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.
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