Person:
Ize, Alain

Office of the Chief Economist for Latin America and the Caribbean, The World Bank
Loading...
Profile Picture
Author Name Variants
Fields of Specialization
International finance, Macroeconomics, Monetary policy, Financial sector issues and regulation
Degrees
ORCID
Departments
Office of the Chief Economist for Latin America and the Caribbean, The World Bank
Externally Hosted Work
Contact Information
Last updated: January 31, 2023
Biography
Alain Ize is a senior consultant to the Chief Economist Unit of the Latin America and the Caribbean Region of the World Bank. His research and publications cover issues of international finance and open macroeconomics (including exchange rate, monetary policy and financial dollarization issues), central banking and development banking, financial sector development and regulation, and fiscal policy. Prior to working for the World Bank, he was an Area Chief in the Financial Systems Department of the IMF. He worked previously for the Fiscal Affairs Departments of the IMF (as a senior economist), El Colegio de Mexico (as a professor and Chair of the Economics Department) and Banco de Mexico (as a researcher). He visited the University of California at Davis (1983-84) and Stanford University (1984).
Citations 23 Scopus

Publication Search Results

Now showing 1 - 2 of 2
  • Publication
    Latin America’s Growth: Looking through the Demand Glass
    (World Bank, Washington, DC, 2022-11) de la Torre, Augusto; Ize, Alain
    This paper revisits the historical roots of Latin America’s disappointing growth using a novel macro and trade-based growth decomposition and a simple model of industrialization in a commodities-exporting country with a large informal sector. The approach suggests the need to better qualify two opposite narratives: that the post-1982 (“neoliberal”) reforms have failed, and it is time to look back to the import substitution industrialization era for policy inspiration; and that the post-1982 reforms went in the right direction but must be completed to unleash significant productivity gains. Both can be misleading because they downplay the role of demand. The apparent “miracle” of import substitution industrialization does not provide a realistic point of comparison because it reflected an unsustainable, demand-induced boost in productivity. And the gains expected from Washington Consensus-style reforms alone can be overstated because they are derived from overly restrictive assumptions on demand. By allowing demand to play a more central role, the paper finds a close and revealing relationship between the growth patterns followed by Latin American countries, the quality of their macroeconomic policies, the nature of their trade, and the segmentation of their labor markets. Going forward, the policy agenda calls for an outwardly oriented growth strategy, supported by a more proactive role for the state that promotes not only efficiency in supply, but also the appeal to demand.
  • Publication
    Latin American Growth: A Trade Perspective
    (World Bank, Washington, DC, 2019-06) de la Torre, Augusto; Ize, Alain
    This paper reviews the determinants of Latin America's uneven growth based on an accounting decomposition that breaks down countries' growth (relative to the world) into three trade-related channels: (i) an export pull measuring the traction exerted by the country's exports, (ii) an external leverage measuring the impact of the country's use of external resources, and (iii) a domestic response measuring the impact of the country's imports on its domestic income. This decomposition brings to light three regional growth dynamics: the first is centered on commodities and South America, the second on manufactures and Mexico, and the third on services and Central America. The evidence points toward the need for a trade-oriented growth agenda that puts a premium on raising exports and making countries more attractive to people, not just capital. The latter in turn adds urgency to healing the region’s social fractures and dealing with its institutional weaknesses.