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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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By Way of Conclusion

By Way of Conclusion

The History and Challenges of Latin American Development

(p.258) 6 By Way of Conclusion
The Economic Development of Latin America since Independence

Luis Bértola

José Antonio Ocampo

Oxford University Press

The concluding chapter underscores four central themes of Latin America's economic history. The first is its early success in economic development but also its incapacity to steadily reduce the gaps that separate the region from the industrial world. The second is the economic instability associated with the region's patterns of international specialization, which evolve around natural resources, and unstable access to international financing. The third theme has been the slow pace at which the region has developed modern political and economic institutions and the high degree of variability in development paradigms that has gone along with this. The fourth is the high degree of inequality, which is presented as the greatest historical debt of Latin America.

Keywords:   economic development, economic volatility, natural resources, institutional development, inequality

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