Luis Bértola and José Antonio Ocampo
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199662135
- eISBN:
- 9780191748950
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199662135.003.0001
- Subject:
- Economics and Finance, Economic History, International
Chapter 1 presents an overview of Latin American development since Independence in a comparative perspective. Based on a new dataset of per capita GDP and a typology of Latin American countries, ...
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Chapter 1 presents an overview of Latin American development since Independence in a comparative perspective. Based on a new dataset of per capita GDP and a typology of Latin American countries, different stages of development and episodes of divergence and convergence with world leaders are identified. High volatility, linked to the pattern of production specialization and to pro-cyclical movements in capital flows, is identified as an important feature of Latin American development. Different stages of development are identified based on the forms of integration into the world economy. The environmental features of development are considered. Lags and achievements in schooling and life expectancy are discussed, as part of a broader analysis of a new historical human development index. The chapter ends with a discussion of the role played by inequality in Latin American development.Less
Chapter 1 presents an overview of Latin American development since Independence in a comparative perspective. Based on a new dataset of per capita GDP and a typology of Latin American countries, different stages of development and episodes of divergence and convergence with world leaders are identified. High volatility, linked to the pattern of production specialization and to pro-cyclical movements in capital flows, is identified as an important feature of Latin American development. Different stages of development are identified based on the forms of integration into the world economy. The environmental features of development are considered. Lags and achievements in schooling and life expectancy are discussed, as part of a broader analysis of a new historical human development index. The chapter ends with a discussion of the role played by inequality in Latin American development.
Luis Bértola and José Antonio Ocampo
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199662135
- eISBN:
- 9780191748950
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199662135.003.0006
- Subject:
- Economics and Finance, Economic History, International
The concluding chapter underscores four central themes of Latin America's economic history. The first is its early success in economic development but also its incapacity to steadily reduce the gaps ...
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The concluding chapter underscores four central themes of Latin America's economic history. The first is its early success in economic development but also its incapacity to steadily reduce the gaps that separate the region from the industrial world. The second is the economic instability associated with the region's patterns of international specialization, which evolve around natural resources, and unstable access to international financing. The third theme has been the slow pace at which the region has developed modern political and economic institutions and the high degree of variability in development paradigms that has gone along with this. The fourth is the high degree of inequality, which is presented as the greatest historical debt of Latin America.Less
The concluding chapter underscores four central themes of Latin America's economic history. The first is its early success in economic development but also its incapacity to steadily reduce the gaps that separate the region from the industrial world. The second is the economic instability associated with the region's patterns of international specialization, which evolve around natural resources, and unstable access to international financing. The third theme has been the slow pace at which the region has developed modern political and economic institutions and the high degree of variability in development paradigms that has gone along with this. The fourth is the high degree of inequality, which is presented as the greatest historical debt of Latin America.
Rachel A. Epstein
- Published in print:
- 2017
- Published Online:
- September 2017
- ISBN:
- 9780198809968
- eISBN:
- 9780191847219
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198809968.001.0001
- Subject:
- Political Science, Political Economy
States and banks have traditionally maintained close ties. At various points in time, states have used banks to manage their economies and soak up government debt, while banks enjoyed regulatory ...
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States and banks have traditionally maintained close ties. At various points in time, states have used banks to manage their economies and soak up government debt, while banks enjoyed regulatory forbearance, restricted competition and implicit or explicit guarantees from their home governments. The political foundations of banks have thus been powerful and enduring, with actors on both sides of the aisle reluctant to sever relations. The central argument of this book, however, is that in the world’s largest integrated market, Europe, political ties between states and banks have been transformed. Specifically, through a combination of post-communist transition, monetary union, and economic crisis, states in Europe no longer wield preponderant influence over their banks. In the East, high levels of foreign bank ownership have disrupted politically infused bank–state ties, while in the Eurozone, European Banking Union has supra-nationalized bank governance. Banking on Markets explains why we have witnessed the radical denationalization of this politically vital sector, as well as the consequences for economic volatility and policy autonomy. Contrary to expectations, marketized bank–state ties and elevated foreign bank ownership levels mitigated volatility in Europe’s recent economic crises. But marketized bank–state ties also limit national economic policy discretion. The findings from Europe have implications for other world regions, which, to varying degrees, have also experienced intensified pressure on their traditional models of domestic political control over finance.Less
States and banks have traditionally maintained close ties. At various points in time, states have used banks to manage their economies and soak up government debt, while banks enjoyed regulatory forbearance, restricted competition and implicit or explicit guarantees from their home governments. The political foundations of banks have thus been powerful and enduring, with actors on both sides of the aisle reluctant to sever relations. The central argument of this book, however, is that in the world’s largest integrated market, Europe, political ties between states and banks have been transformed. Specifically, through a combination of post-communist transition, monetary union, and economic crisis, states in Europe no longer wield preponderant influence over their banks. In the East, high levels of foreign bank ownership have disrupted politically infused bank–state ties, while in the Eurozone, European Banking Union has supra-nationalized bank governance. Banking on Markets explains why we have witnessed the radical denationalization of this politically vital sector, as well as the consequences for economic volatility and policy autonomy. Contrary to expectations, marketized bank–state ties and elevated foreign bank ownership levels mitigated volatility in Europe’s recent economic crises. But marketized bank–state ties also limit national economic policy discretion. The findings from Europe have implications for other world regions, which, to varying degrees, have also experienced intensified pressure on their traditional models of domestic political control over finance.
Lyn Ragsdale and Jerrold G. Rusk
- Published in print:
- 2017
- Published Online:
- May 2017
- ISBN:
- 9780190670702
- eISBN:
- 9780190670740
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190670702.003.0004
- Subject:
- Political Science, American Politics, Democratization
Abstract: The chapter introduces the specific indicators of uncertainty in the national campaign context, which include economic volatility, technology shock (with the invention of new mass ...
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Abstract: The chapter introduces the specific indicators of uncertainty in the national campaign context, which include economic volatility, technology shock (with the invention of new mass communication devices, including radio, television, cable television, and the Internet), dramatic national events such as US involvement in major international conflicts, and federal expansion of the franchise. The more change in each indicator, the greater the increase in uncertainty. The increase in uncertainty produces a decrease in nonvoting. Conversely, the more stable the indicator, the less uncertainty and the more likely nonvoting increases. The chapter tests an aggregate model across the full time frame from 1920 through 2012 for presidential and midterm House elections. The results show that relative to such personal factors as age and education, measures of economic volatility, new communication technology, and visible national events decrease nonvoting in both presidential and midterm House elections.Less
Abstract: The chapter introduces the specific indicators of uncertainty in the national campaign context, which include economic volatility, technology shock (with the invention of new mass communication devices, including radio, television, cable television, and the Internet), dramatic national events such as US involvement in major international conflicts, and federal expansion of the franchise. The more change in each indicator, the greater the increase in uncertainty. The increase in uncertainty produces a decrease in nonvoting. Conversely, the more stable the indicator, the less uncertainty and the more likely nonvoting increases. The chapter tests an aggregate model across the full time frame from 1920 through 2012 for presidential and midterm House elections. The results show that relative to such personal factors as age and education, measures of economic volatility, new communication technology, and visible national events decrease nonvoting in both presidential and midterm House elections.
Lyn Ragsdale and Jerrold G. Rusk
- Published in print:
- 2017
- Published Online:
- May 2017
- ISBN:
- 9780190670702
- eISBN:
- 9780190670740
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190670702.001.0001
- Subject:
- Political Science, American Politics, Democratization
The book explores the impact of uncertainty in the national campaign context on nonvoting in presidential and midterm House elections from 1920 through 2012. While previous studies have focused on ...
More
The book explores the impact of uncertainty in the national campaign context on nonvoting in presidential and midterm House elections from 1920 through 2012. While previous studies have focused on individuals' motivations to vote and candidates' mobilization efforts, this book considers how uncertain national circumstances in the months before the election affect whether people vote or not. Uncertainty is defined as decision makers being unable to accurately predict future conditions, possible options, or final outcomes based on the current situation. Within the national campaign context, uncertainty arises from economic volatility, technological advances in mass communication, dramatic national events including wars, and changes in suffrage requirements. The book examines this uncertainty across four historical periods: the government expansion period (1920–1944), the post-war period (1946–1972), the government reassessment period (1974–1990), the internet technology period (1992–2012). The book considers the nature of politics during these periods with key occurrences including the economic swings of the Roaring 20s, the Great Depression, the post-World War II boom, and the Great Recession, voting rights for women, African-Americans, and young people, and the effects of radio, television, cable television, and the Internet on nonvoting. It concludes that the higher the degree of uncertainty in the national scene, the more likely eligible voters will go to the polls. Conversely, the lower the degree of uncertainty, as the national scene remains stable, the less likely eligible voters will participate. As one example, throughout all four historical periods, economic change decreases nonvoting, while economic stability increases nonvoting.Less
The book explores the impact of uncertainty in the national campaign context on nonvoting in presidential and midterm House elections from 1920 through 2012. While previous studies have focused on individuals' motivations to vote and candidates' mobilization efforts, this book considers how uncertain national circumstances in the months before the election affect whether people vote or not. Uncertainty is defined as decision makers being unable to accurately predict future conditions, possible options, or final outcomes based on the current situation. Within the national campaign context, uncertainty arises from economic volatility, technological advances in mass communication, dramatic national events including wars, and changes in suffrage requirements. The book examines this uncertainty across four historical periods: the government expansion period (1920–1944), the post-war period (1946–1972), the government reassessment period (1974–1990), the internet technology period (1992–2012). The book considers the nature of politics during these periods with key occurrences including the economic swings of the Roaring 20s, the Great Depression, the post-World War II boom, and the Great Recession, voting rights for women, African-Americans, and young people, and the effects of radio, television, cable television, and the Internet on nonvoting. It concludes that the higher the degree of uncertainty in the national scene, the more likely eligible voters will go to the polls. Conversely, the lower the degree of uncertainty, as the national scene remains stable, the less likely eligible voters will participate. As one example, throughout all four historical periods, economic change decreases nonvoting, while economic stability increases nonvoting.
Mike Huggins
- Published in print:
- 2003
- Published Online:
- July 2012
- ISBN:
- 9780719065286
- eISBN:
- 9781781701669
- Item type:
- chapter
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9780719065286.003.0008
- Subject:
- History, Cultural History
England, particularly northern England, was the original home of the thoroughbred horse, and thoroughbred breeding was a national industry of great value. The ideal for all breeders was to breed ...
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England, particularly northern England, was the original home of the thoroughbred horse, and thoroughbred breeding was a national industry of great value. The ideal for all breeders was to breed stamina and speed in their horses, but Britain, with its high proportion of two-year-old racers, largely bred for speed at the expense of stamina. Breeders provided the thoroughbreds for flat racing, and were therefore indispensable. Some breeders were breeder-owners, breeding and racing their own horses, and prepared to trade potential profit for the pleasure of ownership. The breeding industry had always been economically risky and although it largely rode out the economic volatility of the 1920s and 1930s the period was fraught with anxiety for breeders, even though the drastic weeding out of useless horses that took place during the 1914–18 War had positive effects on the breeding stock.Less
England, particularly northern England, was the original home of the thoroughbred horse, and thoroughbred breeding was a national industry of great value. The ideal for all breeders was to breed stamina and speed in their horses, but Britain, with its high proportion of two-year-old racers, largely bred for speed at the expense of stamina. Breeders provided the thoroughbreds for flat racing, and were therefore indispensable. Some breeders were breeder-owners, breeding and racing their own horses, and prepared to trade potential profit for the pleasure of ownership. The breeding industry had always been economically risky and although it largely rode out the economic volatility of the 1920s and 1930s the period was fraught with anxiety for breeders, even though the drastic weeding out of useless horses that took place during the 1914–18 War had positive effects on the breeding stock.
Lyn Ragsdale and Jerrold G. Rusk
- Published in print:
- 2017
- Published Online:
- May 2017
- ISBN:
- 9780190670702
- eISBN:
- 9780190670740
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190670702.003.0010
- Subject:
- Political Science, American Politics, Democratization
This chapter summarizes the book. The central conclusion of the book is that when uncertainty is high, nonvoting decreases. Three generalizations arise about this uncertainty. First, dramatic changes ...
More
This chapter summarizes the book. The central conclusion of the book is that when uncertainty is high, nonvoting decreases. Three generalizations arise about this uncertainty. First, dramatic changes in economic conditions reduce nonvoting. This is true when the economy is moving upward or downward. When there is economic stability, nonvoting rates increase. Second, technology shocks with the advent of new forms of mass communication technology decrease nonvoting. The rise of radio, network television, and the Internet creates uncertainty about how the communication will work and nonvoting decreases. Third, in general, the rising costs of war reduce nonvoting. The greater the uncertainty about the war the more likely people will go to the polls.Less
This chapter summarizes the book. The central conclusion of the book is that when uncertainty is high, nonvoting decreases. Three generalizations arise about this uncertainty. First, dramatic changes in economic conditions reduce nonvoting. This is true when the economy is moving upward or downward. When there is economic stability, nonvoting rates increase. Second, technology shocks with the advent of new forms of mass communication technology decrease nonvoting. The rise of radio, network television, and the Internet creates uncertainty about how the communication will work and nonvoting decreases. Third, in general, the rising costs of war reduce nonvoting. The greater the uncertainty about the war the more likely people will go to the polls.
