Understanding the business cycle in Latin America: Prebisch's contributions

Pérez Caldentey, Esteban
Vernengo, Matías

2014-01-02T15:37:34Z

9789211217605
LC/L.3333-P
LC/MEX/L.1011

Descargar documento

This paper analyzes Raúl Prebisch's less familiar contributions to economic theory, related to the business cycle, and heavily informed by the Argentinean experience. His views of the cycle emphasize the common nature of the cycle in the center and the Latin American periphery as one unified phenomenon. While his rejection of orthodoxy is less than complete, some elements of what would become a more Keynesian position are developed. In particular, a preoccupation with the management of the balance of payments and the need for capital controls as a macroeconomic management tool, considerably before Keynes and White's plans led to the Bretton Woods agreement. In the process it is clear that Prebisch developed several ideas that are still relevant to understand cyclical fluctuations in Latin America and the periphery in general, and became more concerned with the capacity of taking advantage of cyclical booms to maintain sustained economic growth

Includes bibliography

TRADE PROMOTION; PROMOCION DEL COMERCIO; COMERCIO INTERNACIONAL; PREBISCH, RAUL; BUSINESS CYCLES; SEASONAL VARIATIONS; ECONOMIC CONDITIONS; ECONOMIC CRISIS; TRADE EXPANSION; EXPORT DEVELOPMENT; TRADE LIBERALIZATION; INTERNATIONAL TRADE; LIBERALIZACION DEL INTERCAMBIO; DESARROLLO DE LAS EXPORTACIONES; EXPANSION DEL COMERCIO; CRISIS ECONOMICA; CONDICIONES ECONOMICAS; VARIACIONES ESTACIONALES; CICLOS ECONOMICOS; PREBISCH, RAUL;