1. Development in Latin America NS4540 Winter Term 2018 Capt Pat Beville

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

3. The Great Divergence

4. Economic Puzzle

5. 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 “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."

6. Closing the Gap

7. Commodity Dependence

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

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

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