Financialisation in Latin America: Challenges of the Export-Led Growth Model

ISBN-13: 9780367664008 / Angielski / Miękka / 2020 / 272 str.

Noemi Levy; Jorge Bustamante

Opis

This book analyses the evolution of financialisation in Latin America and seeks to determine the causes of the economic crises that have been triggered throughout the region in recent years. The discussion includes both regional and by-country analyses to determine shared trends and particularities of the various crises in different countries.

Recenzje

"This is a timely and much needed effort. Leaders in both Europe, North America, Africa and elsewhere, need to learn from the experience of Latin America regarding the negative consequences of insufficiently regulated financialization. The editors of this volume are making a significant contribution to debates about these issues by making this work available to the English speaking public.", Fernando Leiva, Department of Latin American and Latino Studies, University of California Santa Cruz, USA

Spis treści

Introduction. Section I: Regional Trends. 1. Multilateralism and Regional Trade and Payments, Jan Toporowski. 2. Capital Inflows, Current Account Deficits and Deindustrialization in Latin American Commodity-Producing Economies, Thomas Goda and Photis Lysandrou. 3. Limits and Perspectives of Export-Led Growth Model and Foreign Direct Investment in Latin America and Mexico, Guadalupe Moreno Huerta y Luis Kato. 4. Internationalisation, Big Corporations and Capital Accumulation in The Latin American Experience, Jorge Bustamante. 5. Financialisation and Economic Inequality in Latin America, Hanna Szymborska. 6. The Effect of Inflation Target Regimes in Commodities-Based, Financialised Economies on Income Growth and Distribution in Latin America, Santiago Capraro. Section II: The Failure of Comparative Advantages. 7. Structural Change in Colombia: From Import Substitution to Exports-Led Growth Illusion, Diego Guevara, Gonzalo Cómbita and Camilo Guevara. 8. Financialisation of Commodities, Reserve Accumulation and Debt in Argentina, Alan Cibils and Cecilia Allami. 9. A Sectoral Analysis of Mexico’s External Economic Opening (1982-2016), Abelardo Marina and Sergio Cámara. 10. The Natural Resource Curse and Financial Development Of Mexico, Alicia Puyana Mutis and Katya Pérez-Guzmán. Section III: The Growth of Financial Balance Sheets. 11. Financialisation in Small, Open Developing Economies: The Case of Chile, Esteban Pérez Caldentey and Nicole Favreau Negront. 12. Financialisation, Growth and Investment In Brazil, Luiz Fernando de Paula and Tiago R. Meyer. 13. Financial Structure and Big Corporations in Scenarios Of Increasing Indebtedness in Mexico, Gabriel Gomez Ochoa. 14. Financial Capital Flows and Forex Activities in Mexico: Finance or Specualtion?, Noemi Levy. 15. Exchange Rate Policy Restrictions on a High Volatility Environment: The Mexican Currency, Nora Ampudia Márquez and Luis Raúl Rodríguez Reyes

O autorze

Noemi Levy is a full-time Professor at the Economic Faculty of the National Autonomous University of Mexico (UNAM). Her research is concentrated in finance, monetary theory and policy, and financial institutions in developing economies.

Jorge Bustamante is a full-time Associate Professor at the Postgraduate School of Economics at the UNAM. His lines of interest are effects of financialisation on big corporations, profit strategies and financial structure of firms, development models and industrial policy.