Economic Survey of Latin America 1949

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Published since 1948, this report examines various aspects of the previous year’s macroeconomic situation in the region and makes projections for the coming months. The study also includes country notes that review the performance of the main economic indicators in the period analysed.



The spread of technical progress and the terms of trade

In the preceding chapter, we sought to show that the improvement in the terms of trade of the great industrial countries, with the corresponding deterioration in the periphery, has been one of the principal factors responsible for the decrease of the import coefficient of the former. We have also pointed out the adverse influence of this phenomenon on the import capacity of Latin America, which had just reached a point in its economic development where imports tended to increase constantly.


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