The greater openness of developing countries' economies and the free trade agreements negotiated in recent years have spurred arguments in favor of greater integration in the world; they have also given rise to strong opposition. In some cases the opposition stems from the reaction of specific, domestically oriented sectoral interests, and in others from the activism of groups adhering to what has been termed "globophobia". Regrettably, the implementation of the Hemispheric Cooperation Program (HCP) has been constrained by the paralysis of the Free Trade Area of the Americas (FTAA) negotiations, and thus has been extremely slow. Although the future of the HCP process is unclear, the experience to date in the Hemisphere provides a sufficient basis to analyze its origin and peculiarities, as well as its chief difficulties and determinants. The bilateral negotiations between the United States and Central America, the Dominican Republic and the Andean countries also provide important input for the analysis in this study, and the lessons learned can be very helpful to ensuring the successful implementation of the HCP.

In this paper we survey the recent literature assessing the development impact of international migrant remittances. We begin by arguing that international migration should be fully incorporated in ongoing debates on the impact of globalization. We show that, despite methodological challenges, there is an emerging body of evidence suggesting that migrant remittances can have an important impact on development and household welfare. Remittances appear to help in poverty reduction, accumulation of human capital, investment and saving. Finally, we offer an account of existing policies and recommendations to facilitate remittance flows and to take advantage of their developmental potential.

China's emergence has raised pointed questions about the future of manufacturing in Latin America. This paper looks at this challenge and its implications. It begins by asking: Does manufacturing still matter for Latin America? It argues that the region cannot afford to turn its back to a well-proven road to development. It then moves on to show that endowments, productivity, scale and the government's role, all work together to make China a formidable competitor. The importance of this challenge is confirmed by an analysis of the trade data, which suggests a small impact so far, but a disquieting trend.

The authors analyze the ownership and use of income-generating assets, as well as access to them. Where there are market imperfections, they propose policies to ease the constraints faced by the poor in accumulating the human, physical and social capital they need to generate greater income."--BOOK JACKET.

This edition of the World Bank has been revised and expanded by the Terminology Unit in the Languages Services Division of the World Bank in collaboration with the English, Spanish, and French Translation Sections. The Glossary is intended to assist the Bank's translators and interpreters, other Bank staff using French and Spanish in their work, and free-lance translator's and interpreters employed by the Bank. For this reason, the Glossary contains not only financial and economic terminology and terms relating to the Bank's procedures and practices, but also terms that frequently occur in Bank documents, and others for which the Bank has a preferred equivalent. Although many of these terms, relating to such fields as agriculture, education, energy, housing, law, technology, and transportation, could be found in other sources, they have been assembled here for ease of reference. A list of acronyms occurring frequently in Bank texts (the terms to which they refer being found in the Glossary) and a list of international, regional, and national organizations will be found at the end of the Glossary.