Varieties of Power in Latin American Pension Finance: Pension Fund Capitalism, Developmentalism and Statism

2014 ◽  
Vol 49 (3) ◽  
pp. 483-510 ◽  
Author(s):  
Giselle Datz

When it comes to analyses of financial power in Latin America, there has been a tendency to assume it is mostly external, relatively homogeneous, and usually constraining of domestic policy autonomy. Increasingly, however, when speaking of financial power in the region, a focus exclusively on foreign capital misses a significant part of the empirical landscape, one inhabited by large domestic institutional investors: public and private pension funds. A focus on these funds reveals that a neat state–finance dichotomy is often unrepresentative of the type of blurred web of interests, influence and ownership that characterizes even those economies that have embraced a significant degree of liberalization. In fact, pension finance is far from uniform across countries. In order to capture this diversity in Latin America, a new typology is suggested that departs from the Anglo-American notion of ‘pension fund capitalism’ and further specifies pension finance as also revealing dynamics best described as ‘pension fund developmentalism and statism’. The typology is not only aimed at capturing more empirical nuance in Latin America; it can also serve as reference for cross-regional analyses of these often neglected, but increasingly powerful financial actors in emerging economies.

2021 ◽  
Vol 12 (1) ◽  
pp. 117-136
Author(s):  
Bernadette Califano ◽  
Martín Becerra

This article analyses the digital policies introduced in different Latin American countries during the first three months after the outbreak of COVID-19 reached the region (March–June 2020). This analysis has a three-fold objective: (a) to give an overview of the status of connectivity in five big Latin American countries – Argentina, Brazil, Chile, Colombia and Mexico; (b) to study comparatively the actions and regulations implemented on connectivity matters by the governments of each country to face the pandemic; and (c) to provide insights in relation with telecommunications policies in the context of pandemic emergence at a regional level. To that end, this study will consider legal regulations and specific public policies in this field, official documents from the public and private sectors, and statistics on ICT access and usage in the region.


2017 ◽  
Vol 18 (4) ◽  
pp. 993-1009 ◽  
Author(s):  
Rohit Subhash Prabhudesai ◽  
Ch V V S N V Prasad ◽  
Boon Chuan Ang

This article seeks to determine the means by which European companies can make use of Latin European countries as a springboard to emerging markets in Latin America. For the sake of this study, Germany and Spain were used as the European and springboard countries, respectively. Cultural issues experienced by German companies in Asia have made it imperative for them to explore alternative emerging economies, such as Latin American countries. However, Latin America represents an equally risky opportunity through direct market entry owing to the cultural gap across the two regions. Given the interactions between members of the European Union and the cultural similarities between Spain and Latin America, the hypothesis of former being a cultural bridge was tested. The qualitative and quantitative cultural parameters across Germany, Spain and Latin America were compared and results showed that Spanish cultural experience can bridge the German–Latin American cultural gap.


2015 ◽  
Vol 37 (3) ◽  
pp. 379-402
Author(s):  
Bernadett Lehoczki

Inter-regionalism refers to regular forms of cooperation between regions or actors from different regions and is a result of the parallel phenomena of globalization and regionalism. Inter-regional links are rapidly developing all around the world and form a new level of global governance. Though originally inter-regionalism typically connected the actors of the so-called Triad, today emerging economies and developing regions are more active and visible participants of inter-regional cooperation. The article examines the perspectives and limitations of inter-regional relations between China and Latin America as a new dimension of deepening Sino—Latin American relations.


2003 ◽  
Vol 7 (2-3) ◽  
pp. 113-125 ◽  
Author(s):  
Glauco Arbix ◽  
Mariano Laplane

Trade and investment policies reform that deepened integration in the world markets implemented by most Latin American countries in the last two decades have failed to deliver high and sustained growth rates as expected. Multilateral institutions, which strongly supported such reforms, now suggest that further market friendly changes are needed to produce the expected results. Drawing on evidence from Brazil, this paper argues that the neoliberal model that impregnated policy reforms in Latin America neglected a crucial political dimension, that is, the role of State in the planning and fostering of development. By weakening national states, liberalization, not only increased vulnerability to external shocks but also stimulated conflict in societies with profound social divisions and fragile institutions. Development requires a dense network of both public and private institutions managing issues related to the asymmetries in access to markets, to capital and to technology. Building such institutions is the critical part of a new agenda for development.


Author(s):  
David William Foster ◽  
Rosita Scerbo

“Magical realism” (or “magic realism”) has given extensive service to the attempt to provide an overarching characterization of Latin American writing, or to identify a mode of Latin American writing that draws a line between what is touted as paradigmatically Latin American and poor imitations of privileged models. This implies how Latin American writing might influence international writing in ways previously thought to be impossible for a literary tradition considered unquestionably and even irremediably secondary. The result has been, perhaps, the sometimes contradictory application of the term and its alacritous utilization to justify lionizing certain Latin American authors (Jorge Luis Borges or Gabriel García Márquez) and to provide a note of exoticization to First World writing. As a qualifier, “magical realism” has been used to explain any plot configuration of human behavior that seems an exception or contradiction or refutation of West European bourgeois rationalism as the dominant mode for explaining how the world and social relations function. The specific use of the word magical implies that such ruptures in the codes of the supposed usual represent a powerful access to phenomena that have hitherto either been ignored or repressed because they do not fit within prevailing explanatory models of the universe. Key here is Borges’s repeated aggressive assertion that metaphysics is a branch of fantastic literature, thereby relativizing its scientific rigor and liberating vast realms of counterproposals. Central to the debate over magical realism (called other things by other writers, such as Alejo Carpentier’s “marvelous real”) is the extent to which it is one vehicle for representing the conflicted relationship between Latin America and hegemonic Western values (e.g., only through acts of real and symbolic violence is Latin America seen as sociohistorically Western). Or, alternatively, magical realism is seen as a way of inflecting the material and imaginary ways in which Latin America—and, individually, the various Latin American republics— makes a sociohistoric difference. This sort of position is often seen as “exoticising” Latin America for international consumption. Concomitantly, magical realism may be the basis for a particular poetic use of the Spanish language for demonstrating with vivid complexity how Spanish in the Americas cannot be controlled by the paradigms of the Spanish Royal Academy that reduce it to merely questions of dialect variation. The substratum of indigenous languages vies with the superstratum of immigrant languages to provide unique linguistic configurations consonant with unique sociohistoric ones. Finally, the use of “magical realism” to describe a certain manner of non–Latin American writing raises the question of whether such matters are transferable between cultures on deep structural levels, or whether they constitute questionable expropriations. Yet there is no question that the term has been routinely incorporated into Anglo-American literary studies, as witnessed by Maggie Ann Bowles’s Magic Realism (Routledge, 2004) or by the entry on the subject in the Chris Baldick’s Oxford Dictionary of Literary Terms (4th ed., Oxford University Press, 2015).


Author(s):  
Roberto Blancarte

Latin American sociology of religion is a relatively young discipline, although institutionally speaking, it has not lagged as far behind European sociology as we usually think. There is, in fact, an early link between Continental Europe and Latin America in the development of institutions dedicated to the study of religions. They have witnessed an incredible expansion, particularly over the past three decades. The author offers a general panorama of the trajectory of the subdiscipline and the development of a robust academic field. The reasons for this intellectual explosion go from the development of a scientific institutional framework for social sciences in emerging economies to the changing structure of religions and the social awareness of a historical plurality of beliefs in Latin America.


1991 ◽  
Vol 1 ◽  
pp. 71-88 ◽  
Author(s):  
Leslie Bethell

It is in my case a particular honour to address the Royal Historical Society. As president of the Society for four years in the 1960s, Professor R. A. Humphreys, the first holder of the Chair of Latin American History in the University of London which I have been privileged to hold since 1986 (and, incidentally, my teacher both as an undergraduate and as a postgraduate student), gave a series of distinguished presidential addresses on aspects of British and United States policy towards Latin America, and Anglo-American rivalries in Latin America, during the nineteenth century. But it seems that I am the first historian of Latin America to present a paper to the Society on a specifically Latin American theme.


1992 ◽  
Vol 24 (2) ◽  
pp. 309-341 ◽  
Author(s):  
Carlos M. Vilas

As I get older I give more importance to continuities, and try to discover them under the appearances of change and mutation. And I have reached the conclusion that there is only one great continuity: that of blood.Class structure never entirely displaces other criteria and forms of differentiation and hierarchy (e.g. ethnicity, gender, lineage) in the constitution of social identities and in prompting collective action. Class as a concept and as a point of reference is linked to these other criteria; often it is subsumed in them, thus contributing to the definition of the different groups' forms of expression and of their insertion into the social totality. But class does not eliminate these other criteria nor the identities deriving from them, nor can it preclude the relative autonomy derived from their specificity, as they define loyalties and oppositions which frequently cross over class boundaries. The relevance of these criteria in Latin America is even greater since the society's class profile is less sharply defined because of the lower level of development of market relations and urban industrial capitalism.Several studies have pointed to the importance of ruling families in shaping the socio-economic structure of Latin American countries, their political institutions and their cultural life. Prominent families have been considered the axis of Latin America's history from the last part of the colonial period until the beginnings of the present century – and until even more recently in some countries. Interestingly enough, these historical studies have contributed to a better understanding of one of the features most frequently discussed in today's sociological studies of Latin America: the weak or inchoate differentiation between public and private life and between collective and individual action.


2020 ◽  
Vol 21 (2) ◽  
pp. 453-493
Author(s):  
EMILY BUCHNEA

In the first half of the nineteenth century, transatlantic trade and finance networks were complex webs of transactions often consisting of lengthy chains of connections linking distant firms to distant markets. As a number of scholars have shown, merchant bankers of the nineteenth century were at the center of many of these networks, acting as an interconnected and often impenetrable group that dictated the flow of capital and investment across many borders. Most recently, scholars such as Manuel Llorca-Jaña, Manuel López-Morell, and Juliette Levy (to name a few) have produced a number of especially significant publications on the role of financial intermediaries in Latin America. Llorca-Jaña’s and López-Morrell’s work has been essential for illuminating the role of London bankers Huth & Co. and Rothschilds (respectively) in creating a global network that included Latin American markets and trades, while Levy’s work has highlighted the role of special financial players in inland markets, namely in the Yucatan. This paper aims to build on this previous work through an analysis of crucial network actors in Anglo-American merchant bank networks in the first half of the nineteenth century. To conduct a varied and general analysis, this paper will draw on the correspondence records of the Baring Bros. and N. M. Rothschild, two of the most well-known and profitable London merchant banks of the period. Through this material, this study will present an analysis of British merchant bank connectivity and the role of intermediaries in connecting merchant banks to distant markets and clients, such as the mining districts of interior Mexico and the sugar merchants of Cuba.


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