Suchergebnisse

"Economic and social development is a major topic of discussion in courses across the social sciences, particularly those focused on Latin America. Many scholars and instructors have tried to pinpoint, explain, and define the problem of underdevelopment in Latin America. New ideas have led to new strategies that have, by and large, failed to reduce income disparity and relieve poverty in the region. Why Latin American Nations Fail brings together leading Latin Americanists from several disciplines to address how and why contemporary development strategies have failed to promote long-term sustainable growth with improved well-being 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 must be considered in making sense of development today"--Provided by publisher

Este artículo analiza tres temas centrales de la macroeconomía para el desarrollo: el crecimiento, la inversión y la distribución del ingreso, lo cual combina la perspectiva estructuralista y un enfoque poskeynesiano basado en el tratamiento consistente en flujos y acervos a escala macroeconómica. De acuerdo con dos premisas centrales del pensamiento estructuralista —la teorización a partir de la realidad y el hecho de que la institucionalidad y las relaciones distributivas determinan el comportamiento macroeconómico de una economía—, el artículo argumenta que el desempeño macroeconómico de América Latina y el Caribe se caracteriza por tres hechos estilizados. Éstos son la tendencia hacia el estancamiento en el crecimiento económico; el aumento del endeudamiento, y la elevada desigualdad al tener en cuenta sus tres dimensiones (las distribuciones personal y funcional del ingreso, y la distribución de la riqueza). El enfoque poskeynesiano analiza el comportamiento macroeconómico en relación con los balances financieros para el sector gobierno, el sector corporativo no financiero y el sector externo, lo que permite identificar aquellos que impulsan o desalientan el crecimiento económico. Este enfoque se superpone sobre una clasificación de países por estructura productiva/exportadora y subregional.

The Great Depression led to a need to rethink the principles of central banking, as much as it had led to the rethinking of economics in general, with the Keynesian Revolution at the forefront of the theoretical changes. This paper suggests that the role of the monetary authority as a fiscal agent of government and the abandonment of the view of the economy as self-regulated were the central changes in central banking in the center. In addition, in the periphery central banks changed to try to insulate the worst effects of balance of payments crises and the use of capital controls became more common. Marriner S. Eccles, in the United States, and Raúl Prebisch, in Argentina, are paradigmatic examples of those new tendencies of central banking in the 1930s.

Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs crafted by the European Union and the International Monetary Fund in both Greece and Ireland, was caused by fiscal profligacy on the part of peripheral, or noncore, countries in combination with a welfare state model, and that the role of the common currency - the euro - was at best minimal.This paper aims to show that, contrary to conventional wisdom, the crisis in Europe is the result of an imbalance between core and noncore countries that is inherent in the euro economic model. Underpinned by a process of monetary unification and financial deregulation, core eurozone countries pursued export-led growth policies - or, more specifically, beggar thy neighbor policies - at the expense of mounting disequilibria and debt accumulation in the periphery. This imbalance became unsustainable, and this unsustainability was a causal factor in the global financial crisis of 2007-08. The paper also maintains that the eurozone could avoid cumulative imbalances by adopting John Maynard Keynes's notion of the generalized banking principle (a fundamental principle of his clearing union proposal) as a central element of its monetary integration arrangement.

Dollar hegemony is a defining structural feature of the modern international financial order, and it confers significant economic and political privileges on the US. This book explores the political economic foundations of and prospects for dollar hegemony.