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Latin American income distribution is among the most unequal in the world. Both the poor and the wealthy have paid a price for this inequality, which is in part responsible for the region's low growth rates. The essays in this book propose new ways of reducing inequality, not by growth-inhibiting transfers and regulations, but by enhancing efficiency—eliminating consumption subsidies for the wealthy, increasing the productivity of the poor, and shifting to a more labor and skill-demanding growth path. In Beyond Tradeoffs, Latin American experts demonstrate how market-friendly measures in key policy areas can simultaneously promote greater equity and greater efficiency. By identifying win-win strategies, the authors challenge the conventional wisdom that there is always a tradeoff between these two objectives. Extensive macroeconomic reforms in the region have provided opportunities to implement such strategies across many sectors. The volume aims at building a "Latin consensus" on a second round of reforms—reforms that address the urgent issue of inequality without undermining efficient growth. Contributors include Jonathan Coles, Rene Cortazar, Ricardo Hausmann, Juan Luis Londoño, Nora Lustig, Moises Naím, and Joseph Stiglitz. Copublished with the Inter-American Development Bank
Most of the world's people live in "developing" economies, as do most of the world's poor. The predominant means of economic development is economic growth. In this book Gary Fields asks to what extent and in what circumstances economic growth improves the material standard of living of a country's people. Most development economists agree that economic growth raises the incomes of people in all parts of the income distribution and lowers the poverty rate. At the same time, some groups lose out because of changes accompanying economic growth. Fields examines these beliefs, asking what variables should be measured to determine whether progress is being made and what policies and circumstances cause some countries to do better than others. He also shows how the same data can be interpreted to reach different, even conflicting, conclusions. Using both theoretical and empirical approaches, Fields defines and examines inequality, poverty, income mobility, and economic well-being. Finally, he considers various policies for broad-based growth. Copublished with the Russell Sage Foundation.
Statistical appendix: pp. 219-295.
"This splendid collection by two of our leading political sociologists pioneers new directions in the study of social justice in Latin America. What Justice? Whose Justice? is impassioned scholarship at its best. It brings together detailed studies of rights and institutions, inequality and struggle, citizenship and indigenous politics, war and peace. This book is essential reading for anyone interested in what the so-called triumph of democracy over dictatorship in the region really means today in the lives of the still dispossessed."—Matthew C. Gutmann, author of The Romance of Democracy: Compliant Defiance in Contemporary Mexico "This book offers a stimulating interdisciplinary analysis of the gripping problems of justice, inequality, and citizenship, and of citizen responses to these issues in contemporary Latin America. It is essential reading on these interrelated themes."—Scott Mainwaring, co-editor of Presidentialism and Democracy in Latin America "First-rate contributors address the quality of democracy in several Latin American countries in these readable and provocative essays. The volume focuses particularly on the relation between democracy and the law, on the importance of the past, and on informal politics and indigenous political movements. A must-read for all those who are tracking the course of democracy in the region and who are concerned about its political future."—Jane S. Jaquette, co-editor of Women and Democracy: Latin America and Central and Eastern Europe "For anyone who still assumes that markets plus elections suffice to resolve the problems of injustice that are the political, social, and economic patrimony of Latin America, this book will be a firm wake-up call. At the same time, the excellent case studies in this book make it clear that the current global neoliberal regime is no more effective at suppressing local struggles for justice than the more traditional forms of domination that came before it. It is valuable and provocative reading for anyone interested in understanding the contemporary political dynamics of justice and injustice."—Peter Evans, editor of Livable Cities?
Provides the basic economic tools for students to understand the problems in the countries of Latin America. This third edition analyzes challenges to the neoliberal model of development and highlights macroeconomic changes in the region. It explores the contradictions of growth, and focuses on factors of competitiveness.
Publisher Description
This collection of survey articles sheds light on crucial questions in the field of monetary, financial and macroeconomic policy. Applies rigorous economic theory and empirical analysis to important practical policy issues. Considers the role of the financial sector in economic development. Looks at why financial crises occur and how they can be avoided. Discusses the relationship between macroeconomic adjustment and poverty. Asks if low-inflation rate regimes are at risk from the ‘zero bound’ to nominal interest rates. Provides accessible overviews of recent research into these questions.
Where, when, and how much to invest in wastewater treatment is a policy decision that presents many challenges and is not properly addressed in most situations worldwide. The most common situations are, unfortunately, those in which no treatment is provided at all... The integration of wastewater management and pollution control interventions and policies within the broader water resources management policy are essential for achieving the efficient use of the scarce resource available. With that in mind, this paper has three objectives: * Emphasize the need for systematic evaluation of wastewater management actions and investments as part of any water resources management initiative. * Define the conceptual framework that should guide the analysis process. * Identify and explore techniques appropriate to this analysis. The ultimate purpose of the paper is to provide a general approach to developing and implementing wastewater management interventions. Its scope is determined by two main considerations: (i) the need to incorporate the general principles that determine water resources management policies into the design and selection of wastewater management and pollution control interventions; and (ii) the need to address water quality problems at the appropriate geographical scale.
Subjective well being, or happiness, has been analyzed in detail by psychologists for decades. Yet only recently has it become the subject of economic analysis. In Happiness and Hardship, Carol Graham and Stefano Pettinato provide a new conceptual framework for analyzing the relationship between subjective well being and the political sustainability of market-oriented economic growth in 17 Latin American countries and Russia. Several variables—such as marital status, employment, and inflation—are known to influence happiness. Graham and Pettinato have identified other variables that have important effects on how individuals perceive their well being: macroeconomic volatility, globalization of information, increasing income mobility, and inequality driven by technology-led growth. The authors begin by explaining data and measurement problems involved in studying mobility, and they summarize general trends in developing countries. Second, they provide new data on subjective well being for Latin America and Russia. They find that the socio-demographic determinants of "happiness"—such as the effects of age and unemployment—are very similar to those in the U.S. and Europe. They also find that relative income differences have important effects on how individuals assess their well being. Those in the middle or lower middle of the income distribution are more likely to be dissatisfied than are the very poorest groups. Third, the authors find that volatility in income flows can have negative effects on perceived well being, even among upwardly mobile individuals. Finally, the authors explore the relationship between social capital and mobility. They distinguish between participation driven by economic necessity—such as soup kitchens—and voluntary participation in civic organizations. They find that different objectives underlying civic participation can result in different effects on individual mobility rates, on perceived well being, and on aggregate growth. An age-old puzzle is why some societies seem to tolerate significant degrees of economic hardship and yet retain political and social stability, while others break out into violent protest as a result of much smaller economic declines or shocks. Happiness and Hardship sheds new light on factors that can increase mobility and provide new opportunities for low-income people in developing economies, and possibly improve perceived, as well as actual, well being.
Over the last twenty years Latin America has seen a definitive movement toward civilian rule. Significant trade, fiscal, and monetary reforms have accompanied this shift, exposing previously state-led economies to the forces of the market. Despite persistent economic and political hardships, the combination of civilian regimes and market-based strategies has proved to be remarkably resilient and still dominates the region. This book focuses on the effects of market reforms on domestic politics in Latin America. While considering civilian rule as a constant, the book examines and compares domestic political responses in six countries that embraced similar packages of reforms in the 1980s—Argentina, Brazil, Chile, Mexico, Peru, and Venezuela. The contributors focus on how ambitious measures such as liberalization, privatization, and deregulation yielded mixed results in these countries and in doing so they identify three main patterns of political economic adjustment. In Argentina and Chile, the implementation of market reforms has gone hand in hand with increasingly competitive politics. In Brazil and Mexico, market reforms helped to catalyze transitions from entrenched authoritarian rule. Finally, in Peru and Venezuela, traditional political systems have collapsed and civilian rule has been repeatedly challenged. The contributors include Carol Wise (University of Southern California), Karen L. Remmer (Duke University), Carol Graham (Brookings Institution), Stefano Pettinato (United Nations Development Programme), Consuelo Cruz (Tufts University), Juan E. Corradi (New York University), Delia M. Boylan (Chicago Public Radio), Riordan Roett (Johns Hopkins University), Martín Tanaka (Institute for Peruvian Studies, Lima), and Kenneth M. Roberts (University of New Mexico).