This semiannual journal from the Latin American and Caribbean Economic Association (LACEA) provides a forum for influential economists and policymakers to share high-quality research directly applied to policy issues within and among those countries. Contents include: NAFTA and Convergence in North America Norbert Fiess and Daniel Lederman (World Bank) and William Easterly (New York University) NAFTA and Manufacturing Productivity in Mexico Ernesto. López Córdova (IADB) Privatizing Telecommunications in Peru Máximo Torero and Alberto Pasco-Font (GRADE) and Enrique Schroth (Ecole des HEC Université de Lausanne) Highway Franchising in Latin America Ronald Fischer and Alexander Galetovic (Universidad de Chile, CEA) and Eduardo Engel (Yale) Reforming Labor Markets in Brazil Gustavo Gonzaga (Pontifícia Universidade Católica do Rio de Janeiro)