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The Decline of Latin American Economies
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The Decline of Latin American Economies: Growth, Institutions, and Crises

Sebastian Edwards, Gerardo Esquivel, and Graciela Marquez

Abstract

Latin America's economic performance is mediocre at best, despite abundant natural resources and flourishing neighbors to the north. The perplexing question of how some of the wealthiest nations in the world in the nineteenth century are now the most crisis prone has long puzzled economists and historians. This book examines the reality behind the struggling economies of Argentina, Chile, and Mexico. A panel of experts argues here that slow growth, rampant protectionism, and rising inflation plagued Latin America for years, where corrupt institutions and political unrest undermined the financi ... More

Keywords: Latin America, economic development, natural resources, Argentina, Chile, Mexico, political systems, protectionism, inflation, political unrest

Bibliographic Information

Print publication date: 2007 Print ISBN-13: 9780226185002
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226185033.001.0001

Authors

Affiliations are at time of print publication.

Sebastian Edwards, editor

Gerardo Esquivel, editor

Graciela Marquez, editor

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Contents

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Introduction

Sebastian Edwards, Gerardo Esquivel, and Graciela Márquez

I Economic Growth, Taxation, and Institutions

1 When Did Latin America Fall Behind?

Leandro Prados de la Escosura

3 Inequality and the Evolution of Institutions of Taxation

Kenneth L. Sokoloff and Eric M. Zolt

II Financial Crises, Lending, and Inflation

4 Financial Crises, 1880–1913

Michael D. Bordo and Christopher M. Meissner

5 The True Measure of Country Risk

Gerardo della Paolera and Martín Grandes

8 Establishing Credibility

Sebastian Edwards

III Protectionism and Economic Performance

9 Some Economic Effects of Closing the Economy

Gerardo Esquivel and Graciela Márquez

10 The Political Economy of Protectionism

Aurora Gómez-Galvarriato