Market Liberalism, Growth, and Economic Development in Latin America

Market Liberalism, Growth, and Economic Development in Latin America

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Description

The principal themes pursued in this book emerge from the great transformation that the Latin American and the Caribbean economies experienced in the aftermath of both the foreign debt crisis of 1982 and the macroeconomic stabilisation policies that vividly and painfully produced the so-called "lost decade" of the 1980s.





Latin America implemented an economic liberalisation process during the late 1980s and the 1990s. The main policy reforms involved in that course can be summarized as privatization of state owned firms, trade openness, deregulation of the foreign direct investment (FDI) regime and fiscal discipline. Latin American countries have also embarked in regional trade agreements, the most important ones being Mercosur and the North American Free trade Agreement (NAFTA). This book compares results from the experience of North-South and South-South moulds of integration. Thus, the impacts of these policies on growth, development, technological progress, poverty and inequality are analysed. Orthodox and heterodox economic policies and theories are discussed along with relevant empirical evidence with a view to assess, on the one hand, the relative merits of the various policy reforms applied by different countries in the region, and on the other, the experience of integration into the global economy.





There are thirteen chapters in this collection linked in varying ways to the series of economic reforms introduced in the region in the last decades. The book will be of interest to academics, researchers, students and policymakers interested in the study of economic development in emerging economies and in particular in Latin America.
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Product details

  • Paperback | 292 pages
  • 152.4 x 228.6 x 19.05mm | 453.59g
  • ROUTLEDGE
  • London, United Kingdom
  • English
  • Reprint
  • 89 Line drawings, black and white; 64 Tables, black and white; 89 Illustrations, black and white
  • 1138807532
  • 9781138807532

Table of contents

Part 1: Trade Liberalization, Development and Regional Integration 1. Has Trade Liberalisation in Poor Countries Delivered the Promises Expected? Penelope Pacheco-Lopez and A.P. Thirlwall 2. Beyond the Washington Consensus: The Quest for an Alternative Development Paradigm for Latin America Ignacio Perrotini-Hernandez, Juan Alberto Vazquez-Munoz and Blanca L. Avendano-Vargas 3. Foreign Trade and Per Capita Income: New Evidence for Latin America and the Caribbean Humberto Rios-Bolivar and Omar Neme-Castillo 4. Regional Integration and its Effects on Inward FDI in Developing Countries: A Comparison Between North-South (Mexico) and South-South (Brazil) Integration Thomas Goda 5. Trade Blocs as Determinants of Trade Flows in South American Countries: An Augmented Gravity Approach Clemente Hernandez-Rodriguez Part 2: Trade Reforms and Development Experience: Case Studies in Latin America 6. Downhill or the Long Agony of Argentinean Development Alcino Ferreira Camara-Neto and Matias Vernengo 7. The Determinants of FDI in Chile: A Gravity Model Approach Matteo Grazzi 8. Assessment of the Distributive Impact of Trade Reforms in Uruguay Fernando Borraz, Daniel Ferres and Maximo Rossi Part 3: Economic liberalization, Development and Growth in Mexico 9. Economic Liberalization and Income Distribution: Theory and Evidence in Mexico Gerardo Angeles-Castro 10. How Risk Factors Affect Growth in Mexico: A Free-Market Liberalism Approach Francisco Venegas-Martinez 11. Anti-Inflationary Policy and Financial Fragility, a Microeconomic Analysis: The Case of Mexico, 1990 - 2004 Ignacio Perrotini-Hernandez, Blanca Lilia Avendano-Vargas and Juan Alberto Vazquez-Munoz 12. Technological Innovation and Sectoral Productivity in the Mexican Economy: Regional Evidence Jose Carlos Trejo-Garcia, Humberto Rios-Bolivar and Ana Lilia Valderrama-Santibanez 13. The Robustness of Okun's Law: Evidence from Mexico. A Quarterly Validation, 1985.1-2006.4 Eduardo Loria and Leobardo de Jesus
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About Humberto Rios-bolivar

Gerardo Angeles-Castro is Head of Research and Postgraduate Studies at the School of Economics at Instituto Politecnico Nacional, Mexico.


Ignacio Perrotini-Hernandez is Professor and Chair of the Graduate Faculty of Economics at Universidad Nacional Autonoma de Mexico.


Humberto Rios-Bolivar is Research Economist at the School of Economics at Instituto Politecnico Nacional, Mexico.
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