A Monetary and Fiscal History of Latin America, 1960–2017
A Monetary and Fiscal History of Latin America, 1960–2017

Author: Timothy J. Kehoe

Publisher: U of Minnesota Press

Published: 2022-01-11

Total Pages: 643

ISBN-13: 1452965846

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A major, new, and comprehensive look at six decades of macroeconomic policies across the region What went wrong with the economic development of Latin America over the past half-century? Along with periods of poor economic performance, the region’s countries have been plagued by a wide variety of economic crises. This major new work brings together dozens of leading economists to explore the economic performance of the ten largest countries in South America and of Mexico. Together they advance the fundamental hypothesis that, despite different manifestations, these crises all have been the result of poorly designed or poorly implemented fiscal and monetary policies. Each country is treated in its own section of the book, with a lead chapter presenting a comprehensive database of the country’s fiscal, monetary, and economic data from 1960 to 2017. The chapters are drawn from one-day academic conferences—hosted in all but one case, in the focus country—with participants including noted economists and former leading policy makers. Cowritten with Nobel Prize winner Thomas J. Sargent, the editors’ introduction provides a conceptual framework for analyzing fiscal and monetary policy in countries around the world, particularly those less developed. A final chapter draws conclusions and suggests directions for further research. A vital resource for advanced undergraduate and graduate students of economics and for economic researchers and policy makers, A Monetary and Fiscal History of Latin America, 1960–2017 goes further than any book in stressing both the singularities and the similarities of the economic histories of Latin America’s largest countries. Contributors: Mark Aguiar, Princeton U; Fernando Alvarez, U of Chicago; Manuel Amador, U of Minnesota; Joao Ayres, Inter-American Development Bank; Saki Bigio, UCLA; Luigi Bocola, Stanford U; Francisco J. Buera, Washington U, St. Louis; Guillermo Calvo, Columbia U; Rodrigo Caputo, U of Santiago; Roberto Chang, Rutgers U; Carlos Javier Charotti, Central Bank of Paraguay; Simón Cueva, TNK Economics; Julián P. Díaz, Loyola U Chicago; Sebastian Edwards, UCLA; Carlos Esquivel, Rutgers U; Eduardo Fernández Arias, Peking U; Carlos Fernández Valdovinos (former Central Bank of Paraguay); Arturo José Galindo, Banco de la República, Colombia; Márcio Garcia, PUC-Rio; Felipe González Soley, U of Southampton; Diogo Guillen, PUC-Rio; Lars Peter Hansen, U of Chicago; Patrick Kehoe, Stanford U; Carlos Gustavo Machicado Salas, Bolivian Catholic U; Joaquín Marandino, U Torcuato Di Tella; Alberto Martin, U Pompeu Fabra; Cesar Martinelli, George Mason U; Felipe Meza, Instituto Tecnológico Autónomo de México; Pablo Andrés Neumeyer, U Torcuato Di Tella; Gabriel Oddone, U de la República; Daniel Osorio, Banco de la República; José Peres Cajías, U of Barcelona; David Perez-Reyna, U de los Andes; Fabrizio Perri, Minneapolis Fed; Andrew Powell, Inter-American Development Bank; Diego Restuccia, U of Toronto; Diego Saravia, U de los Andes; Thomas J. Sargent, New York U; José A. Scheinkman, Columbia U; Teresa Ter-Minassian (formerly IMF); Marco Vega, Pontificia U Católica del Perú; Carlos Végh, Johns Hopkins U; François R. Velde, Chicago Fed; Alejandro Werner, IMF.

A Monetary History of the United States, 1867-1960
A Monetary History of the United States, 1867-1960

Author: Milton Friedman

Publisher: Princeton University Press

Published: 2008-09-02

Total Pages: 889

ISBN-13: 140082933X

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“Magisterial. . . . The direct and indirect influence of the Monetary History would be difficult to overstate.”—Ben S. Bernanke, Nobel Prize–winning economist and former chair of the U.S. Federal Reserve From Nobel Prize–winning economist Milton Friedman and his celebrated colleague Anna Jacobson Schwartz, one of the most important economics books of the twentieth century—the landmark work that rewrote the story of the Great Depression and the understanding of monetary policy Milton Friedman and Anna Jacobson Schwartz’s A Monetary History of the United States, 1867–1960 is one of the most influential economics books of the twentieth century. A landmark achievement, it marshaled massive historical data and sharp analytics to argue that monetary policy—steady control of the money supply—matters profoundly in the management of the nation’s economy, especially in navigating serious economic fluctuations. One of the book’s most important chapters, “The Great Contraction, 1929–33” addressed the central economic event of the twentieth century, the Great Depression. Friedman and Schwartz argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and countering banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy—an idea that has come to shape the actions of central banks worldwide.

The World That Latin America Created
The World That Latin America Created

Author: Margarita Fajardo

Publisher: Harvard University Press

Published: 2022-02-08

Total Pages: 297

ISBN-13: 0674270029

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How a group of intellectuals and policymakers transformed development economics and gave Latin America a new position in the world. After the Second World War demolished the old order, a group of economists and policymakers from across Latin America imagined a new global economy and launched an intellectual movement that would eventually capture the world. They charged that the systems of trade and finance that bound the world’s nations together were frustrating the economic prospects of Latin America and other regions of the world. Through the UN Economic Commission for Latin America, or CEPAL, the Spanish and Portuguese acronym, cepalinos challenged the orthodoxies of development theory and policy. Simultaneously, they demanded more not less trade, more not less aid, and offered a development agenda to transform both the developed and the developing world. Eventually, cepalinos established their own form of hegemony, outpacing the United States and the International Monetary Fund as the agenda setters for a region traditionally held under the orbit of Washington and its institutions. By doing so, cepalinos reshaped both regional and international governance and set an intellectual agenda that still resonates today. Drawing on unexplored sources from the Americas and Europe, Margarita Fajardo retells the history of dependency theory, revealing the diversity of an often-oversimplified movement and the fraught relationship between cepalinos, their dependentista critics, and the regional and global Left. By examining the political ventures of dependentistas and cepalinos, The World That Latin America Created is a story of ideas that brought about real change.

The Economics of Contemporary Latin America
The Economics of Contemporary Latin America

Author: Beatriz Armendariz

Publisher: MIT Press

Published: 2017-05-05

Total Pages: 461

ISBN-13: 0262337878

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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.

Our Own Backyard
Our Own Backyard

Author: William M. LeoGrande

Publisher: Univ of North Carolina Press

Published: 2009-11-18

Total Pages: 790

ISBN-13: 0807898805

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In this remarkable and engaging book, William LeoGrande offers the first comprehensive history of U.S. foreign policy toward Central America in the waning years of the Cold War. From the overthrow of the Somoza dynasty in Nicaragua and the outbreak of El Salvador's civil war in the late 1970s to the final regional peace settlements negotiated a decade later, he chronicles the dramatic struggles--in Washington and Central America--that shaped the region's destiny. For good or ill, LeoGrande argues, Central America's fate hinged on decisions that were subject to intense struggles among, and within, Congress, the CIA, the Pentagon, the State Department, and the White House--decisions over which Central Americans themselves had little influence. Like the domestic turmoil unleashed by Vietnam, he says, the struggle over Central America was so divisive that it damaged the fabric of democratic politics at home. It inflamed the tug-of-war between Congress and the executive branch over control of foreign policy and ultimately led to the Iran-contra affair, the nation's most serious political crisis since Watergate.

Open Veins of Latin America
Open Veins of Latin America

Author: Eduardo Galeano

Publisher: NYU Press

Published: 1997-01-01

Total Pages: 333

ISBN-13: 0853459916

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Since its U.S. debut a quarter-century ago, this brilliant text has set a new standard for historical scholarship of Latin America. It is also an outstanding political economy, a social and cultural narrative of the highest quality, and perhaps the finest description of primitive capital accumulation since Marx. Rather than chronology, geography, or political successions, Eduardo Galeano has organized the various facets of Latin American history according to the patterns of five centuries of exploitation. Thus he is concerned with gold and silver, cacao and cotton, rubber and coffee, fruit, hides and wool, petroleum, iron, nickel, manganese, copper, aluminum ore, nitrates, and tin. These are the veins which he traces through the body of the entire continent, up to the Rio Grande and throughout the Caribbean, and all the way to their open ends where they empty into the coffers of wealth in the United States and Europe. Weaving fact and imagery into a rich tapestry, Galeano fuses scientific analysis with the passions of a plundered and suffering people. An immense gathering of materials is framed with a vigorous style that never falters in its command of themes. All readers interested in great historical, economic, political, and social writing will find a singular analytical achievement, and an overwhelming narrative that makes history speak, unforgettably. This classic is now further honored by Isabel Allende's inspiring introduction. Universally recognized as one of the most important writers of our time, Allende once again contributes her talents to literature, to political principles, and to enlightenment.

Maras
Maras

Author: Thomas Bruneau

Publisher: University of Texas Press

Published: 2011-12-01

Total Pages: 320

ISBN-13: 0292729286

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Sensational headlines have publicized the drug trafficking, brutal violence, and other organized crime elements associated with Central America's mara gangs, but there have been few clear-eyed analyses of the history, hierarchies, and future of the mara phenomenon. The first book to look specifically at the Central American gang problem by drawing on the perspectives of researchers from different disciplinary backgrounds, Maras: Gang Violence and Security in Central America provides much-needed insight. These essays trace the development of the gangs, from Mara Salvatrucha to the 18th Street Gang, in Los Angeles and their spread to El Salvador, Honduras, Guatemala, and Nicaragua as the result of members' deportation to Central America; there, they account for high homicide rates and threaten the democratic stability of the region. With expertise in areas ranging from political science to law enforcement and human rights, the contributors also explore the spread of mara violence in the United States. Their findings comprise a complete documentation that spans sexualized violence, case studies of individual gangs, economic factors, varied responses to gang violence, the use of intelligence gathering, the limits of state power, and the role of policy makers. Raising crucial questions for a wide readership, these essays are sure to spark productive international dialogues.

History of Modern Latin America
History of Modern Latin America

Author: Teresa A. Meade

Publisher: John Wiley & Sons

Published: 2016-01-19

Total Pages: 408

ISBN-13: 1118772482

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Now available in a fully-revised and updated second edition, A History of Modern Latin America offers a comprehensive and accessible introduction to the rich cultural and political history of this vibrant region from the onset of independence to the present day. Includes coverage of the recent opening of diplomatic relations between the U.S. and Cuba as well as a new chapter exploring economic growth and environmental sustainability Balances accounts of the lives of prominent figures with those of ordinary people from a diverse array of social, racial, and ethnic backgrounds Features first-hand accounts, documents, and excerpts from fiction interspersed throughout the narrative to provide tangible examples of historical ideas Examines gender and its influence on political and economic change and the important role of popular culture, including music, art, sports, and movies, in the formation of Latin American cultural identity Includes all-new study questions and topics for discussion at the end of each chapter, plus comprehensive updates to the suggested readings