Dependency and Cliency in Latin America

1986 ◽  
Vol 28 (3) ◽  
pp. 47-66 ◽  
Author(s):  
Mark J. Gasiorowski
Keyword(s):  
Latin American ◽  
World Economy ◽  
Empirical Studies ◽  
Class Struggle ◽  
Large Mass ◽  
Analytical Framework ◽  
Small Class ◽  
Latin American Politics ◽  
Dependency Theory ◽  
The World

Dependency Theory has become a major paradigm for understanding Latin American politics. Based on the premises that the study of politics must begin with analysis of underlying socio-economic structures, and that these structures cannot be understood without considering a country's role in the world economy, dependency theory provides a cogent analytical framework that has been upheld in numerous empirical studies. The model of politics presented by dependency theorists is a bleak one: because economic dependence polarizes society between a small class of wealthy elites and a large mass of impoverished workers and peasants, politics in dependent societies is reduced, essentially, to class struggle between these highly mismatched forces. Except under unusual circumstances, authoritarianism is the inevitable result.

The World Economy

2003 ◽  
Vol 185 ◽  
pp. 9-16
Keyword(s):  
Latin American ◽  
Euro Area ◽  
World Trade ◽  
World Economy ◽  
Oil Industry ◽  
Private Sector Investment ◽  
Percentage Points ◽  
The Us ◽  
The World ◽  
Dollar Depreciation

The outlook for world growth this year has deteriorated since April, due to a sharp contraction in world trade in the first quarter of the year and failure to sustain the revival in private sector investment seen in the fourth quarter of 2002. We have as a consequence revised our projections for world growth this year down by ¼ percentage point. This reflects sharp downward revisions of ½–¾ percentage points in the Euro Area and Canada, both of whose exchange rates have continued to appreciate in effective terms, while the outlook for the US and Japan is broadly unchanged. Growth in Japan and the Euro Area stagnated in the first half of 2003, with recessions in Germany, Italy, the Netherlands and Austria appearing likely. The US and Canada, on the other hand, continued to expand, albeit more slowly than in the second half of 2002. Following two years of exceptional weakness, Latin American growth has started to revive, although Venezuela is still suffering from the 2 month stoppage in the oil industry earlier this year and Argentina has lost competitiveness due to a strong appreciation against the dollar. Growth has slowed in several Asian economies, notably South Korea, but China continues to expand rapidly, spurred by the competitiveness impact of the dollar depreciation and infrastructure preparations for the 2008 Olympics. This has helped sustain export growth from the rest of Asia despite the more widespread slowdown in world trade.

Latin America and the World Economy: Some Observations on External Indebtedness and the International Monetary System

1978 ◽  
Vol 20 (3) ◽  
pp. 321-339
Author(s):  
Aldo Ferrer
Keyword(s):  
Latin America ◽  
Latin American ◽  
World Economy ◽  
International Monetary System ◽  
Import Substitution ◽  
External Debt ◽  
Economic Recession ◽  
Balance Of Payments ◽  
Adjustment Process ◽  
The World

Since 1973 most of the Latin American countries have experienced deterioration in their balance of payments due to the economic recession in the industrial countries and the oil price increases. The consequent adjustment process has called for stricter regulation of domestic demand and new advances in import substitution. Adjustment was less painful due to access to private financing in the international capital markets which, however, produced a sharp increase in the external debt.This article does not propose to review the recent patterns of external payments, already extensively analyzed in the periodic reports of the UN Economic Commission for Latin America, the International Monetary Fund, and in other studies. Rather, it will attempt to emphasize some long-term changes in the world economy and in Latin America that influence the international participation of the region. It is in this context that the adjustment process of the balance of payments and the external debt should be evaluated.

FREE TRADE AND GROWTH IN THE WORLD ECONOMY

2011 ◽  
Vol 56 (03) ◽  
pp. 291-306 ◽  
Author(s):  
PETER LLOYD
Keyword(s):  
Free Trade ◽  
World Economy ◽  
Empirical Studies ◽  
Growth Effect ◽  
Limited Effect ◽  
Beneficial Effects ◽  
The World ◽  
The Relationship ◽  
Level Effect ◽  
Trade And Growth

This paper explores the relationship between free trade and the rate of economic growth. It is argued that freeing trade has both a level effect and a growth effect. Most empirical studies ignore the growth effect and, therefore, considerably understate the beneficial effects of freeing trade. Progress towards free trade in the GATT/WTO era is far from complete. Regionalism has had a limited effect on freeing trade globally. The completion of the Doha Development Round is needed to restart trade as the engine of growth.

scholarly journals Les mutations de notre économie-monde : Des révolutions sans miracles

2005 ◽  
Vol 14 (3) ◽  
pp. 413-431 ◽  
Author(s):  
Gilles Paquet
Keyword(s):  
Economic Activity ◽  
World Economy ◽  
Historical Perspective ◽  
Analytical Framework ◽  
Economic Transformation ◽  
Equilibrium Situation ◽  
The World

This paper attempts to put the present mutation of the world economy in historical perspective. It uses a meso-analytical framework to examine the economic transformation we are experiencing. The main force at work, it is claimed, is a progressive dematerialization of economic activity which has triggered a reorganization of the world economy as instituted process. The extent to which a new international industrial order is in the making is examined together with the forces at work to transform the present conflictive equilibrium situation into a situation of creative disequilibrium.

scholarly journals The postsocialist transformation in Central and Eastern Europe

2002 ◽  
Vol 22 (4) ◽  
pp. 579-593
Author(s):  
BÉLA GRESKOVITS
Keyword(s):  
Eastern Europe ◽  
Latin American ◽  
World Economy ◽  
Central And Eastern Europe ◽  
State Capacity ◽  
The West ◽  
Catching Up ◽  
The World ◽  
Recent Position ◽  
Latin American Economic

ABSTRACT What is attempted in the East is catching up with the West from a recent position of worse-than-Latin-American economic backwardness. Until now, populations that were sentenced to political patience by the logic of poor democracies have reluctantly backed this enormous effort. Central and Eastern Europe’s post-socialist path is characterized by an increasingly discredited ideology of a return to Europe and a non- European combination of substitute institutions of development: radical opening towards the world economy, damaged institutions of labor representation, eroded state capacity, and often strong private and foreign dominance in the financial and other strategic sectors. There is a chance for a few countries to succeed. Yet various development traps may be more likely in the end than a “Great Spurt” in the Gerschenkronian sense.

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