[PDF.73lo] The Limits of Stabilization (Latin American Development Forum)

The Limits of Stabilization (Latin American Development Forum)

[PDF.fb86] The Limits of Stabilization (Latin American Development Forum)

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#3567728 in eBooks 2003-10-01 2003-10-01File Name: B003BHM7UA1 of 1 people found the following review helpful. lesson for the US ?!By W BoudvilleThis book is a reaction to the Latin American fiscal crisis of the early 80s. When several countries ran up huge debts often denominated in foreign currencies. The debts were large relative to the countries GDPs. The International Monetary Fund and the World Bank weighed in with technical advice about reducing these debts. Often, one of the line items was a reduction in national spending on infrastructure.The aut"This fascinating book highlights a neglected cost of two decades of fiscal austerity in Latin America. The authors' careful analysis reveals that the decline in public investment in infrastructure may have been expensive not only for growth but for long-term fiscal solvency as well. Deserves toOver the 1980s and 1990s, most Latin American countries witnessed a retrenchment of the public sector away from infrastructure provision and an opening up of infrastructure activities to the private sector. This book analyzes the consequences of these policy changes from two perspectives. First, it reviews in a comparative framework the major trends in infrastructure provision in Latin America over the last two decades. Second, it evaluates the implication of these trends for economic growth and...

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