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Author: Pacific Council on International Policy
Publisher: iUniverse
ISBN: 0595385850
Category : Business & Economics
Languages : en
Pages : 77
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Book Description
In spite of the defeat of hyperinflation and improvements in macroeconomic management, the 1990s Washington Consensus-based reforms failed to reverse long-existing declines in productivity in Latin America. They also failed to create adequate local credit markets necessary for higher and more stable growth. By neglecting key matters of distribution, social welfare and investment in the region's human resources, the reforms have limited the prospects for long-term growth and left millions of Latin Americans feeling as if they have little stake in democratic governance and market economics. Drawing upon insights from top political and economic analysts from Latin America and the United States, Latin America after the Washington Consensus: Re-assessing Policies and Priorities discusses the need to reduce current levels of inequality and unemployment, invest in education to increase productivity and competitiveness, and strengthen the capacity of the state to withstand changes in the global economy. Reaching higher rates of growth would solve many of the region's problems, but most Latin American countries have yet to generate the institutional and social conditions that would sustain such growth and endow local economies with more resilience. Warning against one-size-fits-all solutions, Latin America after the Washington Consensus insists that each Latin American state must respond to these challenges with pragmatic strategies based on its own strengths and weaknesses.
Author: Pacific Council on International Policy
Publisher: iUniverse
ISBN: 0595385850
Category : Business & Economics
Languages : en
Pages : 77
Get Book Here
Book Description
In spite of the defeat of hyperinflation and improvements in macroeconomic management, the 1990s Washington Consensus-based reforms failed to reverse long-existing declines in productivity in Latin America. They also failed to create adequate local credit markets necessary for higher and more stable growth. By neglecting key matters of distribution, social welfare and investment in the region's human resources, the reforms have limited the prospects for long-term growth and left millions of Latin Americans feeling as if they have little stake in democratic governance and market economics. Drawing upon insights from top political and economic analysts from Latin America and the United States, Latin America after the Washington Consensus: Re-assessing Policies and Priorities discusses the need to reduce current levels of inequality and unemployment, invest in education to increase productivity and competitiveness, and strengthen the capacity of the state to withstand changes in the global economy. Reaching higher rates of growth would solve many of the region's problems, but most Latin American countries have yet to generate the institutional and social conditions that would sustain such growth and endow local economies with more resilience. Warning against one-size-fits-all solutions, Latin America after the Washington Consensus insists that each Latin American state must respond to these challenges with pragmatic strategies based on its own strengths and weaknesses.
Author: Pedro-Pablo Kuczynski Godard
Publisher: Peterson Institute for International Economics
ISBN:
Category : Business & Economics
Languages : en
Pages : 404
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Book Description
Examines the nature of the economic policy agenda that the region should be pursuing after the better part of a decade that was punctuated by crises, achieved disappointingly slow growth, and saw no improvement in the region's highly skewed income distribution. Diagnoses the first-generation (liberalizing and stabilizing) reforms that are still lacking, the complementary second-generation (institutional) reforms that are necessary to provide the institutional infrastructure of a market economy with an egalitarian bias, and the new initiatives that are needed to crisis-proof the economies of the region to end its perpetual series of crises.
Author:
Publisher: Peterson Institute
ISBN: 9780881325928
Category : Latin America
Languages : en
Pages : 398
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Book Description
Examines the nature of the economic policy agenda that the region should be pursuing after the better part of a decade that was punctuated by crises, achieved disappointingly slow growth, and saw no improvement in the region's highly skewed income distribution. Diagnoses the first-generation (liberalizing and stabilizing) reforms that are still lacking, the complementary second-generation (institutional) reforms that are necessary to provide the institutional infrastructure of a market economy with an egalitarian bias, and the new initiatives that are needed to crisis-proof the economies of the region to end its perpetual series of crises.
Author: Narcís Serra
Publisher: Oxford University Press, USA
ISBN: 019953408X
Category : Business & Economics
Languages : en
Pages : 399
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Book Description
Introduction: From the Washington Consensus towards a new global governance / Narcís Serra, Shari Spiegel, Joseph E. Stiglitz -- A short history of the Washington Consensus / John Williamson -- Inequality and redistribution / Paul Krugman -- Is there a post-Washington Consensus consensus? / Joseph E. Stiglitz -- The Barcelona development agenda -- A broad view of macroeconomic stability / José Antonio Ocampo -- The wild ones : industrial policies in the developing world / Alice H. Amsden -- Sudden stop, financial factors, and economic collapse in Latin America : learning from Argentina and Chile / Guillermo A. Calvo, Ernesto Talvi -- Towards a new modus operandi of the international financial system / Daniel Cohen -- The world trading system and implications of external opening / Jeffrey A. Frankel -- The world trading system and development concerns / Martin Khor -- Reforming labor market institutions : unemployment insurance and employment protection / Olivier Blanchard -- International migration and economic development / Deepak Nayyar -- The future of global governance / Joseph E. Stiglitz -- Growth diagnostics / Ricardo Hausmann, Dani Rodrik, Andrés Velasco -- A practical approach to formulating growth strategies / Dani Rodrik.
Author: Douglas S. Massey
Publisher: SAGE Publications, Incorporated
ISBN:
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
During the 1990s, the United States encountered an unprecedented economic upsurge. The duration and scope of this boom led many policymakers in D.C., to believe they had finally found a magic formula for sustained economic growth and seamless national development. Labeled the Washington Consensus, this free-market approach was a shift away from regulation and government intervention toward allowing the markets work themselves out on a global level. Was it magic? After all, this was an era where the markets for goods, services, capital, and labor burst forth from North America, Western Europe, and Japan to stretch across the globe. The Soviet Union had collapsed and East and Southeast Asian economies were flourishing. Globalization and A New World Order became the slogans of the day. In what some scholars and policymakers view as a massive social experiment, the U.S. Treasury and the International Monetary Fund (IMF) began leaning on Latin American countries to dismantle their economic regime of import substitution industrialization (ISI). Without a firm understanding of the complexities involved, international lenders pressed for implementation of the Washington Consensus – advocating governments to step out of the way and let the markets do their work. Yet every nation has a different history when it comes to the process of market creation. The attempt to apply a blanket formula on countries with divergent political, social, and cultural legacies flopped miserably. Supporters of the Washington Consensus discovered their magic formula was merely a myth. Although Chile, which already had strong institutional foundations, came closest to succeeding in the implementation of the Washington Consensus, places like Mexico, Peru, Venezuela, and Argentina met with political and economical turmoil that shook their countries to the core. Pulling from a wellspring of knowledge, expertise, and experience from representatives of sociology, economics, demography, anthropology, and urban studies, this special issue of The ANNALS provides a coherent chain of evidence that reveals how the idea for structural adjustment in Latin America arose, how it was applied, the negative consequences it had, and the lessons learned. Sprung from a request by the Andrew W. Mellon Foundation on "Urban Studies and Demography," this collection of thought-provoking articles is the result of a two-year pilot research project conducted by faculty and students affiliated with the Population Studies Center and the Urban Studies program at the University of Pennsylvania. Students, researchers, and policymakers in public affairs, economics, anthropology, international affairs, sociology, urban studies, population studies, and others will gain clarity and insight into this complex phase of world economic history.
Author: José Antonio Ocampo
Publisher: Oxford Handbooks
ISBN: 9780198716136
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Latin America has been central to the main debates on development economics, ranging from the relationships between income inequality and economic growth, and the importance of geography versus institutions in development, to debates on the effects of trade, trade openness and protection on growth and income distribution. Despite increasing interest in the region there are few English language books on Latin American economics. This Handbook, organized into five parts, aims to fill this significant gap. Part I looks at long-term issues, including the institutional roots of Latin America's underdevelopment, the political economy of policy making, the rise, decline and re-emergence of alternative paradigms, and the environmental sustainability of the development pattern. Part II considers macroeconomic topics, including the management of capital account booms and busts, the evolution and performance of exchange rate regimes, the advances and challenges of monetary policies and financial development, and the major fiscal policy issues confronting the region, including a comparison of Latin American fiscal accounts with those of the OECD. Part III analyzes the region's economies in global context, particularly the role of Latin America in the world trade system and the effects of dependence on natural resources (characteristic of many countries of the region) on growth and human development. It reviews the trends of foreign direct investment, the opportunities and challenges raised by the emergence of China as buyer of the region's commodities and competitor in the world market, and the transformation of the Latin America from a region of immigration to one of massive emigration. Part IV deals with matters of productive development. At the aggregate level it analyzes issues of technological catching up and divergence as well as different perspectives on the poor productivity and growth performance of the region during recent decades. At the sectoral level, it looks at agricultural policies and performance, the problems and prospects of the energy sector, and the effects on growth of lagging infrastructure development. Part V looks at the social dimensions of development; it analyzes the evolution of income inequality, poverty, and economic insecurity in the region, the evolution of labor markets and the performance of the educational sector, as well as the evolution of social assistance programs and social security reforms in the region. The contributors are leading researchers that belong to different schools of economic thought and most come from countries throughout Latin America, representing a range of views and recognising the diversity of the region. This Handbook is a significant contribution to the field, and will be of interest to academics, graduate students and policy makers interested in economics, political economy, and public policy in Latin America and other developing economies.
Author: Eduardo Lora
Publisher: World Bank Publications
ISBN: 0821365762
Category : Political Science
Languages : en
Pages : 474
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Book Description
Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or 'second generation' reforms. 'The State of State Reform in Latin America' reviews and assesses the outcomes of these less studied institutional reforms. This book examines four major areas of institutional reform: a. political institutions and the state organization; b. fiscal institutions, such as budget, tax and decentralization institutions; c. public institutions in charge of sectoral economic policies (financial, industrial, and infrastructure); and d. social sector institutions (pensions, social protection, and education). In each of these areas, the authors summarize the reform objectives, describe and measure their scope, assess the main outcomes, and identify the obstacles for implementation, especially those of an institutional nature.
Author: Rodrigo Martínez
Publisher: UN
ISBN:
Category : Political Science
Languages : en
Pages : 312
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Book Description
Foreword .-- Introduction .-- Part 1. Social policy institutions. -- Chapter I. Institutional framework for social development / Rodrigo Martínez, Carlos Maldonado Valera .-- Chapter II. Social development and social protection institutions in Latin America and the Caribbean: overview and challenges / Rodrigo Martínez, Carlos Maldonado Valera .-- Part 2. Components and institutional framewoek of social protection. -- Chapter III. Labour market regulation and social protection: institutional challenges / Mario D. Velásquez Pinto .-- Chapter IV. Institutional aspects of Latin America's pension systems / Andras Uthoff .-- Chapter V. Care as a pillar of social protection: rights, policies and institutions in Latin America / María Nieves Rico, Claudia Robles .-- Part 3. Policies for specific populations and their institutional framework .-- Chapter VI. Life cycle and social policies: youth institutions in the region / Daniela Trucco .-- Chapter VII. Disability and public policy: institutional progress and challenges in Latin America / Heidi Ullmann .-- Chapter VIII. Latin American Afrodescendants: institutional framework and public policies / Marta Rangel.
Author: Rainer Schweickert
Publisher:
ISBN:
Category : Asia
Languages : en
Pages : 40
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Book Description
Author: John Williamson
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 558
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Book Description
This volume examines the record of Latin American adjustment efforts and assesses the challenges that lie ahead. It examines the Washington consensus on how ten major policy instruments - including fiscal deficits, tax reform, exchange rates, and deregulation - should be used to address Latin America's current problems. Ten country studies and accompanying commentaries assess public attitudes in each country toward these reforms, the progress made since 1982 in implementing them, and the impact of policy changes on economic performance.
