The Economic History of Latin America since Independence by Victor Bulmer-Thomas

By Victor Bulmer-Thomas

This e-book covers the commercial background of Latin the USA from independence within the 1820s to the current. It stresses the diversities among Latin American international locations whereas spotting the same exterior impacts to which the zone has been topic. Victor Bulmer-Thomas notes the failure of the zone to shut the distance in residing criteria among it and the us and explores the explanations. He additionally examines the hot paradigm taking form in Latin the US because the debt hindrance of the Eighties and asks even if this new fiscal version might be capable of carry the expansion and fairness that the zone desperately wishes. First version Hb (1995): 0-521-36329-2 First version Pb (1995): 0-521-36872-3

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232; The World Bank (2002a). populous countries, had high rates of population growth, however, until the 1990s. Their share of the Latin American total – 53 percent in 2000 – can be expected to stabilize now that birth rates are falling. In most less-developed countries (LDCs) a rapid rate of urbanization is consistent with an increasing rural population. Rural–urban migration is important, but the small size of the urban areas means that they cannot absorb all the increase in the rural population.

For an overview, see Lockhart and Schwartz (1983), Chapter 9. 7. 28 Compared to the United States, however, the growth of real per capita GDP in Latin America was disappointing in the eighteenth century. See Coatsworth (1993), Table 3, p. 14. 29 On the dismal economic performance in Mexico at the time of independence, see Coatsworth (1978) and Salvucci (1997). Randall (1977), p. 224, also gives a rough estimate of GDP for Mexico, which confirms the impression of a decline in the first half of the nineteenth century.

The principal investor in the nineteenth century, Great Britain, had, by 1930, been replaced in most countries by the United States. Subsequently, the state steadily increased its participation in economic activity, taking over public utilities, railways, and natural resources that had previously been controlled by foreigners. However, foreign capital remained important in a number of primary commodities, particularly non-oil minerals, and became attracted by the new opportunities in industry after the Second World War.

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