Americas Articles

The views expressed below are those solely of the interviewee and do not, in any way, represent the views of the Federal Reserve Bank of Boston or the Federal Reserve System.


What will be the role of derivatives and complex financial instruments in the future? Looking at the current financial crisis, how is that going to change?


By Chris Foote  |  April 8, 2009

The global financial crisis of 2008-2009 has prompted many industrialized states worldwide to increase their stakes in private corporations. This wave of partial nationalizations has come amidst full scale expropriations in developing countries such as Venezuela, Bolivia, and Ecuador. Does this signal a return of “state capitalism”? If so, what should we expect of the state-owned enterprises (SOEs) that spring back into economic life?

By Aldo Musacchio, Francisco Flores-Macias  |  April 4, 2009

Oil, former Venezuelan oil minister Juan Pablo Perez Alfonzo famously noted, is “the devil’s excrement.” Ironically, his own country has ignored this prophetic warning most of all. In Venezuela and many other Latin American countries, huge nationalized petroleum companies have firmly entrenched themselves as the means to national wealth and power even though corruption, inefficiency, and innovative stagnation often characterize such industries.

By Collin Galster  |  March 21, 2009

There is no doubt that the global image of the United States is not what it once was. Over the past eight years, the Bush Administration’s foreign policies—Iraq, the war on terror, perceived US unilateralism—have been widely opposed, and the United States’s reputation has suffered as a consequence. But there is hope for a revival of the United States’s standing in the world.

By Andrew Kohut, Richard Wike  |  March 21, 2009

An old idea, that the US military should play an active and extensive role in the “reconstruction” of conflict zones in which it is involved, is gaining renewed popularity among US authorities. There is strong sociological evidence that this tilt is a strategic mistake. I first briefly report on the new calls for increased dedication of military assets and training to this mission, then lay out the reasons this course cannot be followed.

By Amitai Etzioni  |  March 13, 2009

On January 22, 2009, US President Barack Obama, in one of his first official acts, issued an executive order requiring the closure of the controversial detention facilities at Guantanamo Bay, Cuba and halting the equally contentious military commission proceedings. The order, an abrupt shift in US policy, requires a mandatory review of the factual and legal basis for continued detention of the remaining detainees with the stated goal of determining their final disposition. Dependent upon the review’s findings, possibilities for the detainees include release, transfer, prosecution in a US federal court, or, if necessary, some other form of disposition.


By Major Shane Reeves, US Army  |  March 2, 2009

Within the last decade, several presidents, especially in resource-reliant countries, have attempted to remold their countries' constitutional design for their own benefit by removing presidential term limits. It appears that these attempts have been largely successful in allowing incumbents to stay in power. Just slightly more than a week ago, Venezuelan President Hugo Chavez won a referendum that allows him to run for re-election indefinitely after his tenure expires in 2012.

By Farid Guliyev  |  February 28, 2009

After 58 years of absence, the US Fourth Fleet went back to business on July 1, 2008 in the southern West Hemisphere. If the event had occurred in 1990s, the Argentine government would probably have welcomed the initiative and even anticipated further enhancing the “special relationship” that the Carlos S. Menem administration had with the United States. But times have changed.

By Khatchik DerGhougassian  |  January 9, 2009

Mr. President, you are internationally recognized as an advocate on behalf of the developing world. How has the international arms trade—“licit” and illicit—affected the economic growth of the world’s poorest nations? More specifically, how has weapons trading impacted the economies of Latin America?

By Oscar Arias Sanchez  |  January 4, 2009

How is China reacting to the financial crisis in terms of collaboration with the West?

By Edward Friedman  |  December 20, 2008