Foundations for Economic Development in Latin America: Review of Core Literature on Industrial Revolution, Fundamental Principles at Work, Case Study of Mexico Revealing Needed Institutions

Nonfiction, History, Americas, Mexico, Business & Finance, Economics, Economic History
Cover of the book Foundations for Economic Development in Latin America: Review of Core Literature on Industrial Revolution, Fundamental Principles at Work, Case Study of Mexico Revealing Needed Institutions by Progressive Management, Progressive Management
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Progressive Management ISBN: 9780463488478
Publisher: Progressive Management Publication: September 3, 2018
Imprint: Smashwords Edition Language: English
Author: Progressive Management
ISBN: 9780463488478
Publisher: Progressive Management
Publication: September 3, 2018
Imprint: Smashwords Edition
Language: English

This mid-2018 report has been professionally converted for accurate flowing-text e-book format reproduction. Theory attempting to explain poverty and development is vast, varied, and, in many ways, inconclusive. In this thesis, I review core literature on the Industrial Revolution and the rise of Western Europe and the Asian Tigers, finding that their economic development rested on a cycle of three fundamental principles: rule of law, access to capital, and strong, yet restrained, bureaucratic capacity. With an emphasis on Latin America, I then conduct a two-step analysis to determine the universal applicability of these factors. First, I analyze the implementation and outcomes of import substitution industrialization, finding an ambiguous correlation between this landmark set of economic policies and economic outcomes. Second, I develop a case study of Mexico that demonstrates a strong correlation between economic development and the three underpinnings of rule of law, access to capital, and strong, yet restrained, bureaucratic capacity. The thesis concludes that these three factors are universally crucial for sustained growth and development. This research also finds that the institutions that provide for these principles can take vastly different forms, and, in doing so, it joins a growing body of scholarship that emphasizes the significance of institutional function over institutional form.

Prior to the Industrial Revolution, most people were abjectly poor and lived perpetually on the brink of starvation. Around 1820, however, standards of living began increasing in specific parts of the world, where the next hundred years of economic growth brought about a modern abundant society. Along with this unprecedented abundance, however, came the phenomenon whereby a handful of countries experienced unprecedented economic growth while the rest of the world stagnated. Also known as The Great Divergence, this selective explosion of growth essentially divided the world in two: advanced, industrialized countries and the poor, underdeveloped world. With the exception of a handful of countries that were subsequently able to make the leap across the divide, this economic divergence has largely persisted into the contemporary era. Persistent poverty and inequality between countries, therefore, prominently feature in the modern global economy.

This first chapter observes the origins of The Great Divergence, reviews the most prominent 20th century developmental theories designed to close the developmental gap, then studies the underlying causes of the Industrial Revolution. It establishes the theoretical and historical foundations to assert that economic development rests on a cycle of rule of law, access to capital, and strong, yet restrained, bureaucratic capacity. The second chapter focuses on Latin America and its aggressive attempt to replicate the Industrial Revolution through an economic prescription known as import substitution industrialization (ISI).

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This mid-2018 report has been professionally converted for accurate flowing-text e-book format reproduction. Theory attempting to explain poverty and development is vast, varied, and, in many ways, inconclusive. In this thesis, I review core literature on the Industrial Revolution and the rise of Western Europe and the Asian Tigers, finding that their economic development rested on a cycle of three fundamental principles: rule of law, access to capital, and strong, yet restrained, bureaucratic capacity. With an emphasis on Latin America, I then conduct a two-step analysis to determine the universal applicability of these factors. First, I analyze the implementation and outcomes of import substitution industrialization, finding an ambiguous correlation between this landmark set of economic policies and economic outcomes. Second, I develop a case study of Mexico that demonstrates a strong correlation between economic development and the three underpinnings of rule of law, access to capital, and strong, yet restrained, bureaucratic capacity. The thesis concludes that these three factors are universally crucial for sustained growth and development. This research also finds that the institutions that provide for these principles can take vastly different forms, and, in doing so, it joins a growing body of scholarship that emphasizes the significance of institutional function over institutional form.

Prior to the Industrial Revolution, most people were abjectly poor and lived perpetually on the brink of starvation. Around 1820, however, standards of living began increasing in specific parts of the world, where the next hundred years of economic growth brought about a modern abundant society. Along with this unprecedented abundance, however, came the phenomenon whereby a handful of countries experienced unprecedented economic growth while the rest of the world stagnated. Also known as The Great Divergence, this selective explosion of growth essentially divided the world in two: advanced, industrialized countries and the poor, underdeveloped world. With the exception of a handful of countries that were subsequently able to make the leap across the divide, this economic divergence has largely persisted into the contemporary era. Persistent poverty and inequality between countries, therefore, prominently feature in the modern global economy.

This first chapter observes the origins of The Great Divergence, reviews the most prominent 20th century developmental theories designed to close the developmental gap, then studies the underlying causes of the Industrial Revolution. It establishes the theoretical and historical foundations to assert that economic development rests on a cycle of rule of law, access to capital, and strong, yet restrained, bureaucratic capacity. The second chapter focuses on Latin America and its aggressive attempt to replicate the Industrial Revolution through an economic prescription known as import substitution industrialization (ISI).

More books from Progressive Management

Cover of the book 21st Century Parkinson's Disease (PD) Sourcebook: Clinical Data for Patients, Families, and Physicians - Symptoms, Staging, Drug Treatments, Deep Brain Stimulation, Caregiving, Supportive Therapies by Progressive Management
Cover of the book The History of the U.S. Army Corps of Engineers: From the Revolutionary War to the Space Race, West Point, Flood Control, Hydropower, Combat Operations, Panama Canal, World War I and II, Apollo by Progressive Management
Cover of the book Pre-Emption and Precedent: The Significance of Iraq (1981) and Syria (2007) for an Israeli Response to an Iranian Nuclear Threat - Osirak Reactor, Covert Actions, Air Strike, IAEA, U.S. Relations by Progressive Management
Cover of the book Education Requirements of Command Positions in the U.S. Border Patrol (USBP) - Trends in Education Requirements for Law Enforcement, Border Patrol Agent Classification and Occupational Standards by Progressive Management
Cover of the book X-15: Extending the Frontiers of Flight - Encyclopedic History of America's First Hypersonic Rocket-powered Aircraft and Space Plane - Million Horsepower Engine, Muroc, Edwards AFB (Part 1) by Progressive Management
Cover of the book Complete Guide to the Kepler Space Telescope Mission and the Search for Habitable Planets and Earth-like Exoplanets: Planet Detection Strategies, Mission History and Accomplishments by Progressive Management
Cover of the book 21st Century Adult Cancer Sourcebook: Oropharyngeal Cancer - Clinical Data for Patients, Families, and Physicians by Progressive Management
Cover of the book Gulf War Logistics: Theory Into Practice - Desert Shield and Storm, Army Logistics from Vietnam to AirLand Battle, Ramifications of Schwarzkopf's Decision, Tactical Airlift, Ground Transportation by Progressive Management
Cover of the book 21st Century FEMA Study Course: Coordinating Environmental and Historic Preservation Compliance (IS-253) - Historic Property Laws, Preservation Issues, STATEX and CATEX by Progressive Management
Cover of the book Eisenhower: The Suez Crisis - An Appraisal of Presidential Leadership, The Aswan Dam Problem, Diplomatic Marathon, Outbreak of War, Alliance with Britain and France in Peril, Final Resolution by Progressive Management
Cover of the book Milestones in Strategic Arms Control, 1945-2000: United States Air Force Roles and Outcomes - Nuclear Weapons, SALT, Soviet Union, Reagan Years by Progressive Management
Cover of the book The Fighting Colonel: Ranald S. Mackenzie's Leadership on the Texas Frontier - Conflicts Between White Settlers and Comanche Indians at Battles of Blanco Canyon, McClellan's Creek, Palo Duro by Progressive Management
Cover of the book History of the Office of the Secretary of Defense, Volume Two: The Test of War, 1950-1953 - Pentagon's Role in the Korean War, the Recall of MacArthur, Hydrogen Bomb, Truman, NATO by Progressive Management
Cover of the book 21st Century Peacekeeping and Stability Operations Institute (PKSOI) Papers - Ground Truth in Building Human Security - Land Rights, Cadastres and Cadastral Systems, Land Tenure, USAID by Progressive Management
Cover of the book Integrating the Unmanned Aircraft System (UAS) Into the National Airspace System by Progressive Management
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy