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The present paper presents a short-run theoretical macroeconomic model of the type suggested in Sachs (1996), attempting to differentiate economic development in East Asia with Latin America. Latin America, when compared to East Asia is said to...
Foreign bank presence has substantially increased in Latin America during the second half of the 1990s, which has prompted an intense debate on its banking and macroeconomic consequences. In this paper, we apply ARCH techniques to jointly estimate...