Latin America's Economy: Diversity, Trends, and Conflicts

Cardoso, Eliana; Helwege, Ann

doi:10.1111/j.1467-9396.1996.tb00116.x

Cited by 30 publications

(34 citation statements)

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“…High access barriers to decent education reproduced socioeconomic inequality (Birdsall et al 1997;Frankema 2009b;Wegenast 2009;Lindert 2010). A structural oversupply of lowskilled labor occurred in all major Latin American cities, albeit to different degrees (Cardoso and Helwege 1992). 2 Second, many LACs were deeply engaged in import substitution industrialization (ISI) policies between ca.…”

Section: Theories and Hypotheses Of Latin American Wage Inequalitymentioning

confidence: 99%

Industrial Wage Inequality in Latin America in Global Perspective, 1900–2000

Frankema

2011

St Comp Int Dev

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Standard economic theories of wage inequality focus on the factor-biased nature of technological change and globalization. This paper examines the long-run development of industrial wage inequality in Latin America from a global comparative perspective. We find that wage inequality was comparatively modest during the first half of the twentieth century, but rising much faster during the postwar era than in other industrial countries. In-depth analyses of wage inequality trends in Argentina, Brazil, and Chile confirm this pattern, but also reveal notable country peculiarities. In Argentina and Chile, trend breaks coincided with large politicalinstitutional shocks while in Brazil, wage inequality increased unabated under the wage regulation policies of successive post-war administrations. We argue that without taking national policies with respect to education and the labor market into account, economic theory cannot explain "Latin American" patterns of wage inequality.

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Section: Theories and Hypotheses Of Latin American Wage Inequalitymentioning

confidence: 99%

Industrial Wage Inequality in Latin America in Global Perspective, 1900–2000

Frankema

2011

St Comp Int Dev

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“…As a continent, Latin America has a long history of fiscal deficits and unsustainable debt ratios, monetary excesses, rapid inflation and severe balance of payment problems (Cardoso and Helwege, 1992;Bird and Helwege, 1994). Frequently these have resulted in the International Monetary Fund (IMF) becoming involved and offering advice about the design of economic policy.…”

Section: Introductionmentioning

confidence: 99%

Foreign exchange pressures in Latin America: Does debt matter?

Mandilaras

Bird

2008

J of Intl Development

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Latin American countries have been in the eye of economic and ¯nancial storms several times in recent years. Advice from the International Monetary Fund has consistently highlighted the need for sound fiscal policies and lower debt levels. But is public debt relevant? Following a brief discussion of the theoretical issues involved, this paper examines empirically the relationship between public indebtedness and pressures in the foreign exchange market. Alternative measures are used to capture the latter and the analysis controls for a de facto classi¯cation of exchange rate regimes. Estimations of static and dynamic panels for 28 Latin American and Caribbean (LAC) countries report substantial fiscal effects

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“…After attaining national independence in the early 19 th century, South American countries were characterized by growth based on exports of primary goods and an outward-looking orientation, which perpetuated patterns installed during colonization (Cardoso and Helwege 1992). This export-led growth implied dependency and limited conditions for development.…”

Section: Macroeconomic Structures: Argentina Bolivia and Brazilmentioning

confidence: 99%

“…The theoretical foundations of ISI in South America were formulated by Raúl Prebisch (1949) andCelso Furtado (2007). Commonly applied tools were import quotas and tariffs, overvalued exchange rates, and direct government investment in key industries (Bulmer-Thomas 1994;Cardoso and Helwege 1992;Scott 2011;Weaver 2000).…”

Section: Macroeconomic Structures: Argentina Bolivia and Brazilmentioning

confidence: 99%

South America's biophysical involvement in international trade: the physical trade balances of Argentina, Bolivia, and Brazil in the light of ecologically unequal exchange

Dorninger

Eisenmenger²

2016

Journal of Political Ecology

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International trade is becoming increasingly important in the strategies of industrialized economies ('core' countries) to meet their physical needs and maintain their social metabolism. Less industrialized ('non-core') countries, in particular those with low population densities such as countries in South America, provide a large share of the natural resources currently being used by the 'core' countries. This article analyzes the relations of biophysical exchange of Argentina, Bolivia, and Brazil with global 'core' and 'non-core' countries in order to add to a discussion of possible relations of different national economic policies, such as import substituting industrialization or neoliberal adjustment, on the countries' physical trade balances (PTBs). By that we will provide a biophysical reading of ecologically unequal exchange; by investigating whether there is a physical net trade flow from 'non-core' to 'core' countries, whether primary products dominate exports of 'non-core' countries in exchange for processed products from 'core' countries, and whether the notion of unfavorable mass-to-price relation for the trading 'non-core' countries applies (Hornborg 2012;Martinez-Alier 2007). The magnitudes, type of material, stage of processing and monetary value of the traded goods are analyzed for the time period from 1962 to 2011. The evaluations have been carried out for trade relations with the 'core' and the 'non-core' countries separately. Additionally, in order to trace the so-called China Effect, which led to the period of new extractivism, the quantities exported to China are shown separately. The results indicate that the three countries examined are net exporters of physical quantities. The physical involvement in 'core'-and 'non-core'-related international trade differs greatly, but at the same time the relative importance of the 'core' as trading partner has decreased steadily over the five decades. Still, 'core'-related trade involves the most unfavorable mass-to-price relation. These conditions, i.e. high importance of unprocessed export commodities, low average unit prices, and an unfavorable monetary trade balance (MTB), reveal many characteristics of an ecologically unequal exchange. This is especially true for Argentina and Brazil. Due to its lower economic performance and limited involvement in international trade, Bolivia to some extent represents an exception. Keywords: Ecologically unequal exchange, physical trade balance, South America, Argentina, Bolivia, Brazil. RésuméLe commerce international devient de plus en plus important pour les économies industrialisées afin de satisfaire leurs besoins matériels et maintenir leur fonctionnement social. Les pays en voie de développement, en particulier ceux qui présentent une faible densité de population comme l'Amérique du Sud, fournissent une 1 Christian Dorninger, PhD candidate, Faculty of Sustainability, Leuphana University of Lüneburg, Germany. E-mail: christian.dorninger "at" leuphana.de. This article is based on his Masters thesis i...

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Latin America's Economy: Diversity, Trends, and Conflicts

Cited by 30 publications

References 0 publications

Industrial Wage Inequality in Latin America in Global Perspective, 1900–2000

Industrial Wage Inequality in Latin America in Global Perspective, 1900–2000

Foreign exchange pressures in Latin America: Does debt matter?

South America's biophysical involvement in international trade: the physical trade balances of Argentina, Bolivia, and Brazil in the light of ecologically unequal exchange

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