Development in Latin America NS4540 Winter Term 2018 Capt Pat Beville

Outline Introduction The Great Divergence The Industrial Revolution Major Developmental Theories Conclusion

The Great Divergence

Economic Puzzle

Explaining Poverty Geography Culture Colonial Legacy Diamond, Jared M. Guns, Germs, and Steel: the Fates of Human Societies. Culture Landes, David S. Wealth and poverty of nations. Colonial Legacy Sokoloff, Kenneth L., and Stanley L. Engerman. "Institutions, factor endowments, and paths of development in the new world." J Colonial Overexploitation Bruhn, Miriam and Francisco Gallego. 2010. “Good, Bad, and Ugly Colonial Activities: Do They Matter for Economic Development?” Colonial Underexploitation G. B Kay, Development and Underdevelopment: A Marxist Analisys Colonial Masters Grier, Robin M. "Colonial legacies and economic growth." Agricultural Endowment Economic Institutions Acemoglu, Daron, Simon Johnson, and James A. Robinson. "Institutions as a fundamental cause of long-run growth."

Closing the Gap

Commodity Dependence

The Industrial Revolution Rule of Law Restrained Bureaucratic Capacity Access to Capital

Closing the Gap Form Vs. Function Germany Japan The Asian Tigers

Closing the Gap v.2 Rule of Law Restrained Bureaucratic Capacity Access to Capital - Foreign Aid