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The Influence of Multilateral Development Institutions on Latin American Development Strategies. Special Issue of International Development Policy on Latin America

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  • Guillermo Perry
  • Eduardo GarcÔøΩa

Abstract

This paper discusses the changing relation between Multilateral Development Institutions and Latin America, especially since the 1980s to the present. The paper first depicts how MDI’s influence on LA has varied over time and across countries, depending on access to international private capital markets, the development of long-term markets for domestic currency government bonds, and the significant reduction of macro-financial vulnerabilities in the region. It then illustrates how MDI’s views on macroeconomic and development policies has evolved over time, influenced by academic developments and also by Latin American governments. Finally, the paper shows how most governments in the region, whether left-wing or center-right oriented, have increasingly converged with MDI’s recommendations on macro-financial policies, while historically many, from all ends of the political spectrum, applied both macro and micro policies differing with MDI’s views.

Suggested Citation

  • Guillermo Perry & Eduardo GarcÔøΩa, 2016. "The Influence of Multilateral Development Institutions on Latin American Development Strategies. Special Issue of International Development Policy on Latin America," Documentos CEDE 14591, Universidad de los Andes, Facultad de Economía, CEDE.
    • Handle: RePEc:col:000089:014591
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    References listed on IDEAS

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    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

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