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Item type:Publication, What drives the failure of private participation in infrastructure projects?(Emerald, 2020-08-13)Purpose: The purpose of this paper is to assess the determinants of the early termination of infrastructure projects implemented under public–private partnerships (PPP), concessions or privately managed divested assets. Design/methodology/approach: Cross-section and duration model estimations were applied to a sample of 2,655 infrastructure projects implemented in Latin America and the Caribbean for the period 1993–2017. Estimation techniques consist of a logistic model and cox proportional hazards model (CPHM) applied to alternative specifications, including diverse causal factors. Findings: Evidence is found that early termination of infrastructure projects is determined by intrinsic and extrinsic factors. Among the intrinsic factors, the main characteristics of projects that increase the likelihood of failure are the size or scale of the project, the sector in which the project is developed (transport and water and sanitation) and being investments in divested assets. Extrinsic factors that showed a negative impact on the risk of early termination are good regulatory quality and domestic macroeconomic stability. Likewise, external real and financial shocks also contribute importantly to explain the likelihood of early termination of infrastructure projects. Practical implications: The results reveal that particular care must be put in design and supervision of large-scale projects, either in transport or water and sanitation. As well, risks associated with external shocks must be explicitly acknowledged in project design, with appropriate remedies and safeguards. The prevalence of relatively high rates of early termination in projects in divested assets in contrast with PPP suggests the importance of introducing simpler way out mechanisms for concessionaires. Finally, the results show the key importance of institutional factors like regulatory quality in determining project failure on economic performance of infrastructure projects. Originality/value: In contrast to the previous literature, the analysis shows the decisive role played by financial external factors and institutional factors of Latin American and Caribbean countries in early termination of private participation in infrastructure projects. As well, the finding of a higher likelihood of failure in projects that involve investments in divested assets versus concession or PPP suggests the need of investigate further the tradeoffs regarding the balance that must exist among guarantees offered to investors in infrastructure projects and the need to keep contractual decisions in line with market signals. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Reglas fiscales, reglas monetarias y shocks externos en una economía de exportaciones primarias: Un modelo para América Latina y el Caribe.(Pontificia Universidad Católica del Perú. Departamento de Economía, 2015)The macroeconomic performance of Latin America and the Caribbean (LAC) is closely linked to the evolution of the world economy. The lost decade of the eighties cannot be explained by abstracting it from the deterioration in the terms of trade and the rising interest rates in the developed world that occurred during that period. Nor can the golden decade of 2002 to 2011 be understood without considering the significant improvement in the terms of trade and the considerable reduction in international interest rates. Finally, it is not possible to understand the slowdown in economic growth in LAC since 2011 by ignoring the deterioration of the region’s terms of trade and rising global interest rates. This article discusses the connections to the global economy of a small, open, primary-export economy dependent on external financing, where monetary policy operates under an inflation-targeting scheme; the reference rate for interbank markets is a policy instrument; and fiscal policy works by imposing a limit on the fiscal deficit as a percentage of GDP. The model allows us to evaluate the effects of changes in the prices of export commodities and global interest rates, as well as the impact of monetary and fiscal policies on output, price level, exchange rate, and the domestic interest rate. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, A contextual approach to women's entrepreneurship in Latin America: impacting research and public policy(Inderscience Publishers, 2021-01-01)The field of 'women in entrepreneurship' is growing attention from public policy and academia. However, the literature has been dominated by models and frameworks that were developed mostly in developed economies with a set of particular characteristics that do not match the Latin American reality. This conceptual paper identifies five contextual conditions to consider while analysing women's entrepreneurship in Latin America compared to the Northern Hemisphere: 1) high rates of women's entrepreneurship; 2) high rates of informality; 3) traditional culture and self-expression; 4) low rates of innovation-based ventures; 5) developing ecosystems. We discuss how these contextual conditions interact with the COVID-19 pandemic and economic crisis. Finally, both a research agenda and a public agenda are suggested. This article calls for a Latin American research perspective on women entrepreneurs and suggests that promoting women into sustainable entrepreneurship contributes to regional development, impacts economic activity, improves income distribution, reduces poverty and fosters gender equality.1 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Tracer Hydrology Practices, Challenges, and Opportunities Across Latin America and the Caribbean(Wiley, 2026-01-01)Tracer hydrology in Latin America and the Caribbean has made significant progress in recent decades, largely through the sustained support of the International Atomic Energy Agency (IAEA). Current practices show water stable isotope applications and precipitation-groundwater monitoring at the core of most networks, providing valuable insights into recharge mechanisms, groundwater to surface water connectivity, pollution tracking, and climate variability. Despite these advances, critical challenges persist, including short and fragmented monitoring records, limited capture of extreme events, restricted data accessibility, and persistent barriers related to funding, analytical capacity, and weak policy integration. Improving science communication emerges as an urgent need to transform technical findings into actionable knowledge that informs decision-makers and empowers communities. Opportunities exist to build on IAEA's legacy by sustaining long-term networks, diversifying tracer applications, mobilizing citizen science in monitoring efforts, expanding modeling and laboratory capacity, and advocating for FAIR data sharing across end-users. Strengthened collaboration across the region, improved communication, and deeper policy engagement can elevate tracer hydrology into a pillar of regional water governance and hydro-climate resilience.