• Overview Map

• Copy of Current (Spring 2021) Reading List

• Lecture Presentations

• Student Presentations

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

Supplemental Texts

• Inter-American Development Bank 2018 Macroeconomic Report, A Mandate to Grow

• Inter-American Development Bank 2019 Macroeconomic Report, Building Opportunities to Grow in a Challenging World

• Inter-American Development Bank 2020 Macroeconomic Report, Policies to Fight the Pandemic

• Inter-American Development Bank 2021 Macroeconomic Report, Opportunities for Stronger and Sustainable Postpandemic Growth

• 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

• Robert Looney ed., Handbook of Carribean Economies (London: Routledge, 2021). (Copy on Sakai) - chapter on each Caribbean economy

• Robert Looney ed., Handbook of International Trade Agreements (London: Routledge, 2019). (Copy on Sakai) - chapter on NAFTA, CAFTA-DR, CARICOM, Mexico's Approach to Preferential Agreements, MERCOSUR, The Pacific Alliance and ALBA

• 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)

• Peter Kingstone, The Political Economy of Latin America, Reflections on Neoliberalism and Development After the Commodity Boom, Second Edition, Routledge 2018 (Copy on Sakai)

Reference Works

• Basic Economics Concepts for those without a background in economics

• CEPAL Preliminary Overview of the Economies of Latin America and the Caribbean, February 2021

• CEPAL Social Panorama of Latin America, 2020

• CEPAL Social Panorama of Latin America, 2020 Data

• International Monetary Fund, Regional Outlook: Western Hemisphere: Pandemic Persistence Clouds the Recovery, October 2020

• International Monetary Fund, Regional Outlook: Western Hemisphere: Indicators, October 2020

• International Monetary Fund, Regional Outlook: Western Hemisphere: Data, October 2020

• OECD, Latin American Outlook: 2020

• UNCTAD, World Investment Report, 2020

• UNDP Human Development Report, 2020

• World Economic Forum, Global Competitiveness Report, 2019

Most Important Readings

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

• IMF, Missed Opportunities: The Economic History of Latin America -- Overview of our Text Book, October 5, 2017

• Oxford Analytica, Latin American Competitiveness Falls Behind East Asia, June 22, 2012 (Sakai under Resources Oxford Analytica

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

• Oxford Analytica, Latin America Risks another Lost Decade (Sakai--Resources--Oxford Analytica)

• RGE, Latin America: Weakening Institutions and Government Dissatisfaction Pose Risks to Recovery (Sakai under Resources - RGE - Latin America Weakening Institutions)

Other Readings

• Guillermo Ortiz, The Challenges to Achieving Sustainable Growth in Latin America, Brookings, 2014.
  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

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

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

Most Important Readings

• Armendariz and Larrain, Chapters 1, 2, 3, 4

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

• Robert Looney, Argentina's Dubious Boom, Foreign Policy, March, 2012 more recent example of import substitution.

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

• June Dreyer, The Belt, the Road, and Latin America, FPRI, January 16, 2019

For Class Discussion, April 20

• Poverty and Populism Put Latin America at the Center of the Pandemic, Financial Times, June 13, 2020 --in Sakai -- Resources-- Financial Times

• Latin American Political Risk Leaves Investors Wary, Financial Times, March 28, 2021 -- in Sakai -- Resources -- Financial Times

• Armendariz and Larrain, Chapters 5, 6

• Oxford Analytica, Covid will worsen Deocratic Deficit in South America, March 8, 2021 -- in Sakai, Resources - Oxford Analytica

• Economist Intelligence Unit, Politics, Populism and Policy: Operational Risk in Latin America, EIU March 17, 2021 in Sakai -- Resources- EIU - EIU-Operational Risk in Latin America

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

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

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

Most Important Readings

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

• 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

• 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

• 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

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

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

• Michael Spence, The Growth Report: Principal Findings and Recommendations, May 2008

• Armendariz and Larrain, Chapter 7 -- Fiscal policy

• Caribbean Outlook 2.0, ECLAC November 10, 2020

Mexico

Most Important

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

• Francisco Gonzalez, Mexico, Europa World Plus, Sakai Europa-LA-2021 folder

• Robert Looney, Making Mexico Great Again, Milken Institute Review, February 2019

Other Mexico Readings

• BMI Research, AMLO's Presidency: Shifting From Rhetoric to Policy, July 19, 2018

• Charting Mexico, 1Q 2019

• Gary Hufbauer and Euijin Jang, Nafta Under the Gun, Milken Institute Review, January 22, 2018

• 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

Cuba Most Important

• Richard Feinberg, The Cuban economy: Socialist stagnation with Caribbean characteristics, in Robert Looney ed., Handbook of Caribbean Economies in Sakai -- Supplemental Texts

• Richard Feinberg, Cuba's Economy After Raul Castro: A Tale of Three Worlds, Brookings February 2018

• Robert Looney, Socialist Cuba's Endgame, Milken Institute Review, October 16, 2018

• Robert Looney, Out of Benefactors From Abroad, Cuba Turns to its Caribbean Neighbors, World Politics Review, March 3, 2017 -- in Sakai in Resources, World Politics Review, WPR-Cuba.pdf

• 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, in Sakai under Europa Country Economic Overviews 2019

• 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, in Sakai under Europa Country Economic Overviews 2019

• Robert Looney, Nicaragua, History and Economy, in Sakai under Europa Country Economic Overviews 2019

• Robert Looney, Authoritarian Populism Loses its Glow in Nicaragua, Milken Institute Review, July 26, 2018

Panama

• Robert Looney, Panama, History and Economy, in Sakai under Europa Country Economic Overviews 2019

• Robert Looney, How Global Shifts Are Putting Costa Rica’s Economic Model Under Stress, World Politics Review, December 2016 in Sakai Resources WPR

• Robert Looney, Dollarization in Latin America, Milken Institute Review, 2017

• Robert Looney, El Salvador, History and Economy, in Sakai under Europa Country Economic Overviews 2019

Suriname Approaches IMF for Possible Financial Aid, Carobbean 360, January 31, 2016
• Robert Looney, Is Jamaica Poised for a Turn-Around? Foreign Policy, February 12, 2014

• Robert Looney "Why IMF-Driven Economic Reforms Paid Off for Jamaica This Time," World Politics Review, December 7, 2016 Update to the Jamaica Tuirn-Around paper (In Saiai in the World Politics Review tab)

• BTI Mexico Country Report, 2014

• Euler Hermes Mexico Country Report

• Mexico Country Report, Rabobank, October 30, 2014

• Mexico Shows resilience in a Complex Global Environment, IMF Survey, November 17, 2015 -- key challenge: fostering financial deepening while safeguarding financial stability

• IMF, Mexico Title IV Consultation November 2015

• Mexico energy law

• IMF Mexico Selected Issues, November 2014 -- Impacts of the energy reforms.

• Brookings, Mexico's Secondary Law Provices a Path Forward for New Investments in the Hydrocarbons Sector, June 25, 2014

• Brookings, How Much is Informality Holding Back Mexico's Economy? June 19, 2014

• Brookings, Mexico's Education Reforms and Latin America's Struggle to Raise Education Quality, January 23, 2014

Most Important Readings

• Armendariz and Larrain, Chapter 11 -- Labor Markets

• Robert Looney, Honduras, History and Economy, in Sakai under Europa Country Economic Overviews 2019

• Robert Looney, Panama, History and Economy, in Sakai under Europa Country Economic Overviews 2019

• IMF, Corruption, Violence and Economic Growth (Honduras), November 2016, pp. 12-18

• IMF, Migration and Remittances in Latin America, July 2017

• Robert Looney, Nicaragua, History and Economy, in Sakai under Europa Country Economic Overviews 2019

• IMF, Climate Change in Nicaragua, pp. 23-42, June 2017

• Robert Looney, Authoritarian Populism Loses its Glow in Nicaragua, Milken Institute Review, July 2018

• Robert Looney, Dollarization in Latin America (El Salvador and Ecuador), Milken Institute Review, 2017

• Oxford Analytica, Central America: Trump may trigger trade opportunities, January 5, 2017

• Oscar Martinez et.al., "Killers on a Shoestring: Inside the Gangs of El Salvador, New York Times, November 20, 2016

• Robert Looney, Migrants are the Symptom. Good Governance is the Cure, Foreign Policy March 2, 2016 -- in Sakai -- foreign policy tab Mainly about Honduras

• Robert Looney, The Panama Canal Expansion is a Risky Bet that Panama Didn't Need to Make, World Politics Review October 27, 2016 -- World Politics Review folder in Sakai

• Jose Miguel Cruz, The Root Causes of the Central American Crisis, Current History, February 2015
  IDB causes of emigration https://docs.wfp.org/api/documents/WFP-0000022124/download/?_ga=2.118363392.863695844.1549654128-496359020.1549654128
• IMF, 2014 Article IV Consultation El Salvador, current challenges and prospects

• Harold Trinkunas, Why is Honduras So Violent Brookings, October 1, 2015

• CRS Escalating Violence in El Salvador

• IMF, El Salvador Selected Issues -- potential output, diversification and investment drivers, November 25, 2014

• IMF Panama: Selected Issues, August 19, 2015 -- sections on Investment and Growth, and Energy and Growth

• Robert Looney, Daniel Ortega's Reality Check, Foreign Policy, January 10, 2013 -- Sakai Foreign Policy Tab

Other Readings

• World Bank, Why is Costa Rica Lagging Behind Puerto Rico? Chapter 8 in World Bank, Puzzles of Economic Growth in Sakai in the Texts folder

• Christine Wade, Unaccompanied Minors: Central America's Exodus Continues, World Politics Review, December 16, 2015

• Armendariz and Larrain, Chapter 9 -- Exchange Rates

• Mark Wilson, Guyana: Economy in Sakai in Resources, Europa Latin America 2019

• Robert Looney, For Lessons on How Not to Handle Its Oil-Rich Future, Guyana Can Look to Africa, World Politics Review, February 1, 2017 in Sakai in Resources, World Politics Review, WPR-Guyana-1

• Robert Looney, Guyana's Pending Oil Boom - or Bust, World Politics Review, February 4, 2019 in Sakai in Resources, World Politics Review, WPR-Guyana-2

• Robert Looney, Chavistanomics, Milken Institute Review Third Quarter 2007

• Robert Looney, Venezuela Sanctions in World Politics Review on Sakai

• Robert Looney, Venezuela Hyperinflation in World Politics Review on Sakai

• Robert Looney, Venezuela's Economic Collaple, Milken Institute Review, February 28, 2018

• Amy Myers Jaffe, No No Easy Path for Venezuela’s Oil in the Struggle for a Transition in Power, Council on Foreign Relations, January 28, 2019

• Michael McCarthy, Venezuela's Manmade Disaster, Current History, February 2017 -- Curent History folder in Sakai

• Albert Fishlow, Venezuela, The Curse of Oil-Stoked Populism, Letatum Institute, 2013

• World Bank, Why Has Venezuela's Economy Stagnated and Chile's Flourished? Chapter 7 in World Bank, Puzzles of Economic Growth in Sakai in the Texts folder

• Albert Fishlow, Brazil, Chapter 3 in Handbook of Emerging Economies

• Robert Looney, Brazil's Hard Road to Affluence, Milken Institute Review, Fourth Quarter 2016

• BNP Paribus, Brazil A Critical Turning Point Ahead, Fourth Quarter 2016

• Claudio Frischtak, Brazil: Demography, Technology, and All Other Things Considered, Brookings, Think Tank 20, soctober 2014

• EIU, Brazil's Political and Economic Outlook Under Dilma 2.0, October 2014

• Bringing Brazil's Economy Back to Life. Democracy Lab, October 2014

• Jonathan Tepperman, Brazil's Antipoverty Breakthrough: The Surprising Success of Bolsa Familia, New York Times, Foreign Affairs, January/February 2016

• Financial Times, Special Report on Brazil, 2015

Argentina

• Miguel Kiguel, Argentina: A Case of Reverse Convergence, Think Tank 20, October 2014 Section)

• Robert Looney, Argentina: Once More Into the Breach, Milken Institute Review, January 4, 2017

• Can the Right Save Argentina? Legathum Institute, December 11, 2015

• Albert Fishlow: Argantina

• Robert Looney, Argentina's Dubious Boom, Foreign Policy, March 15, 2012

• M. Victoria Murillo, Crtains for Argentina's Kirchner Era, Current History, February 2015
  http://www.milkenreview.org/articles/argentina-once-more-into-the-breach
• Domingo Cavalo, Argentina, Chapter 17 in Handbook of Emerging Economies

• Jonathan Gilbert, Argentina's New President Moves Swiftly to Shakew up the Economy, New York times, December 27, 2015

Uruguay

• Dutsche Bank, Uruguay, Frontier Market Report October 12, 2015

Other Readings

• Paul Kiernan, Brazil's Economic Crisis Beats Down the Emerging Middle Class, Wall Street Journal, November 9, 2015Brazil, Middle Class WSJ

Most Important Readings

Armendariz and Larrain, Chapter 8 -- Interior

http://www.dbresearch.com/PROD/DBR_INTERNET_EN-PROD/PROD0000000000375400/Bolivia.pdf
• Europa -- Bolivia Economy (on Sakai)
  http://www.milkenreview.org/articles/letter-from-bolivia
• After Riding the Commodities Boom, Bolivia Faces Stress of Falling Prices, World Politics Review, October 15, 2015

• Robert Looney, Populism in Bolivia, Foreign Policy February 26, 2013

• Nieves Zuniga and Paul Heywood, Cleaning up La Paz: How Bolivia's biggest city freed itself from a ubiquiteous culture of corruption, Foreign Policy September 2015

• Europa -- Paraguary Economy (on Sakai)
  https://www.stratfor.com/analysis/dark-pasts-and-bright-futures-paraguay
• IMF, Informality in Paraguay: Macro-Micro Evidence and Policy Implications, November 24, 2015

• IMF, 2014 Article IV Assessment of the Paraguayan Economy, February 2015

Armendariz and Larrain, Chapter 10 -- Trade and Financial Liberalization

• Oxford Analytica, Latin America: New Bloc Aims for Open Regionalism, May 23, 2013

Chile

• Patricio Navia, Chile, Chapter 12 in Handbook of Emerging Economies

• Robert Looney, Chile Falters," Milken Institute Review, December 2017

• Chile: economic reality holds back reforms, Rabobank, September 17, 2015

• Brookings, Chile -- Can Educational Reform Address Inequality and Middle Class Frustration? An Experiment in Chile, May 9, 2014

Peru

• Europa -- Pruvian Economy (on Sakai)

• Moises Arce, The Persistence of the Two Perus, Current History, February 2014

Ecuador

• Europa -- Ecuadorian Economy (on Sakai)

• Robert Looney, Dollarization in Latin America, Milken Institute Review, 2017

• IMF, Ecuador, Selected Issues, The Dollar and Financial Stability, October 2015

• Carolyn Cui and Manuela Badaway, Cheap Oil and Strong Dollar: Ecuador's Twin Problems, Wall Street Journal, November 23, 2015

Colombia

• Europa -- Colombian Economy (on Sakai)

• James Robinson, Colombia: Another 100 Years of Solitude? Current History, February 2013

• Eduardo Gomez, Smart Development: How Colombia, Mexico and Singapore Beat the BRICs, Foreign Affairs February 5, 2014

• Nake Kamrany, Laura Amey, et. al. Colombia, Chapter 24 in Handbook of Emerging Economies

Armendariz and Larrain, Chapter 12 -- Growth and Development in Latin America