Working Group on Development
and Environment in the Americas

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The Working Group on Development and Environment in the Americas, founded in 2004, brings together economic researchers from several countries in the Americas who have carried out empirical studies of the social and environmental impacts of economic liberalization. The Working Group’s goal is to contribute empirical research and policy analysis to the ongoing policy debates on national economic development strategies and international trade. The Working Group held its inaugural meeting in Brasilia, March 29-30, 2004.

Foreign Investment and Sustainable Development:
Lessons from the Americas

The Working Group’s second policy report provides a comprehensive review of the impacts of foreign investment liberalization in Latin America.  The report shows that foreign investment has fallen far short of stimulating broad-based economic growth and environmental protection in the region.  The report recommends that national and regional policies aimed at improving national firms’ capabilities should be implemented and that the “policy space” for such policies should be accommodated in bi-lateral, regional and global trade and investment treaties.

The 50-page report was published by GDAE with the Heinrich Böll Foundation, Boston University’s Frederick Pardee Center for the Study of the Longer-Range Future, the Center for Economic Transformation (CENIT) in Argentina, the Center of Industrial and Technological Economics (NEIT) in Brazil, and Research and Information Systems for Developing Countries (India).  An executive summary, summaries of the ten country studies, and policy recommendations, is available in English below, with Spanish and Portuguese translations in process. The full papers on which the report is based are available as Working Group Discussion Papers below. The edited volume, Rethinking Foreign Investment for Sustainable Development: Lessons from Latin America, with a foreword by Jose Antonio Ocampo, was published by Anthem Press (2009).

Download Policy Report (PDF)
Download Executive Summary (PDF)

Download Policy Report (Spanish) (PDF)
Download Executive Summary (Spanish) (PDF)

For Events and Press Coverage of this report, click here

Discussion Papers

See full Discussion Paper Series

“Is Foreign Investment Always Good for Development?” Manuel R. Agosin. Working Group Discussion Paper DP09, April 2008. Download paper.

“Foreign Direct Investment and Transnational Corporations in Brazil: Recent Trends and Impacts on Economic Development,”
Celio Hiratuka. Working Group Discussion Paper DP10, April 2008. Download paper.

“The Impact of Foreign Direct Investment in Mexico,”
Enrique Dussel Peters. Working Group Discussion Paper DP11, April 2008. Download paper.

“Foreign Investment and Sustainable Development in Argentina,” Daniel Chudnovsky, Andrés López. Working Group Discussion Paper DP12, April 2008. Download paper.

“Foreign Investment and Economic Development in Costa Rica: The Unrealized Potential,” Jose Cordero, Eva Paus. Working Group Discussion Paper DP13, April 2008. Download paper.

“Foreign Direct Investment, International Rules and Sustainable Development: Some preliminary lessons from the Uruguayan pulp mills case,” Martina Chidiak. Working Group Discussion Paper DP14, April 2008. Download paper.

“Effects of Foreign Investment versus Domestic Investment on the Forestry Sector in Latin America (Chile and Brazil) -Demystifying FDI effects related to the Environment,” Nicola Borregaard, Annie Dufey, Lucy Winchester. Working Group Discussion Paper DP15, April 2008. Download paper.

“Natural Resources & Foreign Investors: A tale of three Andean countries,” Leonardo Stanley. Working Group Discussion Paper DP16, April 2008. Download paper.

“Beyond Pollution Haloes:  The Environmental Effects of FDI in the Pulp and Paper and Petrochemicals Sectors in Brazil,” Luciana Togeiro de Almeida, Sueila dos Santos Rocha. Working Group Discussion Paper DP17, April 2008. Download paper.

“FDI Spillovers and Sustainable Industrial Development: Evidence from U.S. Firms in Mexico’s Silicon Valley,” Lyuba Zarsky, Kevin Gallagher. Working Group Discussion Paper DP18, April 2008. Download paper.

Justice Denied: Dispute Settlement in Latin America's Trade and Investment Agreements,” Michael Mortimore, Leonardo Stanley. Working Group Discussion Paper DP27, October 2009. Download paper.

Don't Expect Apples From a Pear Tree: Foreign Direct Investment and Innovation in Mexico,” Enrique Dussel Peters. Working Group Discussion Paper DP28, November 2009. Download paper.

“Standing Tall: BRICs Improve FDI Impacts and Reduce Risks,” Michael Mortimore, Leonardo Stanley. Working Group Discussion Paper DP29, January 2010. Download paper.

FDI and Development: After the Washington Consensus,” Andrés López. Working Group Discussion Paper DP30, May 2010. Download paper.

“'Smoke but do not inhale': Capital Inflows, Financial Markets and Institutions, a Tale from Three Emerging Giants," Leonardo E. Stanley. Working Group Discussion Paper DP31, October 2011. Download paper.

"Capital inflows, bank deregulation and financial institutions: from repression to crash? Argentina and South Korea compared." Leonardo E. Stanley. Working Group Discussion Paper DP32, October 2011. Download paper.

"Chinese FDI in Latin America: Does Ownership Matter?" Enrique Dussel Peters. Working Group Discussion Paper DP33, November 2012. Download paper.

"Chinese Investment and Sustainable Development in Peru: A Comparative Analysis" Amos Irwin and Kevin P. Gallagher. Working Group Discussion Paper DP34, December 2012. Download paper.

Working Group Members

Manuel R. Agosin
A specialist in International Economics and Macroeconomics, he is currently Professor, Department of Economics, University of Chile, post he has held since 1992. He also works on a regular basis for the Inter-American Development Bank as Consultant. Between 2001 and early 2006 he was Chief Economist for Central America, Dominican Republic, Haiti, and Mexico at the Inter-American Development Bank in Washington, D.C. He holds a Ph.D. from Columbia University and a first degree from the University of Chile. He has been economic advisor to several Latin American governments and a consultant to the United Nations and international financial institutions. He has published several books in Spanish and English and is the author of numerous articles published in international journals.

Martina Chidiak
An economist (from Argentina) with special interest and background in both Industrial and Environmental Economics. Graduated at the University of Buenos Aires, with further studies at University College London (MSc in Environmental and Resource Economics) and Ecole des Mines de Paris (Docteur, specialité Economie Industrielle). Research and consultancy experience mostly focused on Climate Change, Firms’ Environmental Management, Public-Private Partnerships (Voluntary Agreements) and International Trade and Environment issues. Previous engagements as consultant to international organisations (such as ECLAC; GTZ, and JICA) and government bodies (European Commission, ADEME –France-, Environmental Secretariat, Argentina). Currently works as independent consultant. As of March 2007, Lecturer in Environmental Economics (University of Buenos Aires)

Daniel Chudnovsky
Daniel Chudnovsky (1944-2007) was Director of the Centro de Investigaciones para la Transformación (CENIT) and Professor at the Universidad de San Andrés. He worked as an economist for UNCTAD in Geneva, Switzerland, and as the first Director of the Center for International Economics in Buenos Aires. He was Director of CENIT (Centro de Investigaciones para la Transformación) since its foundation. He directed several international research projects and was a consultant to ECLAC, UNCTAD, UNIDO, IADB, INTAL, the World Bank, IDRC, the Development Centre of the OECD and the UNDP. He was Full Professor at University of San Andrés, where he taught courses on Development Economics, International Business and Technological Innovation in undergraduate and postgraduate programs.

Andrés López
Andrés Lopez is currently the Director of the Centro de Investigaciones para la Transformación (CENIT), where he has been working since 1991. He has been consultant of various international institutions, such as ECLAC, UNCTAD, IADB, INTAL, IDRC, WIPO, JICA y UNPD. He is also Associate Professor at the University of Buenos Aires, where he teaches courses in undergraduate and postgraduate programs. Furthermore, he is Professor in graduate and postgraduate programs at the Universities of San Andrés and General Sarmiento and in FLACSO.

Jose Cordero
Jose Antonio Cordero is Professor of Economics at the University of Costa Rica, where he was Director of the Economics Department from 2001 to 2005. He is presently Visiting Professor at Mount Holyoke College.

Eva Paus
Eva Paus is Professor of Economics and the Carol Hoffmann Collins Director of the McCulloch Center for Global Initiatives at Mount Holyoke College, Massachusetts, USA. She has published widely on different aspects of globalization and development. Her most recent publications include Global Capitalism Unbound: Winners and Losers from Offshore Outsourcing (Palgrave Macmillan, 2007), and Foreign Investment, Development, and Globalization. Can Costa Rica Become Ireland? (Palgrave Macmillan 2005, University of Costa Rica Press, 2007). Her current research projects focus on the implications of the rise of China for the development prospects of (other) developing countries, the dilemma of policy space for pro-active development policies under current international multi-lateral and bilateral trade agreements, and the role of foreign investment in the development of recent EU accession countries.

Nicola Borregaard
Nicola Borregaard holds a PhD in Land Economy from Cambridge University, and a Master in Economics from SUNY at Albany, she has created the Environmental Economics Unit in the National Commission on Environment in Chile, was Executive Director of the Centro de Investigación y Planificación del Medio Ambiente, CIPMA, and one of the founders and Executive Director of Recursos e Investigación para el Desarrollo Sustentable, RIDES. Between 2004 and 2008 she has worked in the public sector. First, between 2004 and 2006, as an Advisor to the Chilean Minister of Economy and, between 2006 and 2008, as Director of the National Energy Efficiency Program.
She is author of numerous publications in the area of environmental economics and trade and environment.

Annie Dufey
Annie Dufey is a Research Associate in the Environmental Economics Programme at the International Institute for Environment and Development (IIED) in London. She leads the programme on “Trade, Natural Resources and Poverty” at IIED and is a major contributor to the programme on Direct Investment and Sustainable Development. Before joining IIED in 2004, Annie worked in Santiago, Chile with Recursos e Investigación para el Desarrollo Sustentable (RIDES) and Centro de Investigación y Planificación del Medio Ambiente (CIPMA) on trade and sustainable development issues. Annie also worked for Gemines Consultores, a major consultancy company in Chile, on a range of macroeconomic and sectoral studies including environmental economic issues. Annie holds a degree in Economics from the University of Chile, and a Masters in Environment, Development and Policy from the University of Sussex.

Lucy Winchester
Agricultural Economist (MA, Michigan State University, USA), currently freelance consultant in sustainable development in Chile and Latin America. Previously Expert to Sustainable Development and Human Settlements Division, Economic Commission for Latin America and the Caribbean and, Senior Researcher to SUR, Centre for Social Studies and Education (Chilean Independent Research and Training Centre). Specialist in evaluation of public policies and programmes in social policy, urban and municipal development, and poverty. Consultant to United Nations Commission for Sustainble Development, UN-Habitat, Chilean Government, among others. Recent publications:

Leonardo Stanley
Economist, School of Economic and Social Sciences, Universidad de Mar del Plata. Programa de Teoría Económica, Instituto de Desarrollo Económico y Social, Buenos Aires (1992 - 1993). MA in Science in Economics, Queen Mary & Westfield, London University, United Kingdom (1994 - 1995). Diplome d’Etudes Approfondies - Analyse Economique: Modélisation et Méthodes Quantitatives, Universidad de Evry Val-d'Essone, France (1998-2000). Visiting Researcher in the Department of Economics, CEDES. Teaches at graduate and undergraduate levels in several universities and institutions.

Enrique Dussel Peters
Enrique Dussel Peters, BA and MA studies in Political Science at the Free University of Berlin (1989) and PhD in Economics at the University of Notre Dame (1996). Since 1993 he works as a full time professor at the Graduate School of Economics at Universidad Autónoma Nacional de México (UNAM). He has taught more than 90 courses at the BA, MA and PhD level in Mexico and internationally, and participated in more than 260 national and international seminars and conferences. His research has concentrated on theory of industrial organization, economic development, political economy, as well as on the manufacturing sector, trade and regional specialization patters in Latin America and Mexico. He has collaborated and coordinated projects with Universidad National Autónoma de México (UNAM), Economic Commission for Latin America and the Caribbean (ECLAC), the International Labor Organization (ILO), Ford Foundation and the Inter-American Development Bank (IADB), among other institutions. He has received several research distinctions in 2000 and 2004.

Luciana Togeiro de Almeida
Luciana Togeiro de Almeida is currently a Visiting Scholar at GDAE. She is a former President of the Brazilian Society for Ecological Economics (ECOECO) and current member of the ECOECO and ISEE boards. She holds a Doctorate in Economics from the Sao Paulo State University at Campinas and is Assistant Professor in the Department of Economics at the São Paulo State University at Araraquara, Brazil. She currently teaches Economics of the Environment, International Economics, Social and Economic Development, and International Trade and Sustainable Development. She is presently researching environmental issues in the WTO negotiations and in MERCOSUR. Her recent books include Globalization and the Environment: Lessons from the Americas (edited with Kevin P. Gallagher and Hernan Blanco), and has published widely trade and sustainable development issues in general.  In addition, she has served as a consultant and advisor to the Brazilian Ministry of the Environment and to numerous environmental NGOs.

Celio Hiratuka
Celio Hiratuka received his Ph.D. in economics from the State University of Campinas (UNICAMP), Brazil. His main fields of interest are international economics, technological change, industrial policy and development economics. He is currently Assistant Professor at the Institute of Economics of State University of Campinas and director of the Center of Industrial and Technology Economics (NEIT) in the same University. His most recent works focuses on the impacts of transnational corporations and foreign direct investment in the Brazilian economy. He is also member of the Mercosur Economic Research Network, a research institution that links twelve research centers with broad experience in the analysis of the MERCOSUR integration process.

Lyuba Zarsky
Lyuba Zarsky is associate professor of international environmental policy at the Monterey Institute for International Studies and Senior Research Fellow with GDAE's Globalization and Sustainable Development Program. She was formerly the Director of the Globalization and Governance Program at the Nautilus Institute for Security and Sustainability in Berkeley, California. She has written widely on global trade and investment, corporate accountability, and sustainable development, including the recent books, Human Rights and the Environment: Conflicts and Norms in a Globalizing World, and Beyond Good Deeds: Case Studies and A New Policy Agenda for Corporate Accountability. In addition, she has consulted with a number of international organizations, including the OECD Environment Directorate, the World Wide Fund for Nature, and the Asian Development Bank.

Kevin P. Gallagher
Kevin P. Gallagher is assistant professor of international relations at Boston University, where directs the Global Governance and Development Program at the Center for International Relations.  He is the author of The Enclave Economy: Foreign Investment and Sustainable Development in Mexico’s Silicon Valley (with Lyuba Zarsky), and Free Trade and the Environment: Mexico, NAFTA, and Beyond in addition to numerous reports, articles, and opinion pieces on trade policy, development, and the environment. He has been the editor or co-editor for a number of books, including Putting Development First: the Importance of Policy Space in the WTO and IFIs, International Trade and Sustainable Development, and others. Professor Gallagher is also a research associate at the Global Development and Environment Institute of the Fletcher School of Law and Diplomacy and Tufts University, an adjunct fellow at Research and Information System for Developing Countries in Delhi, India, and a member of the US-Mexico Futures Forum.

Roberto Porzecanski
Roberto Porzecanski, a pre-doctoral fellow at GDAE, is a doctoral candidate at the Fletcher School of Law and Diplomacy at Tufts. His research focuses on the political economy of foreign investment in the Southern Cone. He is the author of (in Spanish) Not On Board:Uruguay and the Prospects for a Free Trade Agreement with the United States, 2000-2010 (Debate, Random House Mondadori, June 2010) and co-author of The Dragon in the Room: China and the Future of Latin American Industrialization, with Kevin P. Gallagher, Stanford University Press, 2010 (forthcoming).

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