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This volume, a tribute by a group of distinguished economists to the scholarly achievements of Carlos Diaz-Alejandro, examines five areas to which he made important contributions. These economists have been close associates whose own research has been much influenced by his capacity to stimulate and innovate in a variety of subjects. Section 1, on International Trade, reflects his concern with the limits of orthodox analysis, and the need to consider an imperfect world. Section 2 treats an area in which he made early and important contributions, Foreign Investment. The papers provide simple models that have strong policy implications. The contributors to the third section agree on the gravity of the Debt Crisis, and the inability of even strong policy performance by the debtor countries to avert it. Section 4 deals with stabilization and macro-economic policies in the Latin American context. The papers are unified by the need for non-orthodox policies to cope with non-orthodox situations, a conclusion that Carlos regularly reached. The last section, on Economic History, contains a range of papers that give testimony to the breadth of Carlos' interests in this field.
Brings together more than one hundred articles dealing with the discipline of development in all its diversity. Key topics include the transformation of peasant economies, argibusiness, rural-urban relations, markets, industrialization, workers, trade, aid and structural adjustment. A unique set in its comprehensiveness and diversity, it also considers four key challenges for development theory and practice relating to capabilities, ethics, sustainability and regulation.
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Argentina. Thesis on the impact of devaluation of the foreign exchange rate on the economy and on the balance of payments - includes economic theory of devaluation, the structure and nature of savings and investment, the problem of inflation, features of foreign trade, monetary policy, etc. Bibliography pp. 196 to 203.
This study examines the impact of British capital flows on the evolution of capital markets in four countries - Argentina, Australia, Canada, and the United States - over the years 1870 to 1914. In substantive chapters on each country it offers parallel histories of the evolution of their financial infrastructures - commercial banks, non-bank intermediaries, primary security markets, formal secondary security markets, and the institutions that provide the international financial links connecting the frontier country with the British capital market. At one level, the work constitutes a quantitative history of the development of the capital markets of five countries in the late nineteenth century. At a second level, it provides the basis for a useable taxonomy for the study of institutional invention and innovation. At a third, it suggests some lessons from the past about modern policy issues.