IDEAS home Printed from https://ideas.repec.org/p/nbr/nberwo/15171.html
   My bibliography  Save this paper

Latin America's Decline: A Long Historical View

Author

Listed:
  • Sebastian Edwards

Abstract

In this paper I analyze Latin America's very long term economic performance (since the early 18th century), and I compare it with that of the United States, Australia, New Zealand and the countries of Western Europe. I begin with an analysis of long term data and an attempt at determining when the region's decline really began. The next section deals with the relation between the strength of institutions since colonial rule and the region's economic performance. Next I move to an analysis of Latin America's long history with instability, crises and debt defaults. I show that currency collapses have been a staple of the region's economic history. In the Section that follows I analyze the long term evolution of social conditions, including poverty and income inequality. This analysis shows that a high degree of income disparity and poverty have a long history in the region. The paper ends with an analysis of the way in which Latin American intellectuals and scholars have seen the increasing economic and income gap with the United States and Canada.

Suggested Citation

  • Sebastian Edwards, 2009. "Latin America's Decline: A Long Historical View," NBER Working Papers 15171, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:15171 Note: IFM ITI
    as

    Download full text from publisher

    File URL: http://www.nber.org/papers/w15171.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Rudiger Dornbusch & Juan Carlos de Pablo, 1989. "Debt and Macroeconomic Instability in Argentina," NBER Chapters,in: Developing Country Debt and the World Economy, pages 37-56 National Bureau of Economic Research, Inc.
    2. Sebastian Edwards & Gerardo Esquivel & Graciela Márquez, 2007. "The Decline of Latin American Economies: Growth, Institutions, and Crises," NBER Books, National Bureau of Economic Research, Inc, number edwa04-1, January.
    3. Sebastian Edwards & Gerardo Esquivel & Graciela Márquez, 2007. "Introduction to "The Decline of Latin American Economies: Growth, Institutions, and Crises"," NBER Chapters,in: The Decline of Latin American Economies: Growth, Institutions, and Crises, pages 1-14 National Bureau of Economic Research, Inc.
    4. Gerardo della Paolera & Alan M. Taylor, 2001. "Introduction to "Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935"," NBER Chapters,in: Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935, pages 3-36 National Bureau of Economic Research, Inc.
    5. Gerardo della Paolera & Alan M. Taylor, 2001. "Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935," NBER Books, National Bureau of Economic Research, Inc, number paol01-1, January.
    6. Pablo Astorga & Ame R. Berges & Valpy Fitzgerald, 2005. "The standard of living in Latin America during the twentieth century -super-1," Economic History Review, Economic History Society, vol. 58(4), pages 765-796, November.
    7. Noel Maurer & Stephen Haber, 2007. "Related Lending: Manifest Looting or Good Governance? Lessons from the Economic History of Mexico," NBER Chapters,in: The Decline of Latin American Economies: Growth, Institutions, and Crises, pages 213-242 National Bureau of Economic Research, Inc.
    8. Edwards, Sebastian & Esquivel, Gerardo & Márquez, Graciela (ed.), 2007. "The Decline of Latin American Economies," National Bureau of Economic Research Books, University of Chicago Press, edition 0, number 9780226185002.
    9. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Guillermo Cruces & Marcelo Bérgolo & Andriana Conconi & Andrés Ham, 2012. "Are there Etchnic Inequality Traps in Education ? Empirical Evidence for Brazil and Chile," Working Papers PMMA 2012-05, PEP-PMMA.
    2. Sara Guerschanik Calvo, 2010. "The Global Financial Crisis of 2008-10: A View from the Social Sectors," Human Development Research Papers (2009 to present) HDRP-2010-18, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
    3. Nancy Birdsall & Nora Lustig & Darryl McLeod, 2011. "Declining Inequality in Latin America: Some Economics, Some Politics," Working Papers 1120, Tulane University, Department of Economics.
    4. Gordon H. Hanson, 2010. "Why Isn't Mexico Rich?," Journal of Economic Literature, American Economic Association, pages 987-1004.
    5. Sawyer W. Charles, 2011. "Institutional Quality and Economic Growth in Latin America," Global Economy Journal, De Gruyter, vol. 10(4), pages 1-13, January.
    6. Gordon H. Hanson, 2010. "Why Isn't Mexico Rich?," Journal of Economic Literature, American Economic Association, pages 987-1004.

    More about this item

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:15171. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/nberrus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.