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The Latin American economies, once among the most productive in the world, were already falling behind the advancing economies of the North Atlantic by 1800. A century later, nearly all were "underdeveloped." In the twentieth century, most grew respectably but none managed to catch up. What explains these trends? How important were Latin America's changing relations with the evolving global economy? What hypotheses should be rejected or modified?
This study, now in a revised and updated third edition, covers the economic history of Latin America from independence in the 1820s to the present. It stresses the differences between Latin American countries while recognizing the external influences to which the whole region has been subject. Victor Bulmer-Thomas notes the failure of the region to close the gap in living standards between it and the United States and explores the reasons. He also examines the new paradigm taking shape in Latin America since the debt crisis of the 1980s and asks whether this new economic model will be able to bring the growth and improvement in equity that the region desperately needs. This third edition contains a wealth of new material that draws on the new research in the area in the past ten years.
A comprehensive and accessible overview of the economic history of Latin America over the two centuries since Independence. It considers its principal problems and the main policy trends and covers external trade, economic growth, and inequality.
The continued growth of the Latin American economy is documented in this account of the economic and social consequences of its integration as a primary producer in the expanding international economy.
Volume Two treats the 'long twentieth century' from the onset of modern economic growth to the present. It analyzes the principal dimensions of Latin America's first era of sustained economic growth from the last decades of the nineteenth century to 1930. It explores the era of inward-looking development from the 1930s to the collapse of import-substituting industrialization and the return to strategies of globalization in the 1980s. Finally, it looks at the long term trends in capital flows, agriculture and the environment.
This book explores the impact on Latin America of the extraordinary transformation of the international economy that took place in the half century or so that preceded the world depression of the 1930s. The authors show how the response varied in terms of both growth and distribution, shaped by varying preconditions, and by natural resources and geography. The interplay of economic developments with political and social structures had profound and varied effects on policy-making and on institutions that were of great significance for later decades.
How a group of intellectuals and policymakers transformed development economics and gave Latin America a new position in the world. After the Second World War demolished the old order, a group of economists and policymakers from across Latin America imagined a new global economy and launched an intellectual movement that would eventually capture the world. They charged that the systems of trade and finance that bound the worldÕs nations together were frustrating the economic prospects of Latin America and other regions of the world. Through the UN Economic Commission for Latin America, or CEPAL, the Spanish and Portuguese acronym, cepalinos challenged the orthodoxies of development theory and policy. Simultaneously, they demanded more not less trade, more not less aid, and offered a development agenda to transform both the developed and the developing world. Eventually, cepalinos established their own form of hegemony, outpacing the United States and the International Monetary Fund as the agenda setters for a region traditionally held under the orbit of Washington and its institutions. By doing so, cepalinos reshaped both regional and international governance and set an intellectual agenda that still resonates today. Drawing on unexplored sources from the Americas and Europe, Margarita Fajardo retells the history of dependency theory, revealing the diversity of an often-oversimplified movement and the fraught relationship between cepalinos, their dependentista critics, and the regional and global Left. By examining the political ventures of dependentistas and cepalinos, The World That Latin America Created is a story of ideas that brought about real change.
The Cambridge History of Latin America is a large scale, collaborative, multi-volume history of Latin America during the five centuries from the first contacts between Europeans and the native peoples of the Americas in the late fifteenth and early sixteenth centuries to the present. Latin America: Economy and Society since 1930 brings together chapters from Parts 1 and 2 of Volume VI of The Cambridge History to provide a complete survey of the Latin American economies since 1930. This, it is hoped, will be useful for both teachers and students of Latin American history and of contemporary Latin America. Each chapter is accompanied by a bibliographical essay.
While Latin America accounts for approximately 7 percent of the world economy, easily accessible information on the economies of the region is not always easy to find. The existing literature on Latin American economics usually assumes some previous familiarity with the region and is focused on government policy choices. The Economies of Latin America is a book for the general reader needing a quick introduction to the economics of the region. The book is composed of three parts: the first explains Latin America’s economic history and a description of the central economic challenges of the region. The second offers country-specific details. The final part deals with the economic future of the region where the authors put forth a Latin American version of success. This book is a useful, in-depth introduction for students of Latin American economics as well as the general reader.
This textbook serves as an introduction to the major economic topics and events in Latin America’s history, from the settling of the region by indigenous Americans and then Europeans, Africans and Asians, to the economic consequences of COVID-19. Each chapter concentrates on a particular period—for example, pre-Columbian America, the 1980s debt crisis, the 21st Century decline in income inequality—and introduces the concepts needed to understand the events of that period. These concepts include theories such as Dutch Disease and Dependency Theory, policies such as import-substituting industrialization and neoliberalism, and analytical tools such as the circular flow of income and the foreign exchange market. Descriptive data are used to illustrate these concepts: for example, Latin America’s current account balance during the 1970s and 1980s shows the impact of the debt crisis, while the relationship between money supply growth and inflation in Argentina during the 1980s and 1990s shows the impact of expansionary monetary policy and convertibility. With its focus on Latin American economic history and on the key concepts for understanding that history, this book can serve as the core textbook for an introductory course on Latin American Economics, or as a complementary text for an introductory course in Latin American Studies or a social science course on Latin America.