling of economically active population (EAP), by age group and employment status, 1990 and 1999
Table 10.7 Latin America (17 countries): output trends in the 1990s
Table 10.8 Latin America (16 countries): trend of total and wage employment, 1990-1999
Table 10.9 Latin America and the Caribbean: indicators of employment trends in the 1990s
Table 10.10 Latin America (16 countries): trend of wage differentials in the 1990s
Table 10.11 Latin America (12 countries): wage-earners with no employment contract and without social security in urban areas
Table 10.12 Latin America (7 countries): incidence of non-permanent wage-earning work in urban areas
Table 10.13 Poverty in households headed by 25-64-year-olds, by employment status

Table 11.1 CARICOM: exports and market share, 1985-1999
Table 11.2 CARICOM: distribution of intraregional import market share, by member country, selected years between 1985 and 1999
Table 11.3 Sectoral share of output, 1990 and 2000
Table 11.4 Tourist arrivals and receipts in selected Caribbean countries, 1980-1998
Table 11.5 Net inflows of foreign direct investment, 1990-1999
Table 11.6 Growth of manufacturing employment, 1992-1997
Table 11.7 Caribbean countries: growth in real GDP, 1991-2000
Box1.1 Inclusion and identity: The issue of ethnicity

Box 2.1 The long-term deterioration of raw material prices
Box 2.2 United States interest rates and emerging market bond spreads

Box 4.1 Economic links between Puerto Rico and the United States mainland

Box 5.1 Three crises in less than a decade

Box 8.1 Changes in the mobility of persons in one area of MERCOSUR
Box 8.2 Government programmes in Mexico in support of collective remittances
Box 8.3 United States: estimates of the number of persons without official documents
Box 8.4 The international convention on the protection of the rights of all migrant workers and members of their families

Box 11.1 Macroeconomic convergence in CARICOM
Box 11.2 The new technologies in the Caribbean
Figure 1.1 Ratification of human rights convention

Figure 2.1 Trade and global output, 1870-1998
Figure 2.2 Exports from Latin America
Figure 2.3 Export growth and GDP growth by country
Figure 2.4 Trade and GDP in Latin America, 1870-1998
Figure 2.5 De-industrialisation, foreign trade, employment and income
Figure 2.6 International monetary fund: total credits and outstanding loans, 1950-2001
Figure 2.7 Financial derivatives traded on organized markets
Figure 2.8 Spreads in emerging markets
Figure 2.9 Net flows to developing countries
Figure 2.10 Credits of international financial institutions
Figure 2.11 External debt

Figure 3.1 Weighted international inequality, 1950-1998
Figure 3.2 Global income inequality, 1820-1992
Figure 3.3 Inequality and wealth
Figure 3.4 Instability of economic growth

Figure 5.1 Patterns of growth, trade deficit and net resource transfer
Figure 5.2a Latin America and the Caribbean: international bond issuance
Figure 5.2b Latin America and the Caribbean: conditions of international bond issues
Figure 5.3 Procyclical movements in economic activity and net resource transfer
Figure 5.4a Trend of global emerging markets bond index (EMBI)
Figure 5.4b Eurobond spreads
Figure 5.5 Net resource transfer and appreciation of currency and financial assets
Figure 5.6 Latin America (19 countries): central government accounts
Figure 5.7 Latin America: central government tax burden, 1990-2000
Figure 5.8 Latin America: episodes of procyclical policies, 1990-2000
Figure 5.9 Difference between rate of growth of GDP and real interest rate paid on public debt
Figure 5.10 Latin America and the Caribbean: volatility of net resource transfer and investment/GDP ratio

Figure 6.1 Latin America and the Caribbean: trade and gross domestic product, 1985-2001
Figure 6.2a Average annual growth rate of real GDP and exports between 1970-1980 and 1990-2000
Figure 6.2b Variation in GDP growth rate and import elasticity (built-in) between 1970-1980 and 1990-2000
Figure 6.3 Latin America and the Caribbean: destination of exports, 1990 and 2000
Figure 6.4 FDI flows to Latin America and the Caribbean, by country of origin, 1990-2000
Figure 6.5 LAIA countries: sectoral distribution of foreign direct investment, 1981-2000

Figure 7.1 World investment in research and development, 1996-1997
Figure 7.2 Latin America and the Caribbean: expenditure on science and technology as a percentage of GDP
Figure 7.3 Connectivity and GDP in the world, 1995-2000
Figure 7.4 United States: number of patents obtained, by main sectors of activity

Figure 8.1 United States: percentage of professionals in the labour force, by origin, 1997
Figure 8.2 United States: percentage of population aged 25 or more with at least full high school education, by origin, 2000

Figure 9.1 Expansion of the agricultural frontier, 1961-1999
Figure 9.2 Trends in selected natural resource sectors in Latin America and the Caribbean
Figure 9.3 MERCOSUR: export volumes of environmentally sensitive industries, by destination market
Figure 9.4 Andean Community: export volumes of environmentally sensitive industries, by destination market
Figure 9.5 Energy intensity in Latin America, 1970-2000
Figure 9.6 Energy intensity and per capita income in Latin America and the Caribbean, 1970-2000

Figure 9.7 Ratio of CO2 emissions to GDP in Latin America and the Caribbean
Figure 9.8 CO2 emissions, 1980-1999
Figure 9.9 CO2 emissions from power stations, 1970-2000
Figure 9.10 Emissions by world region, 1973-1999
Figure 9.11 Latin America and the Caribbean: effects of disasters caused by natural phenomena, 1998-2001

Figure 10.1 Median and 75th percentile score in standardized tests applied to 4th grade students in public and private schools
Figure 10.2 Average years of schooling of total economically active population (EAP), by age groups, 1999
Figure 10.3 Latin America (17 countries): urban unemployment rates by period, 1991-1994, 1995-1996, 1997-1998 and 1999-2000

Figure 11.1 United States apparel imports from selected Caribbean countries
Figure 11.2 Capital flows to the Caribbean, 1990-1999
Figure 11.3 International bond issues and bank lending
Figure 11.4 FDI as a percentage of gross domestic fixed capital formation for the Caribbean, 1990-1999
Figure 11.5 Employment and labour force growth
Figure 11.6 Average inflation rates for selected Caribbean countries, 1981-2000
Figure 11.7 Carbon dioxide emissions (CO2) for selected Caribbean economies

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