scispace - formally typeset
Search or ask a question
Posted Content

The economic development of Latin America and its principal problems

27 Apr 1950-
About: The article was published on 1950-04-27 and is currently open access. It has received 1846 citations till now. The article focuses on the topics: Latin Americans.

Content maybe subject to copyright    Report

Citations
More filters
Posted Content
TL;DR: The authors showed that countries with a high ratio of natural resource exports to GDP tended to have low growth rates during the subsequent period 1971-89, even after controlling for variables found to be important for economic growth, such as initial per capita income, trade policy, government efficiency, investment rates, and other variables.
Abstract: One of the surprising features of modern economic growth is that economies with abundant natural resources have tended to grow less rapidly than natural-resource-scarce economies. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1971 (the base year) tended to have low growth rates during the subsequent period 1971-89. This negative relationship holds true even after controlling for variables found to be important for economic growth, such as initial per capita income, trade policy, government efficiency, investment rates, and other variables. We explore the possible pathways for this negative relationship by studying the cross-country effects of resource endowments on trade policy, bureaucratic efficiency, and other determinants of growth. We also provide a simple theoretical model of endogenous growth that might help to explain the observed negative relationship.

3,511 citations

Book
01 Jan 2004
TL;DR: The Advanced International Trade (AIT) as discussed by the authors is a classic graduate textbook in international trade that has been used widely by students and practitioners of economics for a long time to come.
Abstract: Trade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field and prepares students to undertake their own research. In Advanced International Trade, Robert Feenstra integrates the most current theoretical approaches with empirical evidence, and these materials are supplemented in each chapter by theoretical and empirical exercises.Feenstra explores a wealth of material, such as the Ricardian and Heckscher-Ohlin models, extensions to many goods and factors, and the role of tariffs, quotas, and other trade policies. He examines imperfect competition, offshoring, political economy, multinationals, endogenous growth, the gravity equation, and the organization of the firm in international trade. Feenstra also includes a new chapter on monopolistic competition with heterogeneous firms, with many applications of that model. In addition to known results, the book looks at some particularly important unpublished results by various authors. Two appendices draw on index numbers and discrete choice models to describe methods applicable to research problems in international trade. Completely revised with the latest developments and brand-new materials, Advanced International Trade is a classic textbook that will be used widely by students and practitioners of economics for a long time to come.Updated second edition of the essential graduate textbookCurrent approaches and a new chapter on monopolistic competition with heterogeneous firmsSupplementary materials in each chapterTheoretical and empirical exercisesTwo appendices describe methods for international trade researchSolutions manual available to professorsProfessors: A supplementary Solutions Manual is available for this book. It is restricted to teachers using the text in courses.

1,699 citations

Journal ArticleDOI
TL;DR: This paper reviewed a wide range of recent attempts in both economics and political science to explain the "resource curse" and found that much has been learned about the economic problems of resource exporters but less is known about their political problems.
Abstract: How does a state's natural resource wealth influence its economic development? For the past fifty years, versions of this question have been explored by both economists and political scientists. New research suggests that resource wealth tends to harm economic growth, yet there is little agreement on why this occurs. This article reviews a wide range of recent attempts in both economics and political science to explain the “resource curse.” It suggests that much has been learned about the economic problems of resource exporters but less is known about their political problems. The disparity between strong findings on economic matters and weak findings on political ones partly reflects the failure of political scientists to carefully test their own theories.

1,690 citations

Journal ArticleDOI
TL;DR: In this paper, the authors present evidence from seven Latin American countries that natural resource booms are sometimes accompa- nied by declining per-capita GDP, and they present a model with natural resources, increasing returns in the spirit of big push models.

1,581 citations


Cites background from "The economic development of Latin A..."

  • ...To be sure, an important impetus for this challenge was the interwar experience with declining commodity prices, and the early-postwar view associated with Singer (1950) and Prebisch (1950) that commodity prices were on a secular decline....

    [...]

Posted ContentDOI
TL;DR: The Kiel Institute for the World Economy (Kiel) as mentioned in this paper provided a good deal of support during my stay at Kiel in 1992, and I am particularly grateful to the participants of a seminar at USAID for stimulating discussions.
Abstract: I am indebted to three referees for extremely helpful comments This paper was revised during my stay at the Kiel Institute for the World Economy, in March 1992 I thank colleagues and the library staff at Kiel for support I am grateful to the participants of a seminar at USAID for stimulating discussions I especially thank Jim Fox for his comments Roberto Schatan, Fernando Losada, and Abraham Vela, provided able assistance I am particularly indebted to Miguel Savastano for extensive assistance and comments on earlier versions of this paper Financial support from the Institute for Policy reform, the University of California Pacific Rim Program, and the National Science Foundation is gratefully acknowledged

1,450 citations