Latin American Economic Development 1st Edition by Javier Reyes, Charles Sawyer – Ebook PDF Instant Download/Delivery: 9780415486132 ,0415486130
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ISBN 10: 0415486130
ISBN 13: 9780415486132
Author: Javier Reyes, Charles Sawyer

Latin America is one of the most interesting 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. Latin American Economic Development provides the most up to date exploration of how this happened with a focus on why the continent can be considered to have underperformed, how the various Latin American economies function and the future prospects for the region. This textbook addresses the economic problems of Latin America theme by theme. The first four centuries of Latin American economic development are explained with reference to historical and institutional factors; the role of commodities; import substitution industrialization; and the resultant slow growth of the region. The development of Latin America during the twentieth century is examined through the policies of governments toward international trade and the management of the exchange rate. A result of these policies was the accumulation of significant debt in the region that resulted in substantial economic instability. The final section of the book explains how all of these themes have contributed to two dominant problems for the region: poverty and inequality. The purpose of this book is to provide a comprehensive text for increasingly popular undergraduate economics courses on Latin America. However, the book has been carefully designed for use by both students majoring in economics and for those in other disciplines looking for a wide-ranging guide to the region. This book should be an invaluable resource for undergraduates looking at Latin American economics, growth and development.

Latin American Economic Development 1st Edition Table of contents:

1. Latin America and the world economy

Introduction

Latin America and the world

The economic output of Latin America

GDP per capita in Latin America

Latin America and international trade

Capital flows and Latin America

Latin America and world resources

Latin America and the world: a summary

Recurring themes in Latin American economic development

Major economic policy debates in Latin America

Key terms and concepts

Questions for review and discussion

References and recommended readings

2. Economic growth and Latin America

Introduction

Institutional basics

A basic model of economic growth

The Latin American labor market

Capital and Latin America

New growth theory

Growth accounting in Latin America

Institutions and growth in Latin America

Key concepts and terms

Questions for review and discussion

References and recommended readings

3. Growth and the environment in Latin America

Introduction

Pollution as a negative externality

Pollution and environmental policy

Environmental issues in Latin America

The environment and growth

Key concepts and terms

Questions for review and discussion

References and recommended readings

4. Latin American economic history

Introduction

The colonial period

Independence and post-colonial turmoil

The Golden Age: 1870–1914

Wars and depression

Import substitution

The Lost Decade of the 1980s

Key concepts and terms

Questions for review and discussion

References and recommended readings

5. Latin America and primary commodities

Introduction

Commodities in Latin America: a brief history

The microeconomics of commodities

The macroeconomics of commodities

Commodities and economic development

Commodities and Dutch disease

Key concepts and terms

Questions for review and discussion

References and recommended readings

6. Import substitution in Latin America

Introduction

Structuralism, dependency theory, and ISI

How ISI worked

The results of ISI

Key concepts and terms

Questions for review and discussion

References and recommended readings

7. Latin American trade policy

Introduction

Comparative advantage

Comparative advantage and ISI

Comparative advantage, factor prices, and the distribution of income

The economic effects of tariffs and quotas

Latin American trade policy

Latin America and GATT/WTO

RTAs in Latin America

Key concepts and terms

Questions for review and discussion

References and recommended readings

8. Exchange rate policy

Introduction

The balance of payments

Flexible exchange rates

Fixed exchange rates

The real exchange rate

Managed exchange rates

Key concepts and terms

Questions for review and discussion

References and recommended readings

9. Financing current account deficits

Introduction

Debt vs. equity

FDI

Portfolio capital

Official development assistance

Remittances

Debt

The role of the IMF

Key concepts and terms

Questions for review and discussion

References and recommended readings

10. Macroeconomic policy in Latin America

Introduction

Fiscal policy in Latin America

Financing deficits and the money supply

The money supply, prices, and GDP

Economic populism

Key concepts and terms

Questions for review and discussion

References and recommended readings

11. Macroeconomic stability

Introduction

Commodity price shocks

Oil shocks

Debt and exchange rate shocks

The Lost Decade

The recovery from the Lost Decade

Key concepts and terms

Questions for review and discussion

References and recommended readings

12. Poverty and inequality

Introduction

Poverty in Latin America

Income inequality

Causes of poverty and inequality

ISI

Reducing poverty and inequality

Key concepts and terms

Questions for review and discussion

References and recommended readings

Glossary

Notes

Index

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