GINS 2010 Lecture Notes - Lecture 9: Root Mean Square, Neoliberalism, Industrial Policy
16 Dec 2016
School
Department
Course
Professor
Document Summary
Latin america, as a whole, middle income among developing countries. Four countries account for 3/4 of the region in area, population and economic size: Mexico closet to north america (na) and europe, south america as far away as east asia or russia from na. No strong linkage between colonial experience and current development: most intensively colonized were mexico, peru, bolivia, and cuba. Least intensively colonized were argentina, brazil and honduras. 1800s independence wars fought over free trade and less taxes, against slavery. During early independence: civil wars b/w liberals free traders and conservatives closed market traditionalists. Liberals won civil wars and free trade (but no democracy) became the model of development. Latin america traded in inter-industry, primary commodities for manufactures. Us, european investment built infrastructure for trade, not development. World wars and great depression broke that liberal model. Development strategy changed by default and design to import substitution industrialization. Default: no choice give global lack of demand.
