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The Economic Development of Latin America since Independence$
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Luis Bértola and José Antonio Ocampo

Print publication date: 2012

Print ISBN-13: 9780199662135

Published to Oxford Scholarship Online: January 2013

DOI: 10.1093/acprof:oso/9780199662135.001.0001

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Latin America in the World Economy, 1810–2010

Latin America in the World Economy, 1810–2010

(p.1) 1 Latin America in the World Economy, 1810–2010
The Economic Development of Latin America since Independence

Luis Bértola

José Antonio Ocampo

Oxford University Press

Chapter 1 presents an overview of Latin American development since Independence in a comparative perspective. Based on a new dataset of per capita GDP and a typology of Latin American countries, different stages of development and episodes of divergence and convergence with world leaders are identified. High volatility, linked to the pattern of production specialization and to pro-cyclical movements in capital flows, is identified as an important feature of Latin American development. Different stages of development are identified based on the forms of integration into the world economy. The environmental features of development are considered. Lags and achievements in schooling and life expectancy are discussed, as part of a broader analysis of a new historical human development index. The chapter ends with a discussion of the role played by inequality in Latin American development.

Keywords:   comparative development, convergence/divergence, economic volatility, human development, inequality, capital flows, balance of payments constraints, environment

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