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Hofman, a researcher with the Chile-based Economic Commission for Latin America and the Caribbean, uses growth accounting methods and previously unavailable long-term series data to assess the economic performance of the region during the century from a comparative and historical perspective. In particular he compares Latin American economies to those of advanced capitalist economies, to newly industrialized economies, and to Spain and Portugal because of the historical ties. He looks at the reasons for the poor or negative growth during the 1980s and the apparent recovery in the 1990s and at such problems as debt, income inequality, high inflation, cyclical instability, and political and policy instability. Annotation copyrighted by Book News, Inc., Portland, OR
In the 1990s, 'protection', 'import substitution' and 'intervention' have become dirty words, part of the 'leyenda negra' of Latin America development in the postwar period. This book attempts a fresh look at the controversial years between the end of the Second World War and the point when, at varying dates in different countries, a discontinuity occurs in which the postwar 'style of development' ceased to play a central role in the economic evolution of the region. The analysis is based on seven case studies covering eleven countries.
A comprehensive Statistical Appendix provides regional and country-by-country data in such areas as GDP, manufacturing, sector productivity, prices, trade, income distribution and living standards."--BOOK JACKET.
Latin America is one of the most intriguing parts of the world. The region’s illustrious history, culture, and geography are famous internationally, but in terms of economics, Latin America has been generally associated with problems. For many, the combination of a resource rich region and poor economic conditions has been a puzzle. This extensively revised and updated second edition of Latin American Economic Development continues to provide the most up to date exploration of why the continent can be considered to have underperformed, how the various Latin American economies function, and the future prospects for the region. The book addresses the economic problems of Latin America theme by theme. Changes and new features in this new edition include: Expanded coverage of how institutions affect economic growth in Latin America Many new boxes and questions for review and discussion New material on how climate change affects the region Updated material to reflect the ongoing macroeconomic stability of the past decade A new chapter on the political economy of Latin America The book provides a comprehensive text for undergraduate economics courses on Latin America, and is also suitable for use by students in other disciplines looking for a wide-ranging guide to the region. This book will continue to be an invaluable resource for undergraduates looking at Latin American economics, growth, and development.
A comprehensive balanced portrait of the factors affecting economic development in Latin America, first published in 2003.
"This is an introductory survey of the history and recent development of Latin American economy and society from colonial times to the establishment of the military regime in Chile. In the second edition the historical perspective has been enlarged and important events since the Cuban Revolution, such as the agrarian reforms of Peru and Chile, the difficulties of the Central America Common Market and LAFTA, the acceleration of industrialisation in Brazil and the consolidation of the Cuban economy, are discussed. The statistical information has been extended to the early 1970s and the demographic data to 1975"--Back cover.
The question of development is a major topic in courses across the social sciences and history, particularly those focused on Latin America. Many scholars and instructors have tried to pinpoint, explain, and define the problem of underdevelopment in the region. With new ideas have come new strategies that by and large have failed to explain or reduce income disparity and relieve poverty in the region. Why Latin American Nations Fail brings together leading Latin Americanists from several disciplines to address the topic of how and why contemporary development strategies have failed to curb rampant poverty and underdevelopment throughout the region. Given the dramatic political turns in contemporary Latin America, this book offers a much-needed explanation and analysis of the factors that are key to making sense of development today.
Latin America’s economic performance is mediocre at best, despite abundant natural resources and flourishing neighbors to the north. The perplexing question of how some of the wealthiest nations in the world in the nineteenth century are now the most crisis-prone has long puzzled economists and historians. The Decline of Latin American Economies examines the reality behind the struggling economies of Argentina, Chile, and Mexico. A distinguished panel of experts argues here that slow growth, rampant protectionism, and rising inflation plagued Latin America for years, where corrupt institutions and political unrest undermined the financial outlook of already besieged economies. Tracing Latin America’s growth and decline through two centuries, this volume illustrates how a once-prosperous continent now lags behind. Of interest to scholars and policymakers alike, it offers new insight into the relationship between political systems and economic development.
Analysis of Latin America's economy focusing on development, covering the colonial roots of inequality, boom and bust cycles, labor markets, and fiscal and monetary policy. Latin America is richly endowed with natural resources, fertile land, and vibrant cultures. Yet the region remains much poorer than its neighbors to the north. Most Latin American countries have not achieved standards of living and stable institutions comparable to those found in developed countries, have experienced repeated boom-bust cycles, and remain heavily reliant on primary commodities. This book studies the historical roots of Latin America's contemporary economic and social development, focusing on poverty and income inequality dating back to colonial times. It addresses today's legacies of the market-friendly reforms that took hold in the 1980s and 1990s by examining successful stabilizations and homemade monetary and fiscal institutional reforms. It offers a detailed analysis of trade and financial liberalization, twenty–first century-growth, and the decline in poverty and income inequality. Finally, the book offers an overall analysis of inclusive growth policies for development—including gender issues and the informal sector—and the challenges that lie ahead for the region, with special attention to pressing demands by the vibrant and vocal middle class, youth unemployment, and indigenous populations.
The forces of industrialisation, urbanisation, globalisation and technological change have washed away the pre-modern outlook of most Latin American economies. Despite the improved opportunities of social mobility offered by economic modernisation, current income inequality levels (still) appear extraordinary high. Has Latin America always been unequal? Did the region fail to settle a longstanding account with its colonial past? Or should we be reluctant to point our finger so far back in time? In a comparative study of asset and income distribution Frankema shows that both the levels, and nature, of income inequality have changed significantly since 1870. Besides the deep historical roots of land and educational inequality, more recent demographic and political-institutional forces are taken on board to understand Latin America’s distributive dynamics in the long twentieth century.