Trade, Stability, Technology, and Equity in Latin America

Trade, Stability, Technology, and Equity in Latin America

1st Edition - January 28, 1982

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  • Editors: Moshé Syrquin, Simón Teitel
  • eBook ISBN: 9781483267531

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Trade, Stability, Technology, and Equity in Latin America provides information pertinent to the substantial social and economic progress in Latin America. This book covers a variety of topics, including international trade, technology, equity, external instability, and stabilization and growth. Organized into five parts encompassing 21 chapters, this book begins with an overview of the purchasing power parity theory of exchange rate determination and the law of one price. This text then provides a discussion of extending the monetary approach to the balance of payments to incorporate terms of trade effects. Other chapters consider the experience with the promotion of labor-intensive exports of manufacturers. This book discusses as well the pros and cons of external debt in Latin American development. The final chapter deals with economic development and provides an examination of basic needs, income distribution, and employment. This book is a valuable resource for policy makers, industrialists, economists, and structuralists.

Table of Contents

  • List of Contributors



    Part I International Trade

    Chapter 1 Exchange Rates and Terms of Trade in the Argentine Republic, 1913-1976

    I. Real Exchange Rates Since 1913

    II. Departures from PPP

    III. The Law of One Price


    Chapter 2 The Terms of Trade, Real Output, and the Balance of Payments in a Primary Exporting Country: A Model and Some Estimates for Guatemala

    I. The Model

    II. The Case of Guatemala: Some General Considerations

    III. Empirical Results


    Chapter 3 Dismantling Foreign Trade Restrictions: Some Evidence and Issues on the Argentine Case

    I. Introduction

    II. Nominal and Effective Protection

    III. An Exercise in Tariff Dismantling

    IV. On the Change in Relative Prices

    V. Summary and Conclusions


    Chapter 4 Manufactured Exports, Labor Productivity, and Employment in Latin America: A Hypothesis Based on the Clothing Industry in Colombia

    I. Introduction

    II. Protection, Exports, and Labor Productivity

    III. Causes of the Rise and Fall of Colombia's Clothing Exports

    IV. Generalizing to Other Industries and Other Latin American Countries

    V. Conclusion


    Part II External Instability

    Chapter 5 Old and New Forms of External Instability in Latin America: Sources, Mechanisms of Transmission, and Policies

    I. Introduction

    II. Sources of External Instability

    III. The Transmission of Instability

    IV. Policies for Stability: Some Issues for Research


    Chapter 6 The Vulnerability of Small Semi-Industrialized Economies to Export Shocks: A Simulation Analysis Based on Peruvian Data

    I. The Small Semi-Industrialized Economy and Its Balance-of-Payments Adjustment Mechanism

    II. Multisectoral Models of Adjustment to Export Shortfalls

    III. Simulation Results for Peru

    IV. Policy Conclusions


    Chapter 7 Latin American External Debt: The Case of Uncertain Development

    I. Introduction

    II. The Composition and Magnitude of the Debt

    III. The Rate of Return to External Borrowing

    IV. Projections of Latin American Financing Needs

    V. Conclusion


    Part III Stabilization and Growth

    Chapter 8 Macroeconomic Disequilibrium and Short-Run Economic Growth in Developing Countries

    I. Introduction

    II. Possible Macroeconomic Adjustment Mechanism: IS Equilibrium

    III. Sample Estimates of the Saving and Investment Functions

    IV. Destabilizing IS Adjustment

    V. Closing the Model

    VI. Supplementary Macroeconomic Adjustment Mechanisms

    VII. Macroeconomic Adjustment and Short-Run Growth

    VIII. Concluding Remarks


    Chapter 9 Investment, Inflation, and Employment: A Macroeconomic Framework

    I. Introduction

    II. Income and Wealth Accounts

    III. Equilibrium

    IV. Comparative Statics


    Chapter 10 Inflation and Growth: Lessons from the Argentine Experience

    I. Introduction

    II. The Costs of Inflation

    III. Repressed Inflation

    IV. Inflation and Growth

    V. Free Inflation: The Road to Sustained Price Stability

    VI. Conclusions


    Chapter 11 Economic Stabilization and Structural Change: The Chilean Economy after 1973

    I. Macroeconomic Results

    II. The Stabilization Program and Its Phases

    III. Structural Changes

    IV. Conclusions


    Part IV Technology

    Chapter 12 Fostering Technological Mastery by Means of Selective Infant-Industry Protection

    I. Introduction

    II. The Nature of Infant-Industry Costs and Benefits

    III. Conventional Prescriptions versus Actual Practice

    IV. Reformulation of the Prescription for Infant Industries

    V. The Evidence Reconsidered

    VI. Export Performance

    VII. Infant-Industry Exports

    VIII. Conclusion: Implications for Industrial Strategy

    IX. Postscript


    Chapter 13 Technology and Economic Development: An Overview of Research Findings

    I. Introduction

    II. Firms, Technology, and Industrial Organization in DCs and LDCs

    III. The Production Function for New Technical Knowledge


    Chapter 14 The Engineering Sector in a Model of Economic Development

    I. The Model

    II. Nature and Implications of the Model

    III. Final Remarks


    Chapter 15 The Skills and Information Requirements of Industrial Technologies: On the Use of Engineers as a Proxy

    I. Introduction

    II. The Engineering Role

    III. Characterization of the Industries by Engineering Skills

    IV. Characterization of the Level of Technological Development by the Stock and Utilization of Engineering and Scientific Skills


    Chapter 16 The Capital Goods Sector in LDCs: Economic and Technical Development

    I. Introduction

    II. Evidence of Cost Efficiency

    III. Evidence of Design Adaptation to Domestic Factor Proportions

    IV. Some Hypotheses about the Research Process

    V. Requirements of Cost Efficiency and Design Innovation

    VI. Implications for Policy


    Part V Equity

    Chapter 17 Basic Needs, Distribution, and Growth: The Beginnings of a Framework

    I. Introduction

    II. Basic Needs within a General Economic System

    III. Incomes, Allotments, and Basic Needs

    IV. Basic Needs Planning Policy and Organizational Choices


    Chapter 18 Trying to Appraise a Decade of Development: Latin America in the Sixties

    I. Introduction

    II. The Search for a Development Indicator

    III. Another Attempt at Quantifying Latin America's Development Between 1960 and 1970



    Chapter 19 Growth, Underemployment, and Income Distribution

    I. Introduction

    II. The Methodology

    III. Informal Sector: Underemployment and Equity at Low Income Levels

    IV. Intersectoral Income Differentials and Nondecreasing Gaps

    V. Employment Pattern and Income Inequality

    VI. Growth, Labor Market, and Inequality

    VII. Conclusions


    Chapter 20 Labor, Education, and Development: Whither Latin America?

    I. Sectoral Employment

    II. Occupational Distribution of the Labor Force

    III. Educational Requirements of Occupations

    IV. Whither Latin America?


    Chapter 21 Economic Growth, Rural and Urban Wages: The Case of Brazil

    I. Introduction

    II. Rural Wages

    III. Urban Wages

    IV. Urban-Rural Wage Ratio

    V. Conclusions




Product details

  • No. of pages: 512
  • Language: English
  • Copyright: © Academic Press 1982
  • Published: January 28, 1982
  • Imprint: Academic Press
  • eBook ISBN: 9781483267531

About the Editors

Moshé Syrquin

Simón Teitel

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