Primary economist Caroline Beetz Fenske, PhD, has conducted research and written reports / news articles on a wide range of economic topics, including economic development, international trade, technological innovation, labor markets, and productivity.
Excerpt from an article on economist Robert Solow in the Martha’s Vineyard Times, July 16, 2009
Robert Solow, who calls himself ‘the friendly up-Island economist,’ spoke at the Old Whaling Church early last week. Dr. Solow is a 1987 Nobel Prize winner and has been a professor of economics at MIT for the past 40 years. He talked about how the highly leveraged financial sector contributed to the financial crisis, with resulting declines in wealth and consumer spending leading to a downturn in the real economy. He praised his former student Ben Bernanke, Chairman of the Federal Reserve, for his unorthodox approach of lending to the commercial markets to mitigate the crisis. Dr. Solow jokingly compared Dr. Bernanke to Captain Kirk, ‘Daring to loan where no man has loaned before.’ Dr. Solow spoke about improving financial regulations to prevent a financial crisis from happening again. He said for the most part he likes the Obama Administration’s regulatory reform policies, although he would go further and give regulators discretion in setting policies. He suggests this because ‘financial engineers’ and their lawyers continually find ways to circumvent existing regulations. Dr. Solow, known for his theories of economic growth, does not expect the economy to start growing again until the end of this year or early next year, and predicts a recovery in the labor market to take even longer.
“The Export Performance of Latin America and East Asia in Technology-intensive Manufactures,” in The Handbook of Latin American Trade in Manufactures, Montague Lord, ed., 1998
By Caroline Beetz Fenske
Technology-intensive manufactures are an important and growing component of manufacturing exports of Latin America, particularly in the larger economies of the region. Further expansion of these types of products are essential to the future economic health of the region, given the trend towards declining world prices for many of the region’s traditional primary commodity exports. Despite significant advances in technology-intensive goods, the region’s export performance is still well below that of the East Asian ‘miracle countries.’ Increases in human resource investment and other sources of technology transfer, and further integration of international business and technology networks would facilitate the region’s penetration into these profitable export markets. Governments can play an important role in promoting this sector by maintaining a stable macroeconomic environment and a competitive real exchange rate, and by providing industries with appropriate infrastructure.
“Trade and Investment Flows Between Europe and Latin America and the Caribbean,” in Latin America’s Competitive Position in the Enlarged European Market, Bernard Fischer/Albrecht Von Gleich/Wolf Grabendorff (eds.), 1994
By Caroline Beetz and Willy Van Ryckeghem
Largely successful stabilization and structural reforms implemented in Latin America and the Caribbean in recent years include trade liberation and measures to facilitate foreign direct investment (FDI). These reforms paved the way for an acceleration of trade and investment with Europe. The worldwide trend toward globalization of manufacturing activities and increased intra-industry trade also contribution to the rise of FDI into the region.
“Economic Performance in Latin America and the Caribbean” in Development Policy, a newsletter on policy research by the Inter-American Development Bank, March 1993. By Caroline Beetz
The Latin American and Caribbean region continued its promising economic recovery in 1992 despite slow growth of the world economy and a further decline in the terms of trade. During the year, the countries of the region further opened their economies to world trade and greatly increased their integration with world capital markets. Gross domestic product (GDP) in the region grew by 2.6 percent in 1992 after a 3.2 percent rise in 1991….While a great deal remains to be accomplished to improve economic conditions throughout the region, the outlook for sustained recovery in 1993 and beyond remains favorable.
“ NAFTA Negotiations Completed” in Development Policy, a newsletter on policy research by the Inter-American Development Bank, September 1992. By Caroline Beetz
Over time, as Mexico’s economy expands and the country accumulates greater human capital and technological resources, the sophistication of the country’s manufacturing exports is expected to increase. Improved access to the latest technology will be possible with the greater inflow of foreign direct investment and faster growth of imports embodying advanced technology. In addition, with the correct incentives put in place by the environmental authorities, Mexico is likely to adopt “cleaner” as well as more efficient technologies.
C. Beetz, Determinants of International Comparative Advantage: A Case Study of the Computer Hardware Industry, June 1991. Selected results were included in the USITC publication: Global Competitiveness of U.S. Advanced-Technology Industries: Computers, December 1993.