The Economics of Contemporary Latin America

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Analysis of Latin America's economy focusing on development, covering the colonial roots of inequality, boom and bust cycles, labor markets, and fiscal and monetary policy.

Latin America is richly endowed with natural resources, fertile land, and vibrant cultures. Yet the region remains much poorer than its neighbors to the north. Most Latin American countries have not achieved standards of living and stable institutions comparable to those found in developed countries, have experienced repeated boom-bust cycles, and remain heavily reliant on primary commodities.

This book studies the historical roots of Latin America's contemporary economic and social development, focusing on poverty and income inequality dating back to colonial times. It addresses today's legacies of the market-friendly reforms that took hold in the 1980s and 1990s by examining successful stabilizations and homemade monetary and fiscal institutional reforms. It offers a detailed analysis of trade and financial liberalization, twenty–first century-growth, and the decline in poverty and income inequality. Finally, the book offers an overall analysis of inclusive growth policies for development—including gender issues and the informal sector—and the challenges that lie ahead for the region, with special attention to pressing demands by the vibrant and vocal middle class, youth unemployment, and indigenous populations.

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About the author

Beatriz Armendáriz is Senior Lecturer in the Department of Economics at University College London and Research Affiliate at Harvard University. She is coauthor of The Economics of Microfinance (MIT Press).

Felipe Larraín B. is Professor of Economics at the Catholic University of Chile and Director of the Latin American Center of Economics and Social Policies (CLAPES UC). He is coauthor of Macroeconomics in the Global Economy and was Finance Minister of Chile from 2010 to 2014.

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Additional Information

Publisher
MIT Press
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Published on
May 5, 2017
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Pages
464
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ISBN
9780262337878
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Best For
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Language
English
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Genres
Business & Economics / Economic History
History / Americas (North, Central, South, West Indies)
History / Latin America / General
Political Science / Political Economy
Political Science / Public Policy / Economic Policy
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Content Protection
This content is DRM protected.
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An accessible analysis of the global expansion of financial markets in poor communities, incorporating the latest thinking and evidence.

The microfinance revolution has allowed more than 150 million poor people around the world to receive small loans without collateral, build up assets, and buy insurance. The idea that providing access to reliable and affordable financial services can have powerful economic and social effects has captured the imagination of policymakers, activists, bankers, and researchers around the world; the 2006 Nobel Peace Prize went to microfinance pioneer Muhammed Yunis and Grameen Bank of Bangladesh. This book offers an accessible and engaging analysis of the global expansion of financial markets in poor communities. It introduces readers to the key ideas driving microfinance, integrating theory with empirical data and addressing a range of issues, including savings and insurance, the role of women, impact measurement, and management incentives. This second edition has been updated throughout to reflect the latest data. A new chapter on commercialization describes the rapid growth in investment in microfinance institutions and the tensions inherent in the efforts to meet both social and financial objectives. The chapters on credit contracts, savings and insurance, and gender have been expanded substantially; a new section in the chapter on impact measurement describes the growing importance of randomized controlled trials; and the chapter on managing microfinance offers a new perspective on governance issues in transforming institutions. Appendixes and problem sets cover technical material.

People around the world know Dave Batista as World Wrestling Entertainment's "the Animal," the rope-shaking, spine-busting World Heavyweight Champion, one of the most popular Superstars in recent years.The crowd turned Batista from heel to babyface after they were electrified by his awesome physique and physical wrestling style.

Few fans, however, know that Batista didn't join the profession until he was thirty years old -- an age at which many wrestlers are thinking about hanging up their boots. Nor do most fans know the tremendous toll the climb to the top has taken on Batista's personal life. While successfully staying away from hard drugs and -- usually -- liquor, he found sex too tempting to resist.

"Women were my drug of choice," the Animal confesses. That addiction cost him his marriage, destroying a relationship that had helped him climb from poverty to the pinnacle of sports entertainment in less than two years.

Now, in Batista Unleashed, the WWE Superstar comes clean about the choices he made and the devastating effects they had on his family. He talks about the injury that stripped him of his title -- an injury he blames on Mark Henry's carelessness. While being sidelined cost Batista untold hundreds of thousands of dollars in lost income, it also set the stage for a tremendous comeback that cemented the Animal's reputation as a true champion.

Batista talks about growing up in the worst part of Washington, D.C., where three murders occurred in his front yard before he was nine. He speaks lovingly about his mother -- a lesbian -- and how hard she worked to keep the family not just together but alive. He talks candidly about his own criminal past: a conviction on a drug charge and another, since overturned, on assault. He speaks of his days as a bouncer and a lifeguard, and tells how bodybuilding may have saved his life.

Once he made it to the WWE, Batista realized he wasn't really ready for the big time. His career seemed headed for a fall until Fit Finlay took him under his wing. But his real education came when he joined Evolution and rode with Triple H and Ric Flair, two of sports entertainment's all-time greats. Batista talks about what they taught him, and details some of their wild times on the road.

But the champ also reveals a kinder, gentler side. While his soft-spoken manner in the locker room has sometimes been misinterpreted as arrogance, in truth Batista's always been somewhat shy and quiet. Emotional by nature, he reveals for the first time that the tears fans saw at WrestleMania 21, when he won the World Heavyweight Championship for the first time, were very real. And he speaks movingly about his problems with his ex-wives and teenage daughters, and how it felt to become a grandfather.

While his straight-shooting mouth has occasionally gotten him into trouble -- most notably in a backstage confrontation with Undertaker after some remarks about SmackDown! -- Batista is his own harshest critic. He explains his early limitations as a wrestler and the work he has done to overcome them. Interspersing his memoir with accounts from life on the road, Batista lightens the narrative with a surprising sense of humor. An Animal in the ring, he reveals himself as an honest and even humble man in everyday life.
"Without this testimony, we simply cannot grasp what is going on . . . Americans would do well to read [Gangster Warlords]." --The New York Times Book Review, Editor's Choice

From the author of El Narco, the shocking story of the men at the heads of cartels throughout Latin America: what drives them, what sustains their power, and how they might be brought down.

In a ranch south of Texas, the man known as The Executioner dumps five hundred body parts in metal barrels. In Brazil's biggest city, a mysterious prisoner orders hit-men to gun down forty-one police officers and prison guards in two days. In southern Mexico, a meth maker is venerated as a saint while enforcing Old Testament justice on his enemies.

A new kind of criminal kingpin has arisen: part CEO, part terrorist, and part rock star, unleashing guerrilla attacks, strong-arming governments, and taking over much of the world's trade in narcotics, guns, and humans. What they do affects you now--from the gas in your car, to the gold in your jewelry, to the tens of thousands of Latin Americans calling for refugee status in the U.S. Gangster Warlords is the first definitive account of the crime wars now wracking Central and South America and the Caribbean, regions largely abandoned by the U.S. after the Cold War. Author of the critically acclaimed El Narco, Ioan Grillo has covered Latin America since 2001 and gained access to every level of the cartel chain of command in what he calls the new battlefields of the Americas. Moving between militia-controlled ghettos and the halls of top policy-makers, Grillo provides a disturbing new understanding of a war that has spiraled out of control--one that people across the political spectrum need to confront now.
Selected as a 2012 Outstanding Title by AAUP University Press Books for Public and Secondary School Libraries

12.5 million Africans were shipped to the New World during the Middle Passage. While just over 11.0 million survived the arduous journey, only about 450,000 of them arrived in the United States. The rest--over ten and a half million--were taken to the Caribbean and Latin America. This astonishing fact changes our entire picture of the history of slavery in the Western hemisphere, and of its lasting cultural impact. These millions of Africans created new and vibrant cultures, magnificently compelling syntheses of various African, English, French, Portuguese, and Spanish influences.

Despite their great numbers, the cultural and social worlds that they created remain largely unknown to most Americans, except for certain popular, cross-over musical forms. So Henry Louis Gates, Jr. set out on a quest to discover how Latin Americans of African descent live now, and how the countries of their acknowledge--or deny--their African past; how the fact of race and African ancestry play themselves out in the multicultural worlds of the Caribbean and Latin America. Starting with the slave experience and extending to the present, Gates unveils the history of the African presence in six Latin American countries--Brazil, Cuba, the Dominican Republic, Haiti, Mexico, and Peru--through art, music, cuisine, dance, politics, and religion, but also the very palpable presence of anti-black racism that has sometimes sought to keep the black cultural presence from view.

In Brazil, he delves behind the façade of Carnaval to discover how this 'rainbow nation' is waking up to its legacy as the world's largest slave economy.

In Cuba, he finds out how the culture, religion, politics and music of this island is inextricably linked to the huge amount of slave labor imported to produce its enormously profitable 19th century sugar industry, and how race and racism have fared since Fidel Castro's Communist revolution in 1959.

In Haiti, he tells the story of the birth of the first-ever black republic, and finds out how the slaves's hard fought liberation over Napoleon Bonaparte's French Empire became a double-edged sword.

In Mexico and Peru, he explores the almost unknown history of the significant numbers of black people--far greater than the number brought to the United States--brought to these countries as early as the sixteenth and seventeenth centuries, and the worlds of culture that their descendants have created in Vera Cruz on the Gulf of Mexico, the Costa Chica region on the Pacific, and in and around Lima, Peru.

Professor Gates' journey becomes ours as we are introduced to the faces and voices of the descendants of the Africans who created these worlds. He shows both the similarities and distinctions between these cultures, and how the New World manifestations are rooted in, but distinct from, their African antecedents. "Black in Latin America" is the third instalment of Gates's documentary trilogy on the Black Experience in Africa, the United States, and in Latin America. In America Behind the Color Line, Professor Gates examined the fortunes of the black population of modern-day America. In Wonders of the African World, he embarked upon a series of journeys to reveal the history of African culture. Now, he brings that quest full-circle in an effort to discover how Africa and Europe combined to create the vibrant cultures of Latin America, with a rich legacy of thoughtful, articulate subjects whose stories are astonishingly moving and irresistibly compelling.

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