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Beyond tradeoffs : market reforms and equitable growth in Latin America /
Nancy Birdsall, Carol Graham, and Richard H. Sabot, editors.
Washington, D.C. : Inter-American Development Bank : Brookings Institution Press, 1998.
[v], 367 p. : ill. ; 23 cm.
0815709218 (pbk.)
More Details
Washington, D.C. : Inter-American Development Bank : Brookings Institution Press, 1998.
0815709218 (pbk.)
general note
"The chapters draw on discussions at a conference sponsored by the IDB and the MacArthur Foundation, titled "Inequality-Reducing Growth in Latin America" held in Washington, D.C. in January 1997"--Foreword.
catalogue key
Includes bibliographical references.
A Look Inside
About the Author
Author Affiliation
Raquel Alfaro is Director of the Water and Sanitation Division of Senior Engineering Consultants, in Santiago, Chile. Nancy Birdsall is Executive Vice President of the Inter-American Development Bank. Ralph M. Bradburd is the David A. Wells Professor of Political Economy at Williams College in Massachusetts. John Briscoe is currently Senior Water Advisor at the World Bank. Michael R. Carter is Professor of Agricultural and Applied Economics at the University of Wisconsin-Madison. Jonathan Coles is Chair of Mavesa, a food manufacturer in Venezuela and the Andean Region. Rene Cortazar is the Executive Director of National Television of Chile. Michael Gavin is Lead Research Economist in the Office of the Chief Economist at the Inter-American Development Bank. Carol Graham is Senior Fellow in Foreign Policy Studies and co-director of the Center on Social and Economic Dynamics at the Brookings Institution. Ricardo Hausmann is Chief Economist of the Inter-American Development Bank. Enrique V. Iglesias is President of the Inter-American Development Bank. Estelle James is Lead Economist for the Policy Research Department at the World Bank. Juan Luis Londono, a social policy entrepreneur, is President of Poder and Dinero, Colombia's leading business magazine. Eduardo Lora is Senior Research Economist at the Inter-American Development Bank. Nora Lustig is currently Senior Advisor and Chief of the Poverty and Inequality Advisory Unit at the Inter-American Development Bank. Moises Naim is the Editor of Foreign Policy magazine. He was formerly Venezuela's Minister of Trade and Industry, and has served at the World Bank as a executive director and senior adviser to its president. Richard H. Sabot is the John J. Gibson Professor of Economics at Williams College in Massachusetts. Liliana Rojas-Suarez is presently Chief Economist for Latin America at Deutsche Morgan Grenfell, New York. John B. Sheahan is the William Brough Professor of Economics, Emeritus, at Williams College in Massachusetts. Joseph E. Stiglitz is currently Senior Vice President for Development Economics and Chief Economist at the World Bank. Steven R. Weisbrod is a private consultant on banking and financial issues in emerging markets. He earned a Ph.D. in economics from the University of Chicago.
Full Text Reviews
Appeared in Choice on 1999-07-01:
Challenging the view that efforts directed toward achieving greater equity are likely to slow economic growth, contributors to this volume argue for a "Latin consensus" on a new round of reforms in Latin America centered on reducing the region's wrenching inequality. The 12 chapters, all written by leading scholars, begin from the notion that there is virtuous inequality (that which provides incentives) and detrimental inequality (that which saps productivity and creativity). Too much inequality slows economic growth, especially when it prevents large numbers of citizens from becoming more educated, from undertaking training, or from otherwise investing in their futures. With chapters on the labor market, human capital, pension reform, agriculture, financial markets, and the constructive role of the state in contributing to growth-enhancing, inequality-reducing efforts, this Inter-American Development Bank-sponsored study is a sustained and reasoned examination of how specific policies to promote greater equity contribute to higher levels of economic growth. It clearly makes the case that, by virtue of the democratic transition and economic reforms since the 1980s, Latin America is poised to move to the next level of more equitable, sustained economic and social development. This is a must read. Upper-division undergraduate through professional collections. J. L. Dietz California State University, Fullerton
This item was reviewed in:
Choice, July 1999
Reference & Research Book News, February 2000
To find out how to look for other reviews, please see our guides to finding book reviews in the Sciences or Social Sciences and Humanities.
Unpaid Annotation
Latin American income distribution is among the most unequal in the world. Both the poor and the wealthy have paid a price for this inequality, which is in part responsible for the region's low growth rates. The essays in this book propose new ways of reducing inequality, not by growth-inhibiting transfers and regulations, but by enhancing efficiency -- eliminating consumption subsidies for the wealthy, increasing the productivity of the poor, and shifting to a more labor and skill-demanding growth path. In Beyond Tradeoffs, Latin American experts demonstrate how market-friendly measures in key policy areas can simultaneously promote greater equity and greater efficiency. By identifying win-win strategies, the authors challenge the conventional wisdom that there is always a tradeoff between these two objectives. Extensive macroeconomic reforms in the region have provided opportunities to implement such strategies across many sectors. The volume aims at building a "Latin consensus" on a second round of reforms -- reforms that address the urgent issue of inequality without undermining efficient growth. Contributors include Jonathan Coles, Rene Cortazar, Ricardo Hausmann, Juan Luis Londoqo, Nora Lustig, Moises Namm, and Joseph Stiglitz. Copublished with the Inter-American Development Bank
Table of Contents
Forewordp. v
Virtuous Circles in Latin America's Second Stage of Reformsp. 1
Referencesp. 25
Kinds and Causes of Inequality in Latin Americap. 29
Endnotesp. 54
Referencesp. 56
Structural Reforms and Equityp. 63
Endnotesp. 87
Referencesp. 88
Growth with Equity; the Volatility Connectionp. 91
Conclusionp. 104
Endnotesp. 105
Referencesp. 107
No Tradeoff: Efficient Growth Via More Equal Human Capital Accumulationp. 111
Endnotesp. 141
Referencesp. 143
Inequality-Reducing Growth in Agriculture: a Market-Friendly Policy Agendap. 147
Endnotesp. 176
Referencesp. 179
Economic Policy and Labor Market Dynamicsp. 183
Endnotesp. 205
Referencesp. 210
Equity Benefits from Financial Market Reformsp. 213
Supply and Demand for Banking Productsp. 250
Referencesp. 252
Pension Reform: an Efficiency-Equity Tradeoff?p. 253
Conclusionp. 270
Referencesp. 272
Reforming Former Public Monopolies: Water Supplyp. 273
Conclusionp. 297
Endnotesp. 298
Referencesp. 302
Inequality and Growth: Implications for Public Finance and Lessons from Experience in the United Statesp. 305
Conclusionp. 313
Endnotesp. 315
Referencesp. 318
the Political Economy of Institutional Reform in Latin Americap. 321
Appendix: Approaches to the Study of Institutionsp. 343
Endnotesp. 352
Referencesp. 360
List of Authorsp. 363
Table of Contents provided by Publisher. All Rights Reserved.

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