This book investigates the two-way relationship between debt and democracy in Latin America. It examines the evidence about how regime type influenced the choice of policy to deal with foreign creditors and related economic issues.

This book offers a new approach to studying foreign aid in the 21st century. While most analysts focus on the differences between traditional and emerging donors, Stallings and Kim here argue that a more important distinction is between East Asian donors and their western counterparts. Asian donors - Japan, South Korea, and China - cross the traditional and emerging divide and demonstrate a particular approach to development that draws on their own dramatic success. As East Asia continues its upward trajectory of economic development, the politics of aid can reveal surprising truths about the objectives and mechanisms of soft power and diplomacy in creating new networks in the region. This book will be of interest to NGO workers, scholars, and students of international relations, a critical part of research into Asia's rise and the emerging spheres of influence.

This book argues that Latin America must confront two main challenges: greater innovation to increase productivity, and greater inclusion to incorporate more of the population into the benefits of economic growth. These two tasks are interrelated, and both require greater institutional capacity to facilitate both innovation and inclusion. Most countries in Latin America are struggling to escape what economists label "the middle income trap." While much if not all of the region has emerged from low income status, neither growth nor productivity has increased sufficiently to enable Latin America to narrow the gap separating it from the world's most developed economies. Although income inequality has diminished across much of the region in recent years, social vulnerability remains widespread and institutional weaknesses continue to plague efforts to achieve equitable development. This volume identifies lessons that can be learned and adapted from experiences within the region and in East Asia, where the middle income trap has largely been avoided. This book is the result of a collaborative project undertaken by American University's Center for Latin American & Latino Studies (CLALS) and the Corporation for Latin American Studies (CIEPLAN) in Chile, with financial support from the Inter-American Development Bank's Office of Strategic Planning and Development Effectiveness.

This book offers a new approach to studying foreign aid in the 21st century. While most analysts focus on the differences between traditional and emerging donors, Stallings and Kim here argue that a more important distinction is between East Asian donors and their western counterparts. Asian donors - Japan, South Korea, and China - cross the traditional and emerging divide and demonstrate a particular approach to development that draws on their own dramatic success. As East Asia continues its upward trajectory of economic development, the politics of aid can reveal surprising truths about the objectives and mechanisms of soft power and diplomacy in creating new networks in the region. This book will be of interest to NGO workers, scholars, and students of international relations, a critical part of research into Asia's rise and the emerging spheres of influence.

This book investigates the two-way relationship between debt and democracy in Latin America. It examines the evidence about how regime type influenced the choice of policy to deal with foreign creditors and related economic issues.

This book argues that Latin America must confront two main challenges: greater innovation to increase productivity, and greater inclusion to incorporate more of the population into the benefits of economic growth. These two tasks are interrelated, and both require greater institutional capacity to facilitate both innovation and inclusion. Most countries in Latin America are struggling to escape what economists label "the middle income trap." While much if not all of the region has emerged from low income status, neither growth nor productivity has increased sufficiently to enable Latin America to narrow the gap separating it from the world's most developed economies. Although income inequality has diminished across much of the region in recent years, social vulnerability remains widespread and institutional weaknesses continue to plague efforts to achieve equitable development. This volume identifies lessons that can be learned and adapted from experiences within the region and in East Asia, where the middle income trap has largely been avoided. This book is the result of a collaborative project undertaken by American University's Center for Latin American & Latino Studies (CLALS) and the Corporation for Latin American Studies (CIEPLAN) in Chile, with financial support from the Inter-American Development Bank's Office of Strategic Planning and Development Effectiveness.

This account of the interplay of politics and economics in Chile in three successive administrations ending with the 1973 coup suggests that social class plays a major role in determining the outcome of economic policies in Latin America. As the author demonstrates, the nature of the class alliance that controls the state apparatus in Chile, together with the actions of foreign capital, determines not only the type of economic policies followed, but their outcomes as well.
A comparison of the three regimes of Jorge Alessandri (1958-64), Eduardo Frei (1964-70), and Salvador Allende (1970-73) is especially important because they represent the main approaches to economic development available to all Third World countries today. The three regimes are compared in terms of policies on property relations, government expenditure, credit, investment, wages, prices, employment, and foreign investment. The outcomes are analyzed through data on economic growth and income distribution. In a concluding chapter, the author comments on the meaning of the Chilean experience for other countries.

By the end of 1985, Latin Americans owed their foreign creditors $368 billion. That was nearly $1,000 for every man, woman, and child between the Rio Grande and Tierra del Fuego. The debt represented more than half of the region's gross domestic product, and interest payments alone consumed 36 percent of export revenues. If profits are added to interest, and the total compared to new capital inflows, the drama of the situation becomes clear: a real resource transfer from Latin American was under way. More than three-fourths of Latin America's debt was owed to several hundred commercial banks with headquarters in North America, Europe, and Japan. Banker to the Third World examines why the loans that precipitated the 1985 debt crisis were made, how these loans were similar to, and different from, other loans, what solutions to the crisis would be effective, and how such problems could be avoided in the future. When originally published, this title presented a new and timely analysis of the crisis; today it serves as a historical exploration that will give readers a better understanding of both Latin American economic history and more recent foreign debt crises. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1987.

The way external forces influence political and economic outcomes in developing countries is an ongoing concern of scholars and policymakers. In the 1970s and 1980s, dependency analysis was a popular way of approaching this topic, but it later fell into disrepute. This Element argues that it may be useful to revamp dependency to interpret China's new relationships with developing countries, including Latin America. Economic links with China have become important determinants of the region's development. Stallings discusses the dependency debates, reviews the way dependency operated in the US-Latin American case, and analyzes the growing Chinese presence within a dependency framework.

In the last ten to fifteen years, the Latin American and Caribbean region has undergone the most significant transformation of economic policy since World War II. Through a series of structural reforms, an increasing number of countries have moved from closed, state-dominated economies to ones that are more market oriented and open to the rest of the world. Policymakers expected that these changes, in conjunction with lower rates of inflation and increased spending in the social area, would speed up economic growth, increase productivity, and lead to the creation of more jobs and greater equality. Have those expectations been fulfilled? Analyzing the impact of the reforms in nine countries (Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Jamaica, Mexico, Peru), this study provides a detailed picture of progress to date. At the overall regional level, the book suggests, the reforms have had a surprisingly small impact: a small positive impact on investment and growth, and a small negative impact on employment and income distribution. But at the country, sectoral, and microeconomic levels, it finds evidence of strong effects, with some units doing very well and others falling behind.

This book offers a new perspective in studying contemporary development. Part I explores how the ending of the cold war, shifting relations among capitalist powers, changing patterns of finance, globalization of trade and production, and new ideological currents have altered development in four major third-world regions. Part II suggests how development options were molded by the dominant international power in each region: the United States in Latin America, Japan in East and Southeast Asia, and Europe with the international financial institutions in Africa. Part III provides a conceptual framework for analyzing regional performance: variation in economic capacity, trade opportunities, and access to finance shaped the development chances of each region, producing rapid growth in Asia, stagnation in Latin America, and economic contraction in sub-Saharan Africa during the 1980s and early 1990s. It also speculates about future trends based on varying development models.

This book offers a new perspective in studying contemporary development. Part I explores how the ending of the cold war, shifting relations among capitalist powers, changing patterns of finance, globalization of trade and production, and new ideological currents have altered development in four major third-world regions. Part II suggests how development options were molded by the dominant international power in each region: the United States in Latin America, Japan in East and Southeast Asia, and Europe with the international financial institutions in Africa. Part III provides a conceptual framework for analyzing regional performance: variation in economic capacity, trade opportunities, and access to finance shaped the development chances of each region, producing rapid growth in Asia, stagnation in Latin America, and economic contraction in sub-Saharan Africa during the 1980s and early 1990s. It also speculates about future trends based on varying development models.