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Capital Movements and Corporate Dominance in Latin America

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Capital Movements and Corporate Dominance in Latin America

Reduced Growth and Increased Instability

9781800372139 Edward Elgar Publishing
Edited by Noemi Levy-Orlik, Senior Professor, Economic Faculty, Jorge Alonso Bustamante-Torres, Associate Professor, FES Acatlán, Universidad Nacional Autónoma de México, Mexico City, Mexico and Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Co-Editor of Review of Political Economy and Founding Editor Emeritus, Review of Keynesian Economics
Publication Date: June 2021 ISBN: 978 1 80037 213 9 Extent: c 352 pp
This book addresses the problems of Latin America, through two of the most important features of the post-Bretton Woods economic order, large corporations and weak financial markets. In turn, it shows that their impact on economic growth and development is feeble and short-lived. This resulted in income concentration and an extremely unequal distribution of wealth in the region. 

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This book addresses the problems of Latin America, through two of the most important features of the post-Bretton Woods economic order, large corporations and weak financial markets. In turn, it shows that their impact on economic growth and development is feeble and short-lived. This resulted in income concentration and an extremely unequal distribution of wealth in the region. 

As a result, large corporations and financial markets became central institutions in developing economies. In this context, Latin American countries globalized their economies, modifying their productive and financial structures and strengthening large corporation and non- financial structures.

This economic order was a failure, as it was unable to achieve development in Latin America; large capital corporations either re-primarized their productive activity or developed an organization based on assembly manufacture, and, as such, financial markets remained underdeveloped because large corporations did not operate through domestic financial markets.

In this book, the effects of these trends are analyzed in regional and country studies, while the impact of the 2008 Great Financial Crisis on Latin American economies are also considered.

Researchers and students, especially those interested in a Post-Keynesian or heterodox view of the region, will find these studies illuminating.
Critical Acclaim
‘Cross-border capital movements and the operations of corporations have major effects on the economic and social paths of developing and emerging economies. This wide-ranging collection of insightful essays brings us knowledge and understanding of the many important dimensions by which globalised financialisation has dominated Latin American economies.’
– Malcolm Sawyer, Emeritus Professor of Economics, University of Leeds, UK
Contributors
Contributors: C. Allami, B. Bonizzi, P. Bortz, J. Bustamante, A. Cibils, J. Churchill, G. Combita-Mora, G. Dymski, X. Echenique-Romero, N. Favreau-Negront, A. Garay-Huaman, A. Kaltenbrunner, N. Levy, Á.M. Moreno-Rivas, S. Ortiz-Velásquez, J.P. Painceira, E. Pérez-Caldentey, L.P. Rochon, G.A. Salazar, A. Saludjian, M. Shabani, H. Szymborska, J. Toporowski, M. Varela-Enriquez, N. Cerpa-Vielma

This title is available for institutional purchase via Elgaronline.

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