• Overview Map

• Copy of Current (Winter 2017) Reading List

• Lecture Presentations

• Why Military Officers Should Study Political Economy (NDU September 2014)

Supplemental Texts

• Ricardo Bielschowsky, ECLAC Thinking: Selected Texts (1948-1998), CEPAL December 2016

• CEPAL Preliminary Overview 2017

• CEPAL, Horizons 2030: Equality at the Center of Sustainable Development, May 2016

• CEPAL, Horizons 2030: Equality at the Center of Sustainable Development, Summary May 2016

• Think Tank 20, Growth Convergence and Income Distribution: The Road from the Brisbane G-20 Summit, Brookings Institution, November 2014

• Inter-American Development Bank 2016 Macroeconomic Report, Time to Act, 2016

• Javier Reyes and Charles Sawyer, Latin American Economic Development, second edition (London: Routledge, 2015). (Copy on Sakai)

• Robert Looney ed., Handbook of Emerging Economies (London: Routledge, 2014). (Copy on Sakai) - chapters on Brazil, Argentina, Chile, Mexico and Colombia

• Robert Looney ed., Handbook of Transitions to Energy and Climate Security (London: Routledge, 2017). (Copy on Sakai) - chapter on Energy Security in Central America and the Caribbean

• Leszek Balcerowicz and Andrej Rzonca eds, Puzzles of Economic Growth (Washington: World Bank, 2015) Case studies Costa Rica and Puerto Rico, Mexico and Spain, Haiti and the Dominican Republic, and Chile and Venezuela. (Copy on Sakai)

Reference Works

• Data/Overviews/Current Issues

• Basic Economics Concepts for those without a background in economics

• World Bank, Global Economic Prospects: Latin America and the Caribbean, June 2016
  International Monetary Fund, Latin America Regional Outlook, October 2016
  International Monetary Fund, Latin America Regional Outlook, April 2016

Country Data

• National Statistical Offices
• UNCTAD Official Sources of Country Data
• Michigan State Listing of Official Country Data Sources
• Michigan State Individual Country Data
• World Bank Country Data

Most Important Readings

• Jose Antonio Ocamapo, Uncertain Times: After a decade of social and economic progress, Latin America is facing challenging issues, Finmance & Development September 2015

• Reyes and Sawyer, Chapter 1 Latin America in the World Economy (Sakai)

• Oxford Analytica, Latin America, Falling Behind East Asia, June 22, 2012

• Oxford Analytica, Latin America: Recovery Will Prove Elusive in 2016, December 30, 2015

• Oxford Analytica, Latin America: Employment Will Not Pick up in 2016, December 3, 2015

Current Events for Discussion

• Moises Naim, The Coming Turmoil in Latin America, Carnegie, October 8, 2015

• IMF, Latin America: New Challenges to Growth and Stability, 2015 -- big picture -- develops many themes we will be looking at in the first part of the class

• "10 Most Important Latin American Stories in 2017" Forbs, December 27, 2016

Other Readings

• Anthony Elson, The Economic Growth of East Asia and Latin America in Comparative Perspective: Lessons for Development Policy, World Economics, April-June 2006

• Uri Dadush, Key Trends in the World Economy, Chapter 2 in Handboook of Emerging Economies (on Sakai)

• B. Higgins, Chapter 3, The Classical Theory of Growth

• B. Higgins, Chapter 4, The Marxian Theory of Growth

• B. Higgins, Chapter 5, The Schumpeterian Theory of Economic Growth

• Reyes and Sawyer, Chapter 3 Economic Growth in Latin America -- Sources of Growth (Sakai)

• Guillermo Ortiz, The Challenges to Achieving Sustainable Growth in Latin America, Think Tank 20, October 2014

Other Readings -- Recent Applications of Main Concepts

• Edmund Phelps, Tangible Investment as an Instrument of Growth(optional -- mathmatical) -- very good summary of the neo-classical model

• David Gold and Roy Ruffin, What Determines the Rate of Growth? (Federal Reserve Bank of Dallas, Economic Review, 1993) -- best overview of the new theories, but a little mathmatical

• Latin America's Smooth Economic Ride Jeopardized by Commodity Crisis, Economy Watch, January 14, 2016
  Recent Marxist Themes. Robert Looney, Review of Naomi Klein, The Shock Doctrine: the Rise of Disaster Capitalism, Reviewed for Gulf Research Center, October 2007

• Oxford Analyticia, International: Demographic Dividend is Not Guaranteed, November 30, 2010 (Classicals)

• Economic Convergence: Ten years ago developing countries were catcing up with developed ones remarkably quickly. It was an aberration, The Economist September 13, 2014

• Kemal Dervis and Homi Khares, Growth Convergence and Income Distribution: An Introduction, Think Tank 20 2014 (just page 1-3 -- will read the rest later)

• Carlise Runge, Against the Grain, Foreign Affairs, January/February 2010 (Classicals)

• Oxford Analytica, Brazil: Demographic Dividend Will Not Last, May 23, 2011

Current Events for Discussion

Most Important Readings

• Jose De Gregorio, From Rapid Recovery to Slowdown: Why Recent Economic Growth in Latin America Has Been Slow, Peterson Institute for International Economics April 2015

• Diane Coyle, Beyond GDP: What the measure of economic performance misses about economic performance, Foreign Affairs February 16, 2014

• Nora Lustig, Most Unequal on Earth: Latin America is a region of stark income contrasts, but has been making progress, Finance & Developmnet, September 2015

• Latin America: Progress through populist policies? A mixed pecture, Rabobank, September 28, 2015

• IMF, Inclusive Growth, Institutions and the Underground Economy, February 2012

• World Bank, Regional Profile of Doing Business in Latin America, 2016 -- just look through

• Heritage House, Global and Regional Trends in Economic Freedom, Chapter 6 has sections on Latin Ameria and the Caribbean

• Oxford Analytica, Governance Indicators Hide Risks, January 27, 2016

Other Readings

• Oxford Analytica, International: Economic Measurement Faces Huge Changes, January 2, 2015

Various Measures of Progress/Well-Being

• Legatum Prosperity Index, 2016

• The Wealth of Nations, The Economist, June 5, 2012

• OECD Better Life Index

• Yale, Environmental Performance IndexOECD Better Life Index

• Milken Institute Global Opportunity Index, June 2015

Current Events for Discussion

• World Economic Forum, How Can Latin America Avoid Being Left Behind? January 18, 2016

• Jose De Gregorio, Latin America: From Recovery to Slowdown, World Economics, December 2015 -- good preentation of recent data

Indexes to look over

• Heritage House Economic Freedom Data year-by-year

• Frasier Institute Economic Freedom Graphic 1970-2014

• Transparency International, Corruption Perceptions Index 2011 (look over)

• Failed State Index 2008 (look over).

• World Bank Governance Indicators, 2014

• UNDP, Human Development Report, 2014

• Legatum Institute, Prosperity Index, 2014

• World Economic Forum Competitiveness Index, 2014-15

• Milken Global Opportunity Index, 2013 (with video)

• EIU, Business Environment Rankings: Which Country is Best to Do Business In, 2014

• World Economic Forum Human Capital Report, 2013

• EIU Food Security Index, 2014

Current Events for Class Discussion -- Two articles that may have a number of implications for Latin America

• Mohamed A. El Erian, Trump"s Economic Approach Starts to Take Shape, Bloomberg, January 26, 2017

• Robert Looney, Trump's Supply-Side Economics Have Little Chance of Working in 2017, World Politics Review, December 28, 2016 -- in the World Politics Review Tab on Sakai

• Neil Irwin, What is NAFTA and how might Trump change it? New York Times, January 25, 2017

• Jose Ocampo, Will Trump Block Latin America's Recovery? Project Syndicate, January 24, 2017

Most Important Readings

• E. Wayne Nafziger, Chapter 5, Theories of Economic Development -- Just sections starting with Rostow Theory of Growth and through Application of the Lewis Fei Ranis model to Japan and the Neoclassical Counter-revolution

• Jeffrey Sachs, Stages of Economic Development, June 2004

• Michael Porter, Enhancing the Microeconomic Foundations of Prosperity: The Current Competiveness Index

• Xavier Sala-I-Martin et al., The Global Competitiveness Index: Measuring the Productive Potential of Nations, World Economic Forum, 2007

• Ernesto Talvi, Latin America's Decade of Development-less Growth, Think Tank 20, October 2014

• Rabobank, Latin America: Locked up in the middle income trap, Rabobank, September 2015

• St. Louis Federal Reserve Bank, Regional Economist, Trapped, Few Developing Countries Can Climb the Economic Ladder or Stay There, October 2015

• IMF, Economic Complexity and Long-Term Growth in Latin America

Other Readings

• B. Higgins, Chapter 14, Interaction of Modern and Traditional Sectors -- covers some of the material lin Nafziger

• B. Higgins, Chapter 15, Balanced/Unbalanced Growth -- covers some of the material in Nafziger

• Dani Rodrik, Diagnosis Before Prescription, Journal of Economic Perspectives, Summer 2010

• Ricardo Hausman, Getting the Diagnosis Right, Finance and Development, March 2006

• Oxford Analytica, International: Development Strategies Face Rethink, February 26, 2008

For Discussion

Frida Ghitis, Why Trump's Rise is Sending Latin America into China's Arms, World Policy Review, Februay 2, 2017 -- in WPR Tab in Sakai

• Donald Trump’s tough talk will not bring US jobs back: China played an insignificant role in the decline of manufacturing Financial Times February 1,2017

• Robert Looney, How Global Shifts are Putting Costa Rica's Economic Model Under Stress, World Policy Review December 7, 2016 -- in the World Politics Review tab in Sakai

• Reyes and Sawyer, Chapter 13 Latin American Policy Debates --- briel overview of main debates (Sakai)

• Cristobal Kay, Structuralism in Routledge Handbook of International Political Economy

• Robert Looney, Neo-Liberalism in Routledge Handbook of International Political Economy

• John Williamson, Keys to Success: The Beijing or Washington Consensus, Chapter 9, Handbook of Emerging Economies (Sakai)

• Reyes and Sawyer, Chapter 5 Primary Commodities (Sakai)

• IDB Latin American Trade Patterns 2016

• Reyes and Sawyer, Chapter 6 Import Substitution (Sakai)

• Import Substitution Case Study: Chilean Automotive Industry -- Very good example of what can go wrong

• Henry Bruton, Productivity Growth in Latin America (American Economic Review (December 1967)-- mathematical will summarize. Classic study on import substitutiion using the neo-classical model

• Reyes and Sawyer, Chapter 8 Exchange Rate Policy (Sakai)

• Reyes and Sawyer, Chapter 9 Financing Current Account Deficits (Sakai)

• Reyes and Sawyer, Chapter 10 Macroeconomic Policies (Sakai)

Governance

• Daniel Kauffman, Corruption Matters: Governance has progressed in a few Latin American countries, but corruption still hinders development in the region Finance & Developmnet, September 2015

• Jorge Castaneda, Latin American's Stand up to Corruption, Foreign Affairs, January/February 2016

Defense Expenditures in Latin America

SIPRI Trends in World Military Expenditures, 2015
Robert Looney, Military Expenditures in Latin America: Patterns of Budgetary Tradeoffs, Journal of Economic Development July 1986
Robert Looney and Peter Frederiksen, "Economic Determinants of Latin American Defense Expenditures, Armed Forces and Society Spring 1988
Robert Looney and Peter Frederiksen, "The Effectof Declining Military Influence on Defense Budgets in Latin America" Armed Forces and Society, Spring 2000

China in Latin America

• Ted Biccone, The Geopolitics of China's Rise in Latin America, Brookings, November 2016

• Harold Trinkunas, Renminbi Deplomacy in Latin America, Brookings, November 2016

Other Readings

• Francisco Rodriquez, The Political Economy of Latin American Economic Growth, World Bank

• Armando Di Filippo, Latin American Structuralism and economic Develoment, CEPAL Review, August 2009ism

• Vincent Ferraro, "Dependency Theory: An Introduction In the Development Economics Reader, 2008

• Manuelito, Sandra; Jiménez, Luis Felipe, Stylized features of the investment-growth connection in Latin America, 1980-2012, CEPAL Review, April 2015

Latin America Overview

• Wharton outlook for Latin America in 2017, January 2017

Mexico

• Francisco Gonzalez, Mexico, Chapter 15 in Handbook of Emerging Economies -- Supplemental Texts in Sakai

• Francisco Gonzalez, Mexico, Europa World Plus, Sakai Europa-LA-2016 folder
  Possible NAFTA Chanages https://www.nytimes.com/interactive/2017/upshot/what-is-nafta.html?_r=0
• Moises Naim, Good Mexico vs Bad Mexico, Carnegie, November 19, 2014

• Robert Looney, Give Mexico a Chance, Foriegn Policy, July 16, 2012 -- in Sakai, Foreign Policy folder -- Mexico Reforms

• Robert Looney, Can Mexico Cope With Trump? Foriegn Policy December 7, 2016 -- Sakai, Foreign Policy folder

  RGE, Hawkish Banxico Raises Mexican Growth Risks, December 22, 2016 -- Sakai, Roubini Global Economics Folder

Other Readings

• World Bank, Why is Mexico Poorer than Spain?, Chapter 6 in World Bank, Puzzles of Economic Growth in Sakai in the Supplemental Texts folder -- World Bank Puzzles of Ecconomic Growth

• Robert Looney, Mexico on the Ropes, Milken Institute Review, Second Quarter 2011

• Pamela Starr, Mexico's Problematic Reforms, Current History, February 2014

• Adrian Lajous, Mexican Energy Reform, Colombia Center on Global Energy Policy, June 2014

Cuba

• Brookings, Ten Economic Facts About Cuba, July 17, 2015
  Emily Morris, The Road Ahead for Cuba, Foreign Affairs, January 2, 2017
  Ted Henken, Overcoming Cuba's Internal Embargo, Current History, February 2015

• Richard Feinberg, Brookings, Cuba's Foreign Investment Invitation: Insights into Internal Struggles

• Richard Fineberg and Ted Piccone, Cuba's Economic Change in Comparative Perspective, November 6, 2014

Puerto Rico

• Robert Looney, Austerity in the Tropics: Is Puerto Rico the New Greece? The Milken Institute Review, Fourth Quarter 2014

• Robert Looney, Puerto Rico History and Economy, Sakai, Europa 2016 folder

• Desmnond Lachman, Puerto Rico's Real Problem, American Enterprise Institute, January 29, 2016

Dominican Republic/Haiti

• World Bank, Why is Haiti Poorer than the Dominican Republic, Chapter 9 in World Bank, Puzzles of Economic Growth in Sakai in the Texts folder

• Robert Looney, Dominican Republic, History and Economy, Europa folder on Sakai

• Robert Looney, Haiti, History and Economy, Europa folder on Sakai

• Robert Looney, Finally, Good News from Haiti, Foreign Policy May 3, 2013