By Way of Conclusion

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:

Series: Initiative for Policy Dialogue

By Way of Conclusion

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The concluding chapter underscores four central themes of Latin America's economic history. The first is its early success in economic development but also its incapacity to steadily reduce the gaps that separate the region from the industrial world. The second is the economic instability associated with the region's patterns of international specialization, which evolve around natural resources, and unstable access to international financing. The third theme has been the slow pace at which the region has developed modern political and economic institutions and the high degree of variability in development paradigms that has gone along with this. The fourth is the high degree of inequality, which is presented as the greatest historical debt of Latin America.

Keywords: economic development; economic volatility; natural resources; institutional development; inequality

Chapter.  5130 words. 

Subjects: Economic History

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