José Antonio Ocampo

In many emerging economies, impressive progress in reducing poverty has been overshadowed by persistent inequality and growing frustration with political elites. This widespread social discontent has driven governments to respond with short-term policies aimed at increasing equity that run the risk of jeopardizing long-term development. Is it possible to build fairer societies without undermining economic growth? From Equity to Growth explores this dilemma, offering new perspectives on one of the defining challenges of the era. Combining economic theory, political analysis, and real-world case studies, the book contrasts two potential outcomes. In one, poorly designed redistributive policies distort markets, weaken institutions, and trap countries in middle-income stagnation. In the other, well-crafted equity strategies boost investment, strengthen institutional trust, and spur sustainable development. Rejecting simplistic binaries between equity and growth, the authors argue that inclusive development is not only possible but essential. They highlight specific policy choices that can reconcile social demands with macroeconomic stability, providing a road map to escape the middle-income trap without sacrificing fairness. Clear, timely, and rigorous, From Equity to Growth offers both a diagnosis of many countries’ current predicament and a hopeful vision of how to move forward.

The reform of the international financial and tax systems has been at the center of global debates in recent years –in the United Nations, the World Bank, the International Monetary Fund, the OECD and the G20. The fourth United Nations Conference on Financing for Development that will take place in Spain in 2025 also represents a great opportunity to enhance global cooperation in this area. This Element analyzes six elements of the global financing for development agenda, which are dealt with in individual sections: the role and evolution of development financing; the international monetary system; sovereign debt restructuring; international tax cooperation; international trade; and critical institutional issues. Although focusing on the international agenda, many of these issues have domestic implications for developing countries. The analysis covers both the nature of cooperation and recommendations on how to improve it. This title is also available as Open Access on Cambridge Core.

The reform of the international financial and tax systems has been at the center of global debates in recent years –in the United Nations, the World Bank, the International Monetary Fund, the OECD and the G20. The fourth United Nations Conference on Financing for Development that will take place in Spain in 2025 also represents a great opportunity to enhance global cooperation in this area. This Element analyzes six elements of the global financing for development agenda, which are dealt with in individual sections: the role and evolution of development financing; the international monetary system; sovereign debt restructuring; international tax cooperation; international trade; and critical institutional issues. Although focusing on the international agenda, many of these issues have domestic implications for developing countries. The analysis covers both the nature of cooperation and recommendations on how to improve it. This title is also available as Open Access on Cambridge Core.

This is an open access title available under the terms of a CC BY-NC-SA 3.0 IGO licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. International financial crises have plagued the world in recent decades, including the Latin American debt crisis of the 1980s, the East Asian crisis of the late twentieth century, and the global financial crisis of 2007-09. One of the basic problems faced during these crises is the lack of adequate preventive mechanisms, as well as insufficient instruments to finance countries in crisis and to overcome their over-indebtedness. Resetting the International Monetary (Non)System provides an analysis of the global monetary system and the necessary reforms that it should undergo to play an active role in the twenty-first century and proposes a comprehensive yet evolutionary reform of the system. Criticising the ad hoc framework- a "(non)system"- that has evolved following the breakdown of the Bretton Woods arrangement in the early 1970's, Resetting the International Monetary (Non)System places a special focus on the asymmetries that emerging and developing countries face, analysing the controversial management of crises by the International Monetary Fund and proposing a consistent set of reform proposals to design a better system of international monetary cooperation. Policy orientated and structured to deal in a sequential way with the issues involved, it suggests provision of international liquidity through a system that mixes the multicurrency arrangement with a more active use of the IMF's Special Drawing Rights; stronger mechanisms of macroeconomic policy cooperation, including greater cooperation in exchange rate management and freedom to manage capital flows; additional automatic balance-of-payments financing facilities and the complementary use of swap and regional arrangements; a multilateral sovereign debt workout mechanism; and major reforms of the system's governance.

Este libro es un tributo que un grupo de amigos rinde a Enrique Iglesias. Por sus funciones y acciones, Enrique se convirti hace ya d cadas en un reconocido y muy valorado ciudadano latinoamericano que durante toda su carrera profesional ha hecho importantes aportes al desarrollo y la democracia en la regi n, adem s de ser un puente entre ella y el resto del mundo. Su trayectoria profesional ha sido muy destacada: Presidente del Banco Central y Ministro de Relaciones Exteriores de Uruguay, Secretario Ejecutivo de la Comisi n Econ mica para Am rica Latina y el Caribe, Presidente del Banco Interamericano de Desarrollo y, hasta hace unas semanas, Secretario General de la Secretar a General Iberoamericana. Como bien se al Enrique Garc a en la presentaci n de la edici n preliminar denominada "Cero" en Madrid el 20 de mayo de 2014, publicada por la CAF- Banco de Desarrollo de Am rica Latina: Esta publicaci n es un merecido tributo a un ciudadano latinoamericano que ha puesto su vida e ideas al servicio de Am rica Latina, defendiendo sus m s altos intereses para asegurar el cumplimiento del sue o que ha guiado a generaciones y que se sintetiza en una trilog a virtuosa: democracia, desarrollo sostenible e integraci n.

Latin America is attracting increasing interest due to the strong economic performance of the last decade and to the political changes that are taking place. This book gives a unique, comprehensive, and up to date view of Latin America economic development over the two centuries since Independence. It considers Latin American economies within the wider context of the international economy, and covers economic growth, international trade, capital flows, and trends in inequality and human development. With chapters that cover different eras, it traces the major developments of Latin American countries and offers a novel and coherent interpretation of the economic history of the region. It combines a wealth of original research, new perspectives, and empirical information to provide a synthesis of the growing literature that both complements and extends previous studies.

Latin America is attracting increasing interest due to the strong economic performance of the last decade and to the political changes that are taking place. This book gives a unique, comprehensive, and up to date view of Latin America economic development over the two centuries since Independence. It considers Latin American economies within the wider context of the international economy, and covers economic growth, international trade, capital flows, and trends in inequality and human development. With chapters that cover different eras, it traces the major developments of Latin American countries and offers a novel and coherent interpretation of the economic history of the region. It combines a wealth of original research, new perspectives, and empirical information to provide a synthesis of the growing literature that both complements and extends previous studies.

Consisting of country case studies and comparative analyses from Latin American and US based political economists, this volume examines the recent history of foreign investment for development in Latin America in the context of the current backlash against ‘Washington Consensus’ policies. These essays form the broad conclusion that foreign direct investment fell far short of generating the necessary linkages for sustainable economic development.

Economic structuralists use a broad, systemwide approach to understanding development, and this textbook assumes a structuralist perspective in its investigation of why a host of developing countries have failed to grow at 2 percent or more since 1960. Sensitive to the wide range of factors that affect an economy's strength and stability, the authors identify the problems that have long frustrated growth in many parts of the developing world while suggesting new strategies and policies to help improve standards of living. After a survey of structuralist methods and post-World War II trends of global economic growth, the authors discuss the role that patterns in productivity, production structures, and capital accumulation play in the growth dynamics of developing countries. Next, it outlines the evolution of trade patterns and the effect of the terms of trade on economic performance, especially for countries that depend on commodity exports. The authors acknowledge the structural limits of macroeconomic policy, highlighting the negative effects of financial volatility and certain financial structures while recommending policies to better manage external shocks. These policies are then further developed through a discussion of growth and structural improvements, and are evaluated according to which policy options-macro, industrial, or commercial--best fit within different kinds of developing economies.

Consisting of country case studies and comparative analyses from Latin American and US based political economists, this volume examines the recent history of foreign investment for development in Latin America in the context of the current backlash against ‘Washington Consensus’ policies. These essays form the broad conclusion that foreign direct investment fell far short of generating the necessary linkages for sustainable economic development.

There is growing dissatisfaction with the economic policies advocated by the IMF and other international financial institutions - policies that have often resulted in stagnating growth, crises, and recessions for client countries. This book presents an alternative to "Washington Consensus" neo-liberal economic policies by showing that both macro-economic and liberalization policy must be sensitive to the particular circumstances of developing countries. One-size-fits-all policy prescriptions are likely to fail given the vast differences between countries. This book discusses how alternative approaches to economic policy can better serve developing countries both in ordinary times and in times of crisis.

The papers included in this book cover different aspects of the governance of the Bretton Woods institutions. They explore different options for reform and show that enhancing the participation of developing and emerging market countries in resolving the major monetary and financial problems confronting the world economy, would improve global economic performance and contribute to the elimination of world poverty.