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Author: Bertrand Gruss
Publisher: International Monetary Fund
ISBN: 1484330773
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011—and most projections suggest they are not likely to resume the upward trend observed in the last decade. This paper analyzes what this turn in the commodity price cycle may imply for output growth in Latin America and the Caribbean. The analysis suggests that growth in the years ahead for the average commodity exporter in the region could be significantly lower than during the commodity boom, even if commodity prices were to remain stable at their current still-high levels. Slower-than-expected growth in China represents a key downside risk. The results caution against trying to offset the current economic slowdown with demand-side stimulus and underscore the need for ambitious structural reforms to secure strong growth over the medium term.
Author: Bertrand Gruss
Publisher: International Monetary Fund
ISBN: 1484330773
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011—and most projections suggest they are not likely to resume the upward trend observed in the last decade. This paper analyzes what this turn in the commodity price cycle may imply for output growth in Latin America and the Caribbean. The analysis suggests that growth in the years ahead for the average commodity exporter in the region could be significantly lower than during the commodity boom, even if commodity prices were to remain stable at their current still-high levels. Slower-than-expected growth in China represents a key downside risk. The results caution against trying to offset the current economic slowdown with demand-side stimulus and underscore the need for ambitious structural reforms to secure strong growth over the medium term.
Author: Mr. Ravi Balakrishnan
Publisher: International Monetary Fund
ISBN: 1484326091
Category : Business & Economics
Languages : en
Pages : 123
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Book Description
Over the past decades, inequality has risen not just in advanced economies but also in many emerging market and developing economies, becoming one of the key global policy challenges. And throughout the 20th century, Latin America was associated with some of the world’s highest levels of inequality. Yet something interesting happened in the first decade and a half of the 21st century. Latin America was the only region in the World to have experienced significant declines in inequality in that period. Poverty also fell in Latin America, although this was replicated in other regions, and Latin America started from a relatively low base. Starting around 2014, however, and even before the COVID-19 pandemic hit, poverty and inequality gains had already slowed in Latin America and, in some cases, gone into reverse. And the COVID-19 shock, which is still playing out, is likely to dramatically worsen short-term poverty and inequality dynamics. Against this background, this departmental paper investigates the link between commodity prices, and poverty and inequality developments in Latin America.
Author: Beatriz Armendariz
Publisher: MIT Press
ISBN: 0262337878
Category : Political Science
Languages : en
Pages : 461
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Book Description
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.
Author: José Antonio Ocampo
Publisher: Stanford University Press
ISBN: 9780804749565
Category : Business & Economics
Languages : en
Pages : 238
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Book Description
Globalization and Development draws upon the experiences of the Latin American and Caribbean region to provide a multidimensional assessment of the globalization process from the perspective of developing countries. Based on a study by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), this book gives a historical overview of economic development in the region and presents both an economic and noneconomic agenda that addresses disparity, respects diversity, and fosters complementarity among regional, national, and international institutions. For orders originating outside of North America, please visit the World Bank website for a list of distributors and geographic discounts at http://publications.worldbank.org/howtoorder or e-mail
[email protected].
Author: Eduardo A. Cavallo
Publisher: Inter-American Development Bank
ISBN:
Category : Business & Economics
Languages : en
Pages : 121
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Book Description
The 2018 Macroeconomic Report, A Mandate to Grow, revisits the growth debate that has been raging in the region for the past half century. Viewing the debate from this long-term perspective allows for a focus on the structural factors that have prevented Latin America and the Caribbean from reaching the growth potential required to keep pace with faster growing regions and to fulfill the aspirations of its population.
Author: Emily Sinnott
Publisher: World Bank Publications
ISBN: 9780821384824
Category : BUSINESS & ECONOMICS
Languages : en
Pages : 82
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Book Description
"The question of how to treat commodity production and how to manage recurrent cycles of booms and busts has always been a challenge for policymakers in commodity-dependent countries, including many in the LAC region. These challenges have led to allegations of a "commodity curse'' that retards development in these countries, but as of yet, there is no consensus as to whether such a curse exists, and if so, how can negative effects be minimized. This book contributes to this debate. Much of the report is focused on an examination of specific channels through which commodity dependence may affect the economic and institutional development of countries. This includes broadly 4 sets of concerns: one set dealing with the direct economic effects of commodity dependence and the implications for long-term growth; one dealing with the interactions between commodity production and the rents it generates on the one hand, and a country's institutions on the other; a third dealing with the macroeconomic challenges of managing the volatility of revenue flows, including the distributional implications at the household level posed by cyclicality of social spending; and a final set associated with potential negative environmental and social impacts. The book finds that some commonly accepted negative effects of dependence on natural resources are largely myths, while some are realities. But all can be managed, and the book draws on the best available information in existing literature as well as original analysis to provide practical advice on how to do so. It also presents descriptive facts and analysis of the impacts in LAC of the recent commodity boom, helping the reader understand the implications for the region's development and policies. It should be of great interest to policy-makers and analysts, as well as laypersons interested in the economics of commodity markets and their role in economic development."
Author: Luis Serven
Publisher: World Bank Publications
ISBN: 0821383744
Category : Political Science
Languages : en
Pages : 432
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Book Description
Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.
Author: Kevin P. Gallagher
Publisher: Oxford University Press
ISBN: 019024674X
Category : Political Science
Languages : en
Pages : 257
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Book Description
Since 1980, China has evolved from a poor and mostly rural society into one of the largest economies in the world. As it grew into a major industrial power, it demanded enormous amounts of steel for new factories and cities, copper for electronic wires, petroleum for cars and manufacturing plants, and soybeans and cattle to feed its workers. By the 1990s, many Latin American countries were riding China's coattails and beginning to prosper from the new demand. Ever since China entered the World Trade Organization at the turn of the century, Latin America supplied China with more and more of the primary commodities it needs and more. That in turn has produced one the most impressive periods of economic growth on the continent in fifty years. And it was more evenly spread too - a region infamous for its extreme inequality saw it decline by a couple of percentage points over the course of the era. In The China Triangle, Kevin P. Gallagher traces the development of the China-Latin America trade over time and covers how it has affected the centuries-old (and highly unequal) US-Latin American relationship. He argues that despite these opportunities Latin American nations have little to show for riding the coattails of the 'China Boom' and now face significant challenges in the next decades as China's economy slows down and shifts more toward consumption and services. While the Latin American region saw significant economic growth due to China's rise over the past decades, Latin Americans saved very little of the windfall profits it earned even as the region saw a significant hollowing of its industrial base. What is more, commodity-led growth during the China boom reignited social and environmental conflicts across the region. Scholars and reporters have covered the Chinese expansion into East Asia, Southeast Asia, Australasia, Africa, the US, and Europe. Yet China's penetration Latin America is as little understood as it is significant-especially for America given its longstanding ties to the region. Gallagher provides a clear overview of China's growing economic ties with Latin America and points to ways that Latin American nations, China, and even the United States can act in order to make the next decades of China-Latin America economic activity more prosperous for all involved.
Author: Matías Vernengo
Publisher: Univ of California Press
ISBN: 0520964527
Category : History
Languages : en
Pages : 237
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Book Description
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.
Author: José Antonio Ocampo
Publisher: Oxford University Press, USA
ISBN: 019957104X
Category : Business & Economics
Languages : en
Pages : 959
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Book Description
A comprehensive overview of the key factors affecting the development of Latin American economies that examines long-term growth performance, macroeconomic issues, Latin American economies in the global context, technological and agricultural policies, and the evolution of labour markets, the education sector, and social security programmes.
