Dollarization in Latin America: seigniorage costs and policy implications

This paper examines the seigniorage costs of official dollarization in 15 Latin American countries. We show that the total costs can be decomposed into two components: seigniorage transferred to the U.S. and seigniorage lost due to greater financial stability in the dollarized country. Results indicate that seigniorage costs and their components are significant, yet differ considerably across countries. A cluster analysis is performed to sort countries into homogenous sub-groups. At a stage with five sub-groups we find groups with increasing seigniorage burdens. At a stage with two sub-groups we can identify candidates for possible seigniorage revenue-sharing agreements with the U.S.     

Individual, organizational and environmental determinants of new firm employment growth: evidence from Latin America

New ventures are increasingly playing an important role in Latin American economies. However, little is known about the determinants of new firm growth in this context. The purpose of this study is to gain an understanding of the factors influencing new firm growth in Argentina, Brazil, Mexico and Peru. Individual, organizational and environmental factors are included in an empirical model, which is tested using data collected by face-to-face interviews with 582 entrepreneurs. Different specifications of employment growth and regression approaches are employed. Results suggest that growth strongly depends on the characteristics of the entrepreneur. National environment and firm-related factors are also important factors in determining growth.

Longitudinal analysis of entrepreneurship and competitiveness dynamics in Latin America

This study analyzes the relationship between entrepreneurial dynamics in Latin-American countries and the level of competitiveness these countries show. Based on the research conducted by Wennekers et al. [Small Business Economics, 24(3):293–309, 2005] that demonstrates a U-shaped relationship between the country’s rate of entrepreneurship and its level of competitiveness and economic development, we hypothesize that Latin-American countries have a descending behaviour under the U-shaped curve approach. The results from three regression models support this hypothesis and suggest that competitiveness and economic growth deter entrepreneurial dynamics on Latin-American countries. We discuss that Latin-American countries need to improve some structural factors to achieve a high level of entrepreneurial dynamics.

Beyond the Urban–Suburban Divide: Urbanization and the Production of the Urban in Zurich North

Starting from current debates on ‘global suburbanism' and ‘postsuburbia', this article explores the changes that the former ‘urban periphery' of Zurich North has experienced in the last three decades. It mobilizes Henri Lefebvre's triadic concept of conceived, perceived and lived space in aid of an analysis of the profound urban transformations that can be observed. The construction of a new tramline serves as a guideline for an analysis of the implementation of new governance arrangements strengthening cross‐border cooperation between individual municipalities and new strategies of cooptation and expertise. This resulted in the production of new urban structures which led to a more densely woven and connected urban fabric primarily providing spaces for the headquarter economy and middle‐class housing. Concomitantly, great efforts have been made to create new public spaces, an urban image and even an urban atmosphere. These have proved at least partially successful, thus promoting a symbolic redefinition of the former urban periphery as a distinctively ‘urban' space. Conventional definitions and concepts no longer suffice to adequately understand such novel urban forms, leading to the conclusion that division into an ‘urban' and a ‘suburban' world is no longer a useful tool for urban analysis.     

Propensity for participative decision making in Latin America: Mexico and Peru

Increased subordinate participation in management decisions has been a recognized trend in developed Western organizations in recent decades. This study examines a manager's propensity for engaging in participative decision making (PPDM)in two emerging Latin American nations, Mexico and Peru. Although these two nations possess some degree of cultural similarity, two key differences were identified. First, Mexican managers who believed that PDM reduces a manager's power base were also likely than others to see a positive link between PDM and organizational effectiveness. In contrast, Peruvian managers who believed that PDM reduces a manager's power base were less likely than others to see a positive link between PDM and organizational effectiveness. Second, Mexican managers operating in participative organizational cultures were less committed than other managers to participation as a management philosophy and to their organizations. In contrast, Peruvian managers operating in participative organizational cultures were more committed than other managers to participation and to their organizations. Conclusions and directions for future research are also presented.     

Declining suburbs in Europe and Latin America

Suburban shrinkage, understood as a degenerative urban process stemming from the demise of the Fordist mode of urbanism, is generally manifested in a decline in population, industry and employment. It is also intimately linked to the global restructuring of industrial organization associated with the rise of the post-Fordist mode of urbanism and, more recently, the thrust of Asian industrialization. Framed in the discourse of industrial urbanism, this article examines the first ring of industrial suburbs that developed around large cities in their most rapid Fordist urbanization phase. These industrial suburbs, although they were formed at different times, are today experiencing specific mutations and undergoing profound restructuring on account of their particular spatial position between the central area and the expanding peripheries of the post-Fordist metropolis. This article describes and compares suburban decline in two European cities (Glasgow and Paris) and two Latin American Cities (S?o Paulo, Brazil and Guadalajara, Mexico), as different instances of places asymmetrically and fragmentarily integrated into the geography of globalization.     

Governance, Democracy and Poverty Reduction: Lessons Drawn from Household Surveys in Sub-Saharan Africa and Latin America

Public statistics face quite a challenge when it comes to measuring new dimensions of development (institutions, governance, and social and political participation). To take up this challenge, modules on Governance, Democracy and Multiple Dimensions of Poverty have been appended to household surveys by National Statistics Institutes in twelve African and Latin American developing countries. This paper presents the issues addressed and the methodological lessons learnt along with a selection of findings to illustrate this innovative approach and demonstrate its analytic potential. We investigate, for instance, the population's support for democratic principles, the respect for civil and political rights and the trust in the political class; the ‘need for the State’, particularly of the poorest; the extent of petty corruption; the reliability of expert surveys on governance; the perception of decentralization policies at local level; the level and vitality of social and political participation, etc. The conclusive appraisal made opens up prospects for the national statistical information systems in the developing countries. The measurement and tracking of this new set of objective and subjective public policy monitoring indicators would benefit from being made systematic.     

美国的城市化历程及对我国的启示

美国是世界上少数快速而又广泛地完成城市化的国家之一.在考察了美国城市化过程的五个阶段与城市化影响因素的基础上,认为在中国城市化进程中应该大力发展服务业,集约高效利用城市土地,完善住房与就业政策,加大城市交通建设,优化城市空间结构,建设信息化城市.     

Managing human resources in the Latin American context: the case of Chile

In this article several aspects of human resource management (HRM) in Chile will be examined. Initially Chile will be analysed in the context of Latin American culture and history, as it shares a number of common features with the rest of the countries of the region. Secondly, the arrival of HRM to Chile is explored, as well as how it is affected by the particular characteristics of the country. Thirdly, HRM research literature in the specific context of Chile is reviewed and analysed. Finally, some consequences are discussed, and it is concluded that Chile shares a unique history, culture, social particularities and problems with the other countries of the region, affecting the way in which HRM is deployed in organisations. It is also concluded that more research in this context is urgently needed.     

Urbanization and the City Image in Lowry at Tate Britain: Towards a Critique of Cultural Cityism

This article explores cultural cityism at a time when a more expansive, ‘planetary’ urbanization is argued to have superseded ‘the city’ as the dominant urban form. It takes an essentially Lefebvrian problematic and works this through an examination of one aspect of contemporary metropolitan culture, the L.S. Lowry exhibition at Tate Britain, held in the summer of 2013. The article scrutinizes the juxtaposition of Lowry's images of the industrial city with the image of ‘global’, corporate London provided by Tate Britain itself. The exhibition is presented as evidence of Lefebvre's argument that although the urban core has imploded and exploded, through images the city ‘can perpetuate itself, survive its conditions’. Taking stock also of the preponderance of city images in culture more widely, it is argued such images make a fetish of the city, producing also an ‘urban pastoral’ that obscures the defining characteristics of urban life today. Finally, Benjamin's concept of the ‘dialectical image’ and Rancière's notion of the ‘sentence image’ are invoked to capture the flashing together of past and present city images and the opportunities for critical reflection this constellation presents.     

Diversification by Urbanization: Tracing the Property‐Finance Nexus in Dubai and the Gulf

This article explores the role of liberalized real estate markets in shaping financial‐sector development in the Arab Gulf region. Since 2001, record oil revenues and the inflow of repatriated wealth into the region have generated immense demand for new, productive destinations for surplus capital. Gulf Cooperation Council states have subsequently undergone rapid growth that is intimately tied to the regulatory transformation of urban real estate markets and the circulation of surplus capital from oil rents to the ‘secondary circuit’ of the built environment. With an emphasis on the city of Dubai, we employ the notion of diversification by urbanization to trace the re‐regulation of real estate markets and highlight how these strategies have subsequently shaped Gulf financial markets. Through an examination of the impacts of real estate mega‐project development on local banking credit, equities and Islamic financial markets, we reframe recent urbanization in the region as a process of financial re‐engineering, and identify the emergence of capital groups whose accumulation activities are tightly connected to both the real estate and financial circuit.     

Urban Segregation and Metropolitics in Latin America: The Case of Bogotá, Colombia

The patterns of spatial socioeconomic segregation in Latin American cities are changing rapidly as a result of suburbanization and metropolization. However, the political consequences of these urban spatial processes are not well understood. This article uses Orfield's framework of analysis to test the hypothesis that spatial segregation at the metropolitan level is driving political polarization between Latin American cities and their suburbs. With Bogotá as a testing ground, we look for evidence that the mechanisms described by Orfield are at play. We conclude that metropolitan spatial segregation does not drive metropolitan politics in Bogotá and explore some of the theoretical implications thereof.     

Similarity of emerging market returns under changing market conditions: Markets in the ASEAN-4, Latin America,Middle East,and BRICs

We studied the risk-return distances of 18 emerging stock markets in the period from January 2000 to December 2013. Distances are linked to volatility and time-varying correlations estimated in standard and asymmetric DCC models. Our results revealed a positive relationship between risk-return distances and volatility, which means that during more volatile periods, the risk-return characteristics in emerging markets exhibit lower similarity to the characteristics found in developed markets. This result seems to be in sharp contrast to most empirical studies using correlations. Within the portfolio framework, our results suggest that diversification into emerging stock markets may still provide desirable benefits to international investors.     

Suburbanization of the Self: Religious Revival and SocioSpatial Fragmentation in Contemporary Poland

In this article, I trace the elective affinity between planetary suburbanization and emergent forms of radical religiosity. I show how the centuries‐long spatial hegemony of the Catholic Church in Poland has recently been undermined by the ‘fundamentalist' broadcaster Radio Maryja—the bellwether of the Polish right‐wing nationalist resurgence. I describe the twentieth‐century suburbanization of both the state and Catholicism in Poland, supported by an analysis of a village‐cum‐suburb in one of Poland's largest agglomerations. I show how the latest wave of suburbanization, triggered by Poland's opening up to global flows of capital in 2004, ran parallel to the emergence of a ‘post‐secular', ‘individual' and ‘intellectual' strain of faith. I tie these in with the life stories and changes in gender and labour regimes of two key informants. I also show that the surge of right‐wing nationalism should not be understood as a backlash against neoliberalization, but that it represents instead a project of regime change and new elite formation.     

Cacao Capitalism and Extended Urbanization: On the Contradictory Origins of Bounded Urbanism in Nineteenth‐century Coastal Ecuador

This article challenges both contemporary and classic urban theory by analyzing the historical case of coastal Ecuador. Working from primary and secondary sources, I track the urbanization of coastal Ecuador during the long nineteenth century, when cacao exports determined not only the economic wellbeing of the city of Guayaquil, but of the entire tropical lowland region. I argue that this extended urban geography was both experienced and practiced as an unbounded economic and cultural region. As the value of cacao exports skyrocketed, capitalists in the city invested in infrastructural projects and financial instruments, divorcing money‐making from cacao production. After the Gran Incendio (great fire) of 1896, the city was rebuilt according to the ideals of modern liberal planning that further separated the city from the country symbolically, despite their continued material interconnection. This work suggests that long histories of capitalist urbanization provide material and theoretical support for critiquing bounded urban theory both past and present, by moving beyond the city and highlighting the processes undergirding spatial production under capitalist social relations. Likewise, this historical case study argues that city‐centrism, rather than being constituted epistemologically, was tied to liberal notions of the urban based on nineteenth‐century ideologies of modernization and progress.     

Unsettling Neoliberal Rationalities: Engaged Ethnography and the Meanings of Responsibility in the Dominican Republic and Mexico

Neoliberal urban environmental governance is premised in part on the development of collaborative arrangements between state and non‐state actors through which residents in informal settlements are encouraged to participate in their own governance. The neoliberal rationality of participation is implemented through governmental techniques such as responsibilization, whereby residents are rendered responsible for provision of basic environmental services previously seen as the responsibility of government authorities. However, neoliberal urban governance is incomplete, fragmented and fractured, affording room for maneuvering and innovative social agency, whereby residents mimic, reinterpret, negotiate and contest neoliberal subject formations. In this article, we discuss how engaged scholarship can facilitate such alternative productions of neoliberal subjectivities through the development of ‘knowledge encounters'. We draw on cases of solid waste management and environmental risk governance in the informal settlements of Los Platanitos, Santo Domingo Norte, Dominican Republic, and Gaviotas Sur, Villahermosa, Mexico, to suggest that knowledge encounters facilitated through engaged ethnography furnish stages for alternative conceptions of responsibility, whereby residents negotiate neoliberal techniques of governance through diverse forms of acquiescence, reconfiguration and contestation.     

Times and Spaces of Homeless Regulation in Japan, 1950s–2000s: Historical and Contemporary Analysis

Since the late 1970s, Atlantic Fordism has seen rising homelessness and ghettoization as the ‘new urban poverty’ (NUP) (Mingione, 1996). Despite some similarities, the NUP in Japan has a unique rhythm and spatial pattern. In order to explore Japanese NUP, this article develops an interpretation of Japan's strategies to regulate poverty and homelessness during the last 50 years, paying particular attention to the spatial consequences of such strategies within major Japanese cities. First, I theorize long‐term economic growth patterns as a basic parameter of poverty and homelessness regulation and present a periodization of Japanese trends since the 1950s. Second, I analyze poverty in Japan and the transformation of national strategies of spatial regulation in the 1990s, when homelessness grew. Third, I examine the multi‐scalar processes through which new regulatory spaces of homelessness were produced in the 1990s and 2000s, when failures of post‐bubble crisis management ballooned in Japan. I argue that, through a dialectic between national/local rule‐setting and homelessness, the Japanese state fragmented the dominant scale of poverty regulation, rescaled the site of homeless regulation and contained homelessness in relatively autonomized cities. I conclude that, from the 1990s until the late 2000s, Japan's homelessness and its contradictions tended to be transferred to the spheres of urban workfare and urban policing, which I call new regulatory spaces of homelessness, that lie around the fringes of national social rights.