First no matter how authors look at the issue remittances are extremely important in the latin american context with remittances estimated to have topped more than us50 billion in 2006 latin america is now the main destination of these flows second remittances generate a number of important positive contributions to economic development in particular they tend to reduce poverty and . Although the latin american regions growth rates are at a three decade high they have been historically disappointing in relative terms which cannot be dissociated from the microeconomic environment in which firms operate policy makers may need to complement their focus on macroeconomic stability with an increased emphasis on microeconomic reforms. Does the investment climate matter microeconomic foundations of growth in latin america edited by pablo fajnzylber jose luis guasch j humberto lopez 1st ed p cm latin american development forum series isbn 978 0 8213 7411 5 print isbn 978 0 8213 7412 2 electronic 1 investments latin america i fajnzylber pablo ii . Does the investment climate matter microeconomic foundations of growth in latin america latin american development forum amazonde fajnzylber pablo guasch j lopez j fremdsprachige bucher. By providing empirical evidence linking actual firm performance to shortcomings in latin americas investment climate the book discusses policies that could have a significant impact on firm productivity by improving the environment in which firms invest and operate this publication belongs to the latin american development forum series ladf sponsored by the inter american development