Good winds for Latin America: but not for everybody
If the winds were elusive for Latin American economies so many times in the20th century, this time the story seems to be being different. China’s rapid recoverysince the end of the second quarter of 2020, the reopening of a significantpart of industrial and productive activities in developed countri...
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| Formato: | Artículo publishedVersion |
| Lenguaje: | Español |
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Instituto Interdisciplinario de Economía Política (IIEP UBA-CONICET)
2022
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| Acceso en línea: | https://ojs.economicas.uba.ar/DT-IIEP/article/view/2431 https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=dociiep&d=2431_oai |
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| Sumario: | If the winds were elusive for Latin American economies so many times in the20th century, this time the story seems to be being different. China’s rapid recoverysince the end of the second quarter of 2020, the reopening of a significantpart of industrial and productive activities in developed countries, the expansionarymonetary policies of the main developed countries, and the gradualnormalization of the international transport system resulted in in an incipientimprovement in the international prices of the main agricultural and miningcommodities towards mid-2020, a trend that accelerated towards the end ofthat year and early 2021.In any case, the aggregate impact of the price shock does not seem to havereached macroeconomically significant levels, both in relation to its ability todrive higher GDP growth and / or the per capita income levels of the differentcountries. And so, and as so many times in history, commodity price cycles onceagain put in white on black the need of different countries to take advantage ofthe ascending phases to implement mechanisms that favor the developmentof forward linkages that allow not only adding value to natural resources, butalso moving towards productive structures less dependent on products thathave historically been characterized by the volatility of their international prices. |
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