Saving less when there is more foreign lending? Foreign debt and savings in developing countries

Although literature has given considerable attention to the effects of foreign debt on growth, we still know little about its effects on the internal potential for capital formation. Literature suggests a number of channels through which the availability of foreign financing could affect domestic savings. We test empirically this relationship using data for Sub‐Saharan Africa and Latin America and the Caribbean over 1975–2004. Controlling for endogeneity, we find that foreign debt adversely influences domestic savings especially in the long run. The results are not susceptible to the choice of countries, although few outliers should be noted.     

Latin American multinationals: A historical and theoretical approach*

Among the so‐called multinationals from the South, Latin American multinationals are outstanding for being pioneers. Their history goes even back to the end of the 19th century. In this article, we sketch a brief history of Latin American multinationals, but we concentrate on their development and growing importance since the 1980s within the context of economic reforms and globalization. We then apply a theoretical and typological perspective in order to characterize these multinational companies and to identify the elements that will condition their future behavior and development     

Commodity Prices and Stock Market Behavior in South American Countries in the Short Run

Using Geweke feedback measures, we present empirical evidence that largely supports the hypothesis that the stock markets of South American countries are highly affected by changes in commodity prices after controlling for changes in exchange rates, interest rates, and North American stock market changes. In total, six different Goldman Sachs commodity price indexes are tested against the unexplained variation in stock market returns for Argentina, Brazil, Chile, Colombia, Peru, and Venezuela, covering the period 1995-2007. The Argentinian, Brazilian, and Peruvian stock markets are significantly affected by changes in commodity prices the same day. Venezuela's stock market, however, does not react to changes in commodity prices, even including energy prices. Stock market returns for Chile show a contemporaneous relation with energy and metals prices, whereas Colombia's equity market is affected by price changes for agricultural and industrial metals. In all cases, we find a contemporaneous relation and no indication of a lead or lag relationship.     

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.     

留美知识分子与20世纪30年代的中国乡村建设——以晏阳初在河北定县的实验为例

20世纪30年代,在河北定县的乡村建设中,以晏阳初为代表的留美知识分子,以其特有的知识结构和思维方式,为探寻中国乡村现代化的独特发展之路做出了重要贡献。这是一次将西方的科学知识同中国乡村实际相结合的实验,并在一定程度上促进了中美文化的交流。