The global political economy of development finance: myths and new realities in Latin American development finance

This work explores the limitations and bias of the two dominant and contrasting models of Development Finance in Latin America - Neoliberal and Neostructural - because of their rationale, political-economic orientations, and historical results. There are copious academic works that highlight the rol...

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Autores principales: Vivares, Ernesto, Stanley, Leonardo Ernesto
Lenguaje:Inglés
Publicado: Edward Elgar Publishing Limited 2022
Acceso en línea:https://nulan.mdp.edu.ar/id/eprint/4305/
https://nulan.mdp.edu.ar/id/eprint/4305/1/vivares-stanley-2022.pdf
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Nulan - Fac.Cs.Económicas (UNMdP) de Universidad Nacional de Mar del Plata (UNMdP)
id I29-R135-4305
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spelling I29-R135-43052025-05-15T12:55:54Z The global political economy of development finance: myths and new realities in Latin American development finance Vivares, Ernesto Stanley, Leonardo Ernesto This work explores the limitations and bias of the two dominant and contrasting models of Development Finance in Latin America - Neoliberal and Neostructural - because of their rationale, political-economic orientations, and historical results. There are copious academic works that highlight the role of either the market-led (neoliberal) or developmentalist (Neostructural) perspective of development finance considering Latin America's political-economic configurations, political instability, and international insertion. There, scholarly research is divided in two prevailing viewpoints. On the one hand, those that focus on market-led development, the international virtues of comparative progress and the limitations of welfare state as the safe monetary base of development finance. On the other hand, the developmentalist viewpoint, as a wide-ranging label, considers that the base for stable growth and international insertion is an active import substitution policy focused on strategic productive sectors and a strict control on the national capital account. These opposing views are supported by well-founded studies, which generally embroil in an endless debate about ontological and epistemological essentialist factors. This chapter aims at making a critical review of these positions and discussing their rationale, their historical political-economic context, their results and their current limitations and perils for Latin America. Although methodologically the criticisms of the neoliberal model may be more convincing, given the current challenges that the region faces, evidence shows that both approaches have limitations and perils. The purpose of this work is to introduce the main lines for a research agenda oriented to explore the limitations of both models in the context of the rapid decline of the global political economy of development finance within the Neoliberal Order. Edward Elgar Publishing Limited 2022 https://nulan.mdp.edu.ar/id/eprint/4305/ application/pdf eng https://nulan.mdp.edu.ar/id/eprint/4305/1/vivares-stanley-2022.pdf In Deciancio, Melisa <https://nulan.mdp.edu.ar/view/creators/Deciancio=3AMelisa=3A=3A.html>; Nemiña, Pablo <https://nulan.mdp.edu.ar/view/creators/Nemi=F1a=3APablo=3A=3A.html> y Tussie, Diana <https://nulan.mdp.edu.ar/view/creators/Tussie=3ADiana=3A=3A.html> (Eds.), Handbook on the politics of international development (pp. 218-230). Cheltenham: Edward Elgar Publishing Limited. ISBN 978-1-83910-190-8. 10.4337/9781839101915.00023 <https://doi.org/10.4337/9781839101915.00023> América Latina info:eu-repo/semantics/altIdentifier/doi/10.4337/9781839101915.00023
institution Universidad Nacional de Mar del Plata (UNMdP)
institution_str I-29
repository_str R-135
collection Nulan - Fac.Cs.Económicas (UNMdP)
language Inglés
orig_language_str_mv eng
description This work explores the limitations and bias of the two dominant and contrasting models of Development Finance in Latin America - Neoliberal and Neostructural - because of their rationale, political-economic orientations, and historical results. There are copious academic works that highlight the role of either the market-led (neoliberal) or developmentalist (Neostructural) perspective of development finance considering Latin America's political-economic configurations, political instability, and international insertion. There, scholarly research is divided in two prevailing viewpoints. On the one hand, those that focus on market-led development, the international virtues of comparative progress and the limitations of welfare state as the safe monetary base of development finance. On the other hand, the developmentalist viewpoint, as a wide-ranging label, considers that the base for stable growth and international insertion is an active import substitution policy focused on strategic productive sectors and a strict control on the national capital account. These opposing views are supported by well-founded studies, which generally embroil in an endless debate about ontological and epistemological essentialist factors. This chapter aims at making a critical review of these positions and discussing their rationale, their historical political-economic context, their results and their current limitations and perils for Latin America. Although methodologically the criticisms of the neoliberal model may be more convincing, given the current challenges that the region faces, evidence shows that both approaches have limitations and perils. The purpose of this work is to introduce the main lines for a research agenda oriented to explore the limitations of both models in the context of the rapid decline of the global political economy of development finance within the Neoliberal Order.
author Vivares, Ernesto
Stanley, Leonardo Ernesto
spellingShingle Vivares, Ernesto
Stanley, Leonardo Ernesto
The global political economy of development finance: myths and new realities in Latin American development finance
author_facet Vivares, Ernesto
Stanley, Leonardo Ernesto
author_sort Vivares, Ernesto
title The global political economy of development finance: myths and new realities in Latin American development finance
title_short The global political economy of development finance: myths and new realities in Latin American development finance
title_full The global political economy of development finance: myths and new realities in Latin American development finance
title_fullStr The global political economy of development finance: myths and new realities in Latin American development finance
title_full_unstemmed The global political economy of development finance: myths and new realities in Latin American development finance
title_sort global political economy of development finance: myths and new realities in latin american development finance
publisher Edward Elgar Publishing Limited
publishDate 2022
url https://nulan.mdp.edu.ar/id/eprint/4305/
https://nulan.mdp.edu.ar/id/eprint/4305/1/vivares-stanley-2022.pdf
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