RHE 2012 n. 01 primavera

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Archivo Abierto Institucional de la Universidad Carlos III de Madrid: RHE V.30 Nº1 primavera 2012
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  • Publication
    Contraportada [Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Año XXX, march 2012, n. 1]
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-03)
  • Publication
    Exchange rate regimes in the major Latin American countries since the 1950s: lessons from history
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-03) Frenkel, Roberto; Rapetti, Martín
    The paper analyses exchange rate regimes implemented by the major Latin American (LA) countries since the 1950s, with special attention to the period beginning in the 1970s. The aim is to evaluate the relationship between exchange rate regimes and macroeconomic performance. After an overview of the main trends followed by the major LA countries over the last 60 years, the paper focusses on regimes that were implemented (1) with stabilisation purposes (nominal anchor) and (2) with the aim of targeting competitive and stable real exchange rates. These sections analyse in greater detail some important links between exchange rate regimes and macroeconomic performance. The paper closes with an assessment of the experiences with exchange rate regimes in LA.
  • Publication
    Gasto público total y social: el caso de Uruguay en el siglo XX
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-03) Azar, Paola; Fleitas, Sebastián
    This article discusses the evolution of the total and social public expenditure in Uruguay during the 20th century. It analyzes the growth path of the social public expenditure and the extent up to which it could be preserved from the cyclical economic downturns and the fiscal constraints of the Public Sector. The paper finds a low long-run elasticity of public spending to GDP – leading to a slow growth of social public expenditure and a remarkable procyclical pattern of total and social public expenditure. It also shows that social spending, especially education expenditure, has often been used as an instrument to curb budget deficits. No distinctive «fiscal regimes» for the period could be identified.
  • Publication
    Cuba económica en tiempos de las independencias Americanas. La hacienda y la consolidación de los vales reales en comparación con el caso de México
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-03) Vázquez Cienfuegos, Sigfrido; Santamaría García, Antonio
    The historiography emphasizes the importance of the fiscal policy and regional differences as causes of Hispano-American independences. The Consolidación de los Vales Reales (1804-1809), an endorsement of the debt contracted to its colonies by Spain in order to finance its constant wars, caused the collapse of the Mexican Treasury and was a key factor in its independence. This article demonstrates that in Cuba, the Consolidation had a different effect. Thanks to its different institutionalization and fiscal praxis, it was used to alleviate the deficit of situados, with which the Mexican Treasury financed the Cuban, and it may help to understand the reasons for non-independence. However, to prove this requires reconstructing the accounts of the Cuban Consolidation, which also demonstrates that the data used up until now were erroneous.
  • Publication
    Why were Latin America’s tariffs so much higher than Asia’s before 1950?
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-03) Clemens, Michael A.; Williamson, Jeffrey G.
    Latin America had the highest tariffs in the world before 1914; Asia had the lowest. Heavily protected Latin America also boasted some of the most explosive belle e´poque growth, while open Asia registered some of the least. What brought the two regions to the opposite ends of the tariff policy spectrum? We find that limits to Asian tariff policy autonomy may have lowered tariffs substantially there, but by themselves they cannot explain why Asian tariffs were so much lower than the Latin American tariffs before 1914; that natural barriers, domestic political economy and strategic tariff policy seems to have contributed much to the difference and that the origins of Asian post-World War 2 import-substitution policies seem to lie in the interwar years when Asian tariff levels caught up with those of Latin America.
  • Publication
    Economic reforms and growth in Franco’s Spain
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-03) Prados de la Escosura, Leandro; Rosés, Joan R.; Sanz-Villarroya, Isabel
    This paper is an attempt at assessing the economic impact of marketoriented reforms undertaken during General Franco’s dictatorship, in particular the 1959 Stabilisation and Liberalisation Plan. Using an index of macroeconomic distortions, the relationship between economic policies and the growth record is examined. Although a gradual reduction in macroeconomic distortions was already in motion during the 1950s, the 1959 Plan opened the way to a new institutional design that favoured a free market allocation of resources and allowed Spain to accelerate growth and catch up with Western Europe. Without the 1950s reforms and, especially, the 1959 Plan, per capita GDP would have been significantly lower in 1975.
  • Publication
    Preliminares [Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Año XXX, march 2012, n. 1]
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-03)