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 Adult Cancer Sourcebook: Malignant Mesothelioma - Clinical Data for Patients, Families, and Physicians by Progressive Management
Cover of the book A Survey History of Fort Bliss 1890-1940: Texas Army Installation, Spanish-American War, Mexican Revolution, World War I, Permanent Cavalry Post, World War II and Early Cold War Period by Progressive Management
Cover of the book A Guide to the Study and Use of Military History: Great Historians, American and World Military History, World War, Museums and Collections, Academic World, Army School System, Art, Field Detachment by Progressive Management
Cover of the book U.S. Marines in Afghanistan, 2001-2002: From the Sea - U.S. Marines in the Global War on Terrorism, Tora Bora, Enduring Freedom, Osama bin Laden, al-Qaeda, Taliban, Operations at Kandahar by Progressive Management
Cover of the book History of the Office of the Secretary of Defense, Volume Six: McNamara, Clifford, and the Burdens of Vietnam 1965 - 1969, Israel and the Middle East, North Korea, Dominican Republic by Progressive Management
Cover of the book One Hundred Years of Flight: USAF Chronology of Significant Air and Space Events 1903-2002 - Wright Brothers, World War II, American Military Aviation History by Progressive Management
Cover of the book General William C. Westmoreland: Symbol of America to War, 1964-1968, Symbol of War to America, 1982-1985 - A Study of Three News Magazines, Vietnam War, CBS Libel Trial by Progressive Management
Cover of the book Bureau of Reclamation Colorado River Dams and Water Projects: Colorado River Project, Dallas Creek Project, Glen Canyon Unit, Smith Fork Project - History, Construction by Progressive Management
Cover of the book Guide to Arctic Security and American Military Implications of Climate Change: Reemergence of the Arctic as a Strategic Location, Taking Command, Managing the Arctic Thaw, Future Naval Operations by Progressive Management
Cover of the book 2014 Major American Weapons Systems: Report of the Pentagon's Testing Director - Army, Navy, Air Force Programs, F-35, Ballistic Missile Defense, Aegis, Missiles, Submarines, Aircraft Carriers by Progressive Management
Cover of the book The Persistence of Toxic and Unethical Leadership: How Does the U.S. Army Improve Leader Development and Selection? Evaluating Traits Required by Mission Command and Army Doctrine by Progressive Management
Cover of the book Organizational Learning and the Marine Corps: The Counterinsurgency Campaign in Iraq - Anbar Narrative and Unexpected Success, Ramadi, All the Wrong Moves, AQI's Targeted Killing, Counterterrorism by Progressive Management
Cover of the book 21st Century U.S. Military Manuals: Air Force Handbook - Civil Engineer Camouflage, Concealment, and Deception Measures by Progressive Management
Cover of the book 21st Century U.S. Military Manuals: Aviation Brigades Field Manual 3-04.111 - Command and Control, Missions, Operations (Professional Format Series) by Progressive Management
Cover of the book 21st Century U.S. Military Manuals: U.S. Marine Corps (USMC) Marine Corps Operations MCDP 1-0 (Value-Added Professional Format Series) 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