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CEPAL Review - Volume 1976, Issue 2, 1976
Volume 1976, Issue 2, 1976
Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of reforms and transfer of technology. Written in English and Spanish (Revista De La Cepal), each tri-annual issue brings you approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.
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Latin America in the possible scenarios of détente
Author: José Medina EchavarriaThere are a number of indicators which point to the possibility that some slackening may be occurring in the rivalries between the great powers which may lead to the final solution of the “cold war” and the beginning of a period of stable and lasting international peace. If international relations really are moving towards such a change, then what would the economic, political and ideological repercussions of this development be for Latin America? The author of this essay in social futurology puts this question and, after first of all setting out the salient features of the “cold war”, devotes the central part of this article to an analysis of the effects that such a détente in international relations would have on Latin America. Three different types of possible détente —co-operative, competitive and conflictive — are presented and the implications of each of them are considered with special attention to the likely consequences of the first one. Among these consequences, the author highlights the predominance of cosmopolitan and universalist attitudes in international relations, ideological “decentralization”, the expansion of markets, the weakening of the system of satellites, the prevalence of non-authoritarian régimes, etc. Finally, the autor analyses the repercussions of détente on three key questions in the development of the region: its situation on the periphery, the contradiction between political and economic rationality, and Latin American integration.
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The revolt of the bankers in the international economy: A world without a monetary system
Author: Carlos MassadThis article gives a brief overview of the post-war international m onetary system and its main characteristics, w ith special em phasis on the aspects which subsequently created difficulties. It shows how the system developed and identifies the events which led to the international m onetary crisis at the beginning of the 1970s. It describes the exchange arrangem ents w hich arose as a consequence o f the crisis and analyses the conditions in which such arrangem ents can be effective, the developing countries’ possibilities of using them, and the effects on those countries and on the dem and for international liquidity by the public and private sectors. With regard to this latter aspect, it stresses the increase in the private sector’s intervention role in the exchange m arkets and the influence of this increase on the international generation and transm ission of disequilibria. It then goes on to the attem p ts to reform the m onetary system and the am endm ents to the Articles of Agreement of the International M onetary Fund and their effects on the developing countries.
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Industrial development and employment: The experience of Asia and Latin American development strategy
Author: Akio HosonoIn Latin America it is generally believed that the modern and traditional sectors of the economy are divergent and even incompatible, but in the light of the experience of Japan and China this assertion can be refuted. In the post-war period, Japan chose a style of development made up of both these sectors, which has promoted the parallel advance of industries of different size and capital intensity. Since 1958, China has followed the policy of “walking on two legs”, which pursues the simultaneous and combined development of agriculture and manufacturing and, within the latter, of different sectors, levels of technology, and localities.
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The production structure and the dynamics of development
Authors: Gérard Ficket and Norberto GonzalezThe authors criticize the fallacious concept of an antinomy between import substitution policies and policies to promote the export of manufactures. To regard these as mutually exclusive alternatives poses options geared only to part of the problem, and incapable of providing an adequate answer to development needs. Substitution without exports, carried out within the narrow framework of each national market, leads to inefficiency and high costs. The export of manufactures without substitution maintains the current backwardness in the production of capital goods and essential intermediate goods which is a bar to less dependent and more rapid development and helps to account for Latin America’s present unsatisfactory position in the world economy. The authors show that, in developed economies, the larger the market, the farther industrial development can be taken without any loss of efficiency. In the light of this object lesson, they suggest that if import substitution policies and policies for the export of manufactures were combined through co-operation between the countries of the region, Latin America would attain a better position in the international economy and a much higher level of development.
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Types of income concentration and political styles in Latin America
Author: Jorge GraciaremThis study examines the forms of income concentration in capitalist economic growth in Latin America. First it deals with the recent income distribution trends of a number of countries in the region, highlighting the forms of concentration in different periods. It goes on to study the types of concentration which can be inferred from the trends observed and the structural forms and specific political processes which accompany them, taking into account some of the economic explanations which have been in fashion in recent years. Finally, it attempts to show that the patterns of income distribution, besides having undeniable economic foundations, at the same time possess deep roots linking their composition and transformations with the prevailing social structure, political regimes and styles of development.
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