Search

This paper analyzes the relationship between the financial instability generated by shortterm capital flows in the absence of control mechanisms and the restrictions facing the implementation of counter-cyclical fiscal policies in the inflation-targeting regime, using as a springboard the recent financial crises in, specifically, Brazil, Chile, Colombia, Mexico, and Peru, showing how an increase in the issuance of public bonds to, via interventions in the exchange rate market, sterilize the effects of short-term capital flows on the monetary base is a source of endogenous instability, because this mechanism entails risks for the exchange rate and interest rate. [ABSTRACT FROM AUTHOR]

In recent years, the border shared by Peru, Colombia and Brazil has become an enclave of drug production and trafficking for the international markets. It is a territory whose control is disputed by non-state actors and where state security forces suffer from severe material and transport limitations. This paper takes an ethnographic approach to explain the limitations of border security and the institutional challenges of controlling drug and wood trafficking in this context. It places the ideas of reproduction and social change at the centre of the discussion on drugs and borders, as key ways of thinking about the dynamics of growing and processing coca-derived drugs in the global South. [ABSTRACT FROM AUTHOR]