The Puzzle of Latin American Economic Development

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9780742553538: The Puzzle of Latin American Economic Development

Thoroughly revised and updated, this text provides the basic economic tools for students to understand the problems facing the countries of Latin America. In this third edition, Patrice Franko analyzes challenges to the neoliberal model of development and highlights recent macroeconomic changes in the region. Including charts and tables with the most current data available, the book also offers a wealth of new boxed discussions and vignettes.

After a brief historical overview incorporating quantitative and theory-driven results from the new economic history, Franko builds a contemporary model of regional development. She explores the contradictions of growth, especially in the context of overcoming intractable problems of poverty, education, health, and discrimination. Franko focuses on factors of competitiveness, including labor markets, technology, and infrastructure challenges. Inviting students to view challenges through the eyes of policymakers, the text encourages a critical assessment of past and present policy choices. Updated chapters include new research on debt relief, inflation targeting, the changing role of the state, the challenge from China, chronic poverty, bottom-of-the-pyramid marketing, conditional transfer programs, and progress on the millennium development goals. Liberally interspersed with examples and case studies, the book successfully combines theory and its application in the real world.

This innovative yet user-friendly text simultaneously challenges strong students while clarifying the fundamentals for novices. By exploring the difficult choices facing Latin American policymakers, the author gives readers interested in economics or in Latin American studies the conceptual means to understand the puzzle of strong, sustainable, and equitable growth in the region.

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About the Author:

Patrice Franko is Grossman Professor of Economics at Colby College.

Review:

Superbly written, this book unravels the tortured history of Latin American economic development, making it comprehensible and enjoyable reading. Armed with the most current statistics and case studies . . . Franko fairly assesses successes and failures, from the import substitution policy to the state-led development and the 'radical shift' to the neoliberal experiment in the 1990s. . . . Essential. (Richard Salvucci H-Latam)

This book is clearly written and organized. . . . It presents a wealth of detailed and illustrative data with precise definitions. . . . It is one of the best texts on the political economy of Latin America. It clearly presents and discusses the challenges and contradictions of contemporary development models in the region. . . . Highly recommend[ed] . . . for upper level undergraduate courses or graduate level courses on the development of Latin America. (The Latin Americanist)

Franko's book is the most comprehensive book available, while also providing an engaging text for students. It is an excellent stand-alone text for economic novices and a wonderful starting point for more advanced economics students. (Kristina Lybecker, Colorado College)

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