The early twentieth century role of U.S. “money doctors” in establishing Latin American exchange rate regimes and monetary institutions is relatively well known. For example, the work of Edwin Kemmerer in the Andes has been extensively documented. Not so well-known is the work of Latin American economists on these same issues. This paper examines a number of cases where the Latin American analysts were active players and participants in analyzing the exchange rate and monetary issues and in formulating domestic policy to address them. The role of Latin American economists in a variety of international monetary conferences and commissions from 1903-1922 is investigated. In addition, the paper describes how Alberto Pani guided the formulation of Mexican economic policy after the Mexican Revolution and his ability to chart an independent course for Mexico. The conclusion is that there is evidence of “intense discussions of economic issues” based on Latin Americans’ economic analysis. The role of foreign advisors was often to break the political impasse and to recommend the policy the inviting government wanted to implement.
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Length: 19 pages Date of creation: Jun 2005 Date of revision: Publication status: Published in E. Perez and M.Vernengo (eds.), Ideas, Policies and Economic Development in the Americas, New York: Routledge, 2007 Handle: RePEc:uta:papers:2005_06
Find related papers by JEL classification: B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System F3 - International Economics - - International Finance
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