Journal of Economic Literature
Book Reviews
2026-09-01
Juan Carlos Hallak of Universidad de San Andres reviews “The Decline of Latin American Economies: Growth, Institutions, and Crises” by Sebastian Edwards, Gerardo Esquivel, Graciela Marquez,. The EconLit Abstract of the reviewed work begins “Ten papers, originally presented at the NBER’s Inter-American Seminar on Economics held in Mexico City in December 2004, examine the puzzle of Latin America’s poor economic performance and consider the roles of institutions and political considerations. Papers discuss when Latin America fell behind (Leandro Prados de la Escosura); before the Golden Age--economic growth in Mexico and Portugal, 1910-50 (Pedro Lains); inequality and the evolution of institutions of taxation--evidence from the economic history of the Americas (Kenneth L. Sokoloff and Eric M. Zolt); financial crises, 1880-1913--the role of foreign currency debt (Michael D. Bordo and Christopher M. Meissner); the true measure of country risk--a primer on the interrelations between solvency and the polity structure of emerging markets, Argentina 1886-92 (Gerardo della Paolera and Martin Grandes); related lending--manifest looting or good governance?--lessons from the economic history of Mexico (Noel Maurer and Stephen Haber); sudden stops and currency drops--a historical look (Luis A. V. Catao); establishing credibility--the role of foreign advisors in Chile’s 1955-58 stabilization program (Sebastian Edwards); some economic effects of closing the economy--the Mexican experience in the mid-twentieth century (Gerardo Esquivel and Graciela Marquez); and the political economy of protectionism--the Mexican textile industry, 1900-1950 (Aurora Gomez-Galvarriato). Edwards is Henry Ford II… Index.”