The Globalisation and its Implications for the Economic Development of Latin America

Matthias Blum and Jörg Stosberg
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Matthias Blum: Ibero-America Institute for Economic Research of the University of Goettingen
Jörg Stosberg: Ibero-America Institute for Economic Research of the University of Goettingen

International Trade from University Library of Munich, Germany

Abstract: The process of globalisation has in several ways an impact on the Latin American Economies. The recent developments give a carefully optimistic view on the economic consequences for these countries. While all of the Latin American nations still lag behind the industrialised countries with respect to their integration into global information networks, the digital divide seems to be narrowing in the near future. Concerning the trade and production structure most countries of the region are moving towards a higher degree of diversity while industrialisation and modernisation are progressing. While capital inflows into the region have spurred growth, the experience of the financial crisis in the emerging markets during the second half of the 90s showed the necessity of creating sound financial institutions. In addition other institutions e.g. in the field of education, administration and jurisdiction have to be built up for ensuring the possible benefits of a globalised world.

Keywords: globalisation; Latin America; information technology; trade; investment; institutions (search for similar items in EconPapers)
JEL-codes: O1 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2003-09-23
New Economics Papers: this item is included in nep-dev and nep-lam
Note: Type of Document - Acrobat PDF; pages: 18 ; figures: included
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpit:0309023

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