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The Globalisation and its Implications for the Economic Development of Latin America

  • Matthias Blum

    (Ibero-America Institute for Economic Research of the University of Goettingen)

  • Jörg Stosberg

    (Ibero-America Institute for Economic Research of the University of Goettingen)

Registered author(s):

    The process of globalisation has in several ways an impact on the Latin American Economies. The recent developments give a carefully optimistic view on the economic consequences for these countries. While all of the Latin American nations still lag behind the industrialised countries with respect to their integration into global information networks, the digital divide seems to be narrowing in the near future. Concerning the trade and production structure most countries of the region are moving towards a higher degree of diversity while industrialisation and modernisation are progressing. While capital inflows into the region have spurred growth, the experience of the financial crisis in the emerging markets during the second half of the 90s showed the necessity of creating sound financial institutions. In addition other institutions e.g. in the field of education, administration and jurisdiction have to be built up for ensuring the possible benefits of a globalised world.

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    File URL: http://128.118.178.162/eps/it/papers/0309/0309023.pdf
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    Paper provided by EconWPA in its series International Trade with number 0309023.

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    Length: 18 pages
    Date of creation: 23 Sep 2003
    Date of revision:
    Handle: RePEc:wpa:wuwpit:0309023
    Note: Type of Document - Acrobat PDF; pages: 18 ; figures: included
    Contact details of provider: Web page: http://128.118.178.162

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    1. De Gregorio, Jose & Edwards, Sebastian & Valdes, Rodrigo O., 2000. "Controls on capital inflows: do they work?," Journal of Development Economics, Elsevier, vol. 63(1), pages 59-83, October.
    2. Graciela L. Kaminsky & Carmen M. Reinhart, 1996. "The twin crises: the causes of banking and balance-of-payments problems," International Finance Discussion Papers 544, Board of Governors of the Federal Reserve System (U.S.).
    3. Theodore H. Moran, 1998. "Foreign Direct Investment and Development: The New Policy Agenda for Developing Countries and Economies in Transition," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 53, May.
    4. Borensztein, E. & De Gregorio, J. & Lee, J-W., 1998. "How does foreign direct investment affect economic growth?1," Journal of International Economics, Elsevier, vol. 45(1), pages 115-135, June.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    6. Harrison, Ann, 1996. "Openness and growth: A time-series, cross-country analysis for developing countries," Journal of Development Economics, Elsevier, vol. 48(2), pages 419-447, March.
    7. Robert E. Lipsey & Robert C. Feenstra & Carl H. Hahn & George N. Hatsopoulos, 1999. "The Role of Foreign Direct Investment in International Capital Flows," NBER Chapters, in: International Capital Flows, pages 307-362 National Bureau of Economic Research, Inc.
    8. Felderer, Bernhard & Homburg, Stefan, 2005. "Makroökonomik und neue Makroökonomik," EconStor Books, ZBW - German National Library of Economics, number 92556.
    9. David, P.A., 1989. "Computer And Dynamo: The Modern Productivity Paradox In A Not-Too Distant Mirror," The Warwick Economics Research Paper Series (TWERPS) 339, University of Warwick, Department of Economics.
    10. Jeffrey A. Frankel, 2000. "Globalization of the Economy," NBER Working Papers 7858, National Bureau of Economic Research, Inc.
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