The Decline of Latin American Economies: Growth, Institutions, and Crises
The Decline of Latin American Economies: Growth, Institutions, and Crises
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Abstract
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. This book examines the reality behind the struggling economies of Argentina, Chile, and Mexico. A 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, the book illustrates how a once-prosperous continent now lags behind, and offers insight into the relationship between political systems and economic development.
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Front Matter
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Introduction
Sebastian Edwards and others
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I Economic Growth, Taxation, and Institutions
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1
When Did Latin America Fall Behind?
Leandro Prados de la Escosura
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2
Before the Golden Age: Economic Growth in Mexico and Portugal, 1910–1950
Pedro Lains
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3
Inequality and the Evolution of Institutions of Taxation: Evidence from the Economic History of the Americas
Kenneth L. Sokoloff andEric M. Zolt
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1
When Did Latin America Fall Behind?
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II Financial Crises, Lending, and Inflation
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4
Financial Crises, 1880–1913: The Role of Foreign Currency Debt
Michael D. Bordo andChristopher M. Meissner
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5
The True Measure of Country Risk: A Primer on the Interrelations between Solvency and the Polity Structure of Emerging Markets, Argentina 1886–1892
Gerardo della Paolera andMartín Grandes
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6
Related Lending: Manifest Looting or Good Governance? Lessons from the Economic History of Mexico
Noel Maurer andStephen Haber
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Sudden Stops and Currency Drops: A Historical Look
Luis A. V. Catão
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8
Establishing Credibility: The Role of Foreign Advisors in Chile's 1955–1958 Stabilization Program
Sebastian Edwards
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4
Financial Crises, 1880–1913: The Role of Foreign Currency Debt
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III Protectionism and Economic Performance
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End Matter
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