Chapter

Latin America in the World Economy, 1810–2010

Luis Bértola and José Antonio Ocampo

in The Economic Development of Latin America since Independence

Published in print October 2012 | ISBN: 9780199662135
Published online January 2013 | e-ISBN: 9780191748950 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199662135.003.0001

Series: Initiative for Policy Dialogue

Latin America in the World Economy, 1810–2010

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Chapter 1 presents an overview of Latin American development since Independence in a comparative perspective. Based on a new dataset of per capita GDP and a typology of Latin American countries, different stages of development and episodes of divergence and convergence with world leaders are identified. High volatility, linked to the pattern of production specialization and to pro-cyclical movements in capital flows, is identified as an important feature of Latin American development. Different stages of development are identified based on the forms of integration into the world economy. The environmental features of development are considered. Lags and achievements in schooling and life expectancy are discussed, as part of a broader analysis of a new historical human development index. The chapter ends with a discussion of the role played by inequality in Latin American development.

Keywords: comparative development; convergence/divergence; economic volatility; human development; inequality; capital flows; balance of payments constraints; environment

Chapter.  21387 words.  Illustrated.

Subjects: Economic History

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