The First Export Era Revisited: Reassessing its Contribution to Latin American Economies (Palgrave Studies in Economic History)

"This book challenges the wide-ranging generalizations that dominate the literature on the impact of export-led growth upon Latin America during the first export era. The contributors to this volume contest conventional approaches, stemming from structuralism and dependency theory, which portray a rather negative view of the impact of nineteenth-century globalization upon Latin America. It has been considered that, as a result of the role of Latin American countries as providers of raw materials produced in enclaves dominated by foreign capital, their participation in the world economy has had adverse consequences for their long-term development. This volume addresses a representative sample of countries with varied initial conditions and resource endowments, a diverse productive specialization, as well as different degrees of integration to the world economy. This allows a direct comparison among the different experiences within the region, which in turn enables a more nuanced understanding of the contribution of exports to economic growth and economic modernization. Eight national case studies are presented - Argentina, Brazil, Colombia, Chile, Peru, Mexico, Bolivia and Uruguay - which offer an insight into the successes of a region traditionally viewed as disadvantaged by globalization and export-led growth." -- Prové de l'editor Prologue 6 Contents 11 List of Figures 13 List of Tables 20 1: Latin America’s First Export Era: Reassessing Its Economic Contribution 22 Introduction 22 Views on Latin American Development and Our Proposal 25 Pre-existing Conditions and Available Alternatives: The Scope of the Possible Impact 29 The Analytical Framework: Making the Analysis Operational 32 Some Indicators of Export Performance 33 The Economic Contribution of Exports: The Analytical Parameters 36 Export Boom and Economic Growth: The Direct Impact 36 Export Boom and Economic Modernization: The Indirect Impacts 38 The Return Value (RV) 38 The Purchasing Power of Exports (PPX), Commercial Policy, and the Composition of Imports 41 Spillover Investments and Positive Externalities 43 Forward Linkages: Exports and Industrialization 45 Energy Transition 47 The Contents of this Book 48 References 52 2: The Contribution of Argentine Exports to the Economy, 1875–1929 59 Introduction 59 Argentina and the First Export Era 60 Existent Preconditions and Available Alternatives 60 Some Descriptive Indicators 62 The Economic Contribution of Exports: Some Parameters 66 Export Boom and Economic Growth: The Direct Contribution 66 The Indirect Contribution 68 The Return Value 68 The Fiscal Linkage 69 The Purchasing Power of Exports and the Change in the Composition of Imports 72 Industrial Linkages and Industrialization 74 Externalities 77 Consumption of Modern Energies 80 Balance 82 Epilogue 84 References 86 3: The Bolivian Export Sector (1870–1950) 95 Introduction 95 The Evolution of the Bolivian Export Sector 100 Some Descriptive Indicators 106 The Direct Contribution of Exports 114 The Indirect Contribution of Exports 120 Balance 123 References 127 4: The Brazilian Export Economy, 1822–1913 133 Introduction 133 The Development of the Export Economy 135 The Contribution of Exports to the Brazilian Economy 142 The Direct Contribution to GDP 142 Retained Value of Exports 144 Investment and Positive Externalities 148 Purchasing Power of Exports and Import Composition 153 Energy Transition 157 Balance 159 Epilogue 160 Bibliography 164 5: The Impact of Nitrates on the Chilean Economy, 1880–1930 173 Introduction 174 Framework, Sources and General Overview 178 The Chilean Nitrate Industry, 1880–1930 178 The Sources 180 General Overview 182 Exports’ Economic Contribution 187 Direct Contribution to Economic Growth 187 Return Value 190 Export’s Purchasing Power and Import Capacity (and Use) 192 External Economies and Investments 193 Forward and Backward Linkages 195 Balance 198 Epilogue 199 References 203 6: Exports and Economic Development in Colombia: A Regional Perspective, 1830–1929 211 Introduction 211 Regional Economy and Export Sector in the Nineteenth Century 213 General Overview of the Phases of Export Development, 1830–1929 218 Regional Impact of Export Cycles 226 Tobacco 227 Coffee 235 Overall Balance and Epilogue 243 References 248 Primary Sources—Press 248 Bibliography 249 7: Mexico in the Export Era (1870s–1929): Export Boom, Economic Modernization, and Industrialization 254 Introduction 254 Mexico and the First Export Era: Existent Preconditions and Available Alternatives 257 Some Descriptive Indicators 259 The Economic Contribution of Exports: Some Analytical Parameters 267 Export Boom and Economic Growth: The Direct Contribution 267 Export Boom and Economic Modernization: The Indirect Contribution 272 The Return Value 272 The Purchasing Power of Exports and the Changing Composition of Imports 275 Investment Associated with the Export Boom and Positive Externalities 277 Forward Linkages: Exports and Industrialization 280 Export Boom and Energy Transition 282 Balance 285 Epilogue 287 References 292 Archival Sources 292 Bibliography 292 8: Exports and Their Impact on the Economy. The Case of Peru, 1830–1930 298 Introduction 298 Indicators of the Export Sector 299 Evolution of the Export Sector 304 Economic Impact of Exports 310 Contribution to Economic Growth 310 Purchasing Power of Exports 315 Return Value 319 Positive Externalities: Liquidity and Public Works 320 Negative Externalities: Dutch Disease? 323 Balance 326 Epilogue28 327 Bibliography 330 9: Latin America’s First Export Era: A Preliminary Balance (Toward a New Synthesis) 332 A Preliminary Assessment 332 What Do We Do with Some Good Old Concepts? 344 Some Final Remarks 350 References 354 Index 356 This book challenges the wide-ranging generalizations that dominate the literature on the impact of export-led growth upon Latin America during the first export era. The contributors to this volume contest conventional approaches, stemming from structuralism and dependency theory, which portray a rather negative view of the impact of nineteenth-century globalization upon Latin America. It has been considered that, as a result of the role of Latin American countries as providers of raw materials produced in enclaves dominated by foreign capital, their participation in the world economy has had adverse consequences for their long-term development. This volume addresses a representative sample of countries with varied initial conditions and resource endowments, a diverse productive specialization, as well as different degrees of integration to the world economy. This allows a direct comparison among the different experiences within the region, which in turn enables a more nuanced understanding of the contribution of exports to economic growth and economic modernization. Seven national case studies are presented – Argentina, Brazil, Colombia, Chile, Peru, Mexico and Bolivia – which offer an insight into the successes of a region traditionally viewed as disadvantaged by globalization and export-led growth. Winner of the Vicens Vives prize for the best economic history book granted by the Spanish Economic History Association. Front Matter ....Pages i-xxii Latin America’s First Export Era: Reassessing Its Economic Contribution (Sandra Kuntz-Ficker)....Pages 1-35 The Contribution of Argentine Exports to the Economy, 1875–1929 (Sandra Kuntz-Ficker, Agustina Rayes)....Pages 37-72 The Bolivian Export Sector (1870–1950) (Jose Alejandro Peres-Cajías, Anna Carreras-Marín)....Pages 73-110 The Brazilian Export Economy, 1822–1913 (Christopher David Absell, Antonio Tena-Junguito)....Pages 111-150 The Impact of Nitrates on the Chilean Economy, 1880–1930 (Marc Badia-Miró, José Díaz-Bahamonde)....Pages 151-188 Exports and Economic Development in Colombia: A Regional Perspective, 1830–1929 (José Antonio Ocampo, Santiago Colmenares Guerra)....Pages 189-231 Mexico in the Export Era (1870s–1929): Export Boom, Economic Modernization, and Industrialization (Sandra Kuntz-Ficker)....Pages 233-276 Exports and Their Impact on the Economy. The Case of Peru, 1830–1930 (Luis Felipe Zegarra)....Pages 277-312 Latin America’s First Export Era: A Preliminary Balance (Toward a New Synthesis) (Sandra Kuntz-Ficker)....Pages 313-336 Back Matter ....Pages 337-348