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Noyola's Institutional Approach to Inflation

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  • Danby, Colin

Abstract

Juan Noyola is widely credited as an originator of the Latin American “structuralist†theory of inflation. His key contribution is a 1956 article comparing inflation in Mexico and Chile. However there is disagreement about the nature of this contribution, or even what “structuralist†means in this context. I argue that Noyola's innovation was grounding money and credit in a highly institutional political economy of class conflict. This grounding endogenized not only money, but also policymaking and the State.

Suggested Citation

  • Danby, Colin, 2005. "Noyola's Institutional Approach to Inflation," Journal of the History of Economic Thought, Cambridge University Press, vol. 27(2), pages 161-178, June.
  • Handle: RePEc:cup:jhisec:v:27:y:2005:i:02:p:161-178_00
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    Cited by:

    1. Carlos Eduardo Suprinyak & André Roncaglia de Carvalho, 2022. "Bringing Latin America into the Mainstream: The 1963 Rio de Janeiro Conference on Inflation and Growth," Working Papers hal-03865703, HAL.
    2. André Roncaglia de Carvalho & Carlos Eduardo Suprinyak, 2022. "An emigrant economist in the tropics: Nicholas Georgescu-Roegen on Brazilian inflation and development," Cambridge Journal of Economics, Oxford University Press, vol. 46(3), pages 561-579.
    3. Mauro Boianovsky, 2011. "Furtado and the structuralist-monetarist debate on economic stabilization in Latin America," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 004, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

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