- 1. A brief history of Latin American Economics
2.
- Latin American Development
-
-
- Human Development Index (HDI)
3. 4. 5. Why is Latin America considered an LDC?
- Economic factors of production
- Lack of Investment? Insecure property? Protectionism or foreign
influence? Low technology?
6.
-
- Extractive states Latin America funds counter-reformation
-
- No system of checks and balances
-
- Contrast to North American settlers
7.
-
- International competition
-
- Bourbon/Pombal reforms trade and industry
8.
- Building national economies
-
- Fights between conservatives and liberals
-
- Neo-imperialism vs role of elites
-
-
- Backward bending supply curves
-
-
- 1850-post WWII exports grow 4% per year.
-
-
-
- Led by industrialization of the North
9.
-
- St intervention new deal, Keynes
10. ISI Import Substitution Industrialization
-
-
- Deteriorating terms of trade
11.
-
- Lack of strategic implementation
-
- Lack of progress into later stages
12. The Oil Crises
- 1973 Pdue to OPEC embargo
-
- Petrodollars banks NEED to lend
- 1979 Pas a result of the Iranian revolution
-
- Vs inflation, increase interest rates
-
- D for Latin American products
13. 1980s Thelostdecade
- Sudden stop to international lending
- 1982 Mexico cannot service its debt
- Decade lost in re-scheduling debt
-
- New loans to pay off interest on previous loans
-
- No new investment in development
-
- Cut back on social investment
-
- $500 for every man, woman and child in Latin America
14. Washington Consensus
- Structural adjustment WB led
- Quick solution -- Privatization
15.
-
- Liberalization leads to growth]
-
- Order of liberalization financial runs
-
- Limited internal industries
-
- Short-lived, limited industries
16.
- Regional trade agreements