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List of figures | |
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List of tables | |
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List of boxes | |
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Preface | |
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Acknowledgements | |
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Latin America and the world economy | |
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Introduction | |
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Latin America and the world | |
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The economic output of Latin America | |
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GDP per capita in Latin America | |
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Latin America and international trade | |
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Capital flows and Latin America | |
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Latin America and world resources | |
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Latin America and the world: a summary | |
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Recurring themes in Latin American economic development | |
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Major economic policy debates in Latin America | |
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Key terms and concepts | |
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Questions for review and discussion | |
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References and recommended readings | |
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Economic growth and Latin America | |
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Introduction | |
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Institutional basics | |
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A basic model of economic growth | |
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The Latin American labor market | |
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Capital and Latin America | |
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New growth theory | |
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Growth accounting in Latin America | |
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Institutions and growth in Latin America | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Growth and the environment in Latin America | |
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Introduction | |
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Pollution as a negative externality | |
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Pollution and environmental policy | |
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Environmental issues in Latin America | |
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The environment and growth | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Latin American economic history | |
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Introduction | |
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The colonial period | |
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Independence and post-colonial turmoil | |
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The Golden Age: 1870-1914 | |
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Wars and depression | |
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Import substitution | |
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The Lost Decade of the 1980s | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Latin America and primary commodities | |
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Introduction | |
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Commodities in Latin America: a brief history | |
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The microeconomics of commodities | |
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The macroeconomics of commodities | |
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Commodities and economic development | |
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Commodities and Dutch disease | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Import substitution in Latin America | |
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Introduction | |
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Structuralism, dependency theory, and ISI | |
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How ISI worked | |
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The results of ISI | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Latin American trade policy | |
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Introduction | |
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Comparative advantage | |
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Comparative advantage and ISI | |
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Comparative advantage, factor prices, and the distribution of income | |
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The economic effects of tariffs and quotas | |
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Latin American trade policy | |
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Latin America and GATT/WTO | |
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RTAs in Latin America | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Exchange rate policy | |
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Introduction | |
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The balance of payments | |
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Flexible exchange rates | |
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Fixed exchange rates | |
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The real exchange rate | |
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Managed exchange rates | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Financing current account deficits | |
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Introduction | |
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Debt vs. equity | |
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FDI | |
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Portfolio capital | |
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Official development assistance | |
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Remittances | |
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Debt | |
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The role of the IMF | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Macroeconomic policy in Latin America | |
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Introduction | |
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Fiscal policy in Latin America | |
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Financing deficits and the money supply | |
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The money supply, prices, and GDP | |
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Economic populism | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Macroeconomic stability | |
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Introduction | |
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Commodity price shocks | |
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Oil shocks | |
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Debt and exchange rate shocks | |
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The Lost Decade | |
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The recovery from the Lost Decade | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Poverty and inequality | |
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Introduction | |
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Poverty in Latin America | |
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Income inequality | |
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Causes of poverty and inequality | |
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ISI | |
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Reducing poverty and inequality | |
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Key concepts and terms | |
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Questions for review and discussion | |
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References and recommended readings | |
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Glossary | |
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Notes | |
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Index | |