Latin America After the Financial Crisis : Economic Ramifications From Heterodox Perspectives

Latin America was one of the regions least affected by the global financial crisis of 2008. During this time of widespread economic downfall, Latin America continued to achieve an annual growth rate of around 5%. Latin America after the Financial Crisis explains how the global financial crisis affected the region and why it was not as severe as other crises in the past. The collection covers data from Argentina, Brazil, Chile, Colombia, Cuba, Mexico, and Venezuela, and demystifies the impact of the crisis on the accumulation path of the region without losing sight of each country's particularities. Each country is analyzed by leading specialized and heterodox researchers who have vast experience in the field and who use an array of heterodox perspectives, from Keynesian to Kaleckian and Marxian to Sraffian. Front Matter....Pages i-x Introduction....Pages 1-4 The Global Crisis: Causes and Main Theoretical Explanations....Pages 5-32 The Global Crisis and Its Effects on the Accumulation in Argentina....Pages 33-58 The Impact of the Global Economic Crisis on Brazil from 2008 to the Present....Pages 59-86 Boom and Bust in Colombia 1990–2013....Pages 87-115 The Global Crisis and the Chilean Economy....Pages 117-140 The Impact of the Global Post-2007 Economic Crisis and Subsequent Lethargic Performance on Cuba’s Economy....Pages 141-163 The Structural Causes of the Severity of the World Crisis in Mexico....Pages 165-191 Venezuela and the International Crisis....Pages 193-227 The Aftermath of the Global Crisis in Latin America: General Remarks and Future Perspectives....Pages 229-248 Back Matter....Pages 249-255 Cover 1 Half-Title 2 Series 3 Title 4 Copyright 5 Contents 6 List of Illustrations 8 1 Introduction 12 2 The Global Crisis: Causes and Main Theoretical Explanations 16 3 The Global Crisis and Its Effects on the Accumulation in Argentina 44 4 The Impact of the Global Economic Crisis on Brazil from 2008 to the Present 70 5 Boom and Bust in Colombia 1990–2013 98 6 The Global Crisis and the Chilean Economy 127 7 The Impact of the Global Post-2007 Economic Crisis and Subsequent Lethargic Performance on Cuba’s Economy 151 8 The Structural Causes of the Severity of the World Crisis in Mexico 174 9 Venezuela and the International Crisis 201 10 The Aftermath of the Global Crisis in Latin America: General Remarks and Future Perspectives 236 List of Contributors 256 Index 257 Economists analyze seven Latin American countries to explore why the region was not as severely affected by the 2008 financial crisis as it had been by other crises in the past