Unit V: GLobalisation, Instiution bu

Question 1

What period does the analysis of Latin America’s economic development cover?

Answer 1

Approximately 1870 to 1929

Question 2

What was the main driver of economic growth in Latin America during this period?

Answer 2

Export-led growth

Question 3

What external factor significantly contributed to Latin America’s economic growth?

Answer 3

Increased demand from industrialized nations

Question 4

What internal factors fueled economic growth in Latin America?

Answer 4

Institution-building and strengthening of nation-states

Question 5

What types of products primarily drove Latin American exports during this period?

Answer 5

Agricultural and mining products

Question 6

True or False: Latin America’s share in world trade consistently increased throughout the period.

Answer 6

False

Question 7

What percentage of Latin America’s output was constituted by the domestic market?

Answer 7

Over 80 percent

Question 8

What role did the expansion of railroads play in Latin America’s economy?

Answer 8

Connected regions and facilitated trade

Question 9

What political trend was observed in many Latin American countries during this period?

Answer 9

Increased political stability, often under authoritarian governments

Question 10

Fill in the blank: Immigration played a role in _______ markets and technology transfer.

Answer 10

labor

Question 11

Which foreign nation initially dominated capital inflows into Latin America?

Answer 11

Great Britain

Question 12

What significant event ended the period of export-led growth in Latin America?

Answer 12

The global financial crash of 1929

Question 13

What term describes the reliance on specific commodities that implies an element of ‘luck’ in export capacity?

Answer 13

Commodity lottery

Question 14

What was a key characteristic of the three groups of Latin American countries during this period?

Answer 14

Distinct economic performances and characteristics

Question 15

What was the impact of large-scale immigration on countries like Argentina and Uruguay?

Answer 15

Significant population growth

Question 16

What transformation occurred in land markets during this era?

Answer 16

Targeting indigenous lands and changes in land ownership

Question 17

What is one of the main social indicators that showed disparities across Latin American countries?

Answer 17

Life expectancy

Question 18

What was the role of the state in economic development during this period?

Answer 18

Protecting infant industries and developing banking systems

Question 19

Fill in the blank: The early stages of _______ began to emerge in some Latin American countries.

Answer 19

industrialization

Question 20

What was the impact of foreign investment patterns shifting from British to American dominance?

Answer 20

Different sectoral focuses

Question 21

What type of economic policy was employed by some countries to support local industries?

Answer 21

High customs duties

Question 22

What characterized the export-led growth process in Latin America?

Answer 22

Path-dependent nature of economic development

Question 23

What was a limitation of human capital in Latin America during this period?

Answer 23

Relatively low levels compared to international standards

Question 24

True or False: The economic expansion of this period was sustained and continuous.

Answer 24

False

Question 25

What were 'backward linkages' in the context of Latin America's export sector?

Answer 25

Development in other parts of the domestic economies stimulated by export growth

Question 26

What were some forms of rural life in Latin America during this period?

Answer 26

Haciendas, small and medium-scale producers

Question 27

How did the expansion of the agricultural frontier occur in many Latin American countries?

Answer 27

The expansion involved the appropriation of new lands, often through military campaigns against indigenous populations and the shifting of traditional crops to marginal areas for export crops. ## Footnote This resulted in the displacement of indigenous communities and concentration of land ownership.

Question 28

What evidence suggests that land markets in Argentina and Uruguay became more integrated during this period?

Answer 28

Evidence includes a significant increase in land prices across regions and the convergence of price differences following the expansion of transport networks like railways.

Question 29

In what sectors did Latin American governments begin to play a more active role during this era?

Answer 29

Governments became more active in: * Protecting infant industries in manufacturing * Promoting national banking systems * Investing in infrastructure development like railways and ports.

Question 30

What were the primary weaknesses of industrial growth in Latin America between 1870 and 1929?

Answer 30

Primary weaknesses included: * Vulnerability to fluctuations in international demand and prices * Dependence on a limited number of natural resources * Potential for boom-and-bust cycles.

Question 31

Which group of Latin American countries saw the highest levels of per capita income during the export boom?

Answer 31

Group 3 (e.g., Argentina, Chile, Uruguay) achieved the highest levels of per capita income and exhibited strong export performance.

Question 32

What were the consequences of high rates of intercontinental immigration in Argentina, Uruguay, and Cuba?

Answer 32

Consequences included: * Population growth * Expanded labour force * Development of new skills and industries.

Question 33

What general trend was observed regarding nation-state power in Latin America during this period?

Answer 33

The trend was towards the consolidation of centralized power, often led by strong, sometimes authoritarian figures.

Question 34

What is meant by 'backward linkages' in the context of economic growth?

Answer 34

Backward linkages refer to the stimulus that the growth of one sector provides to other domestic industries through increased demand for inputs, services, and infrastructure.

Question 35

What does the term 'commodity lottery' signify in the context of Latin American economies?

Answer 35

The 'commodity lottery' signifies that a country's export success is largely determined by its natural resource endowments and fluctuating global demand, implying an element of luck.

Question 36

What role did foreign capital play in Latin American economies from 1870 to 1929?

Answer 36

Foreign capital financed infrastructure projects like railroads and ports, with Great Britain being the dominant source until World War I.

Question 37

Fill in the blank: The economic growth in Latin America between 1870 and 1913 was largely driven by the consolidation of _______ and integration into the world economy.

Answer 37

[nation-states]

Question 38

What was a significant impact of the structure of land ownership in rural Latin America during this period?

Answer 38

The structure remained highly concentrated, with large landholders appropriating land often at the expense of indigenous communities.

Question 39

What was one of the key social developments in Latin America during the export boom?

Answer 39

The growth of urban centers led to the emergence of a middle class and a working class increasingly engaged in social struggles.

Question 40

True or False: By 1929, Latin America's per capita GDP was equal to that of the world's leading economies.

Answer 40

False

Question 41

What were some limitations of the industrial growth observed in Mexico under Porfirio Díaz?

Answer 41

Limitations included that industrial growth did not fundamentally alter reliance on primary exports and was linked to the domestic market.

Question 42

What is the definition of 'hacienda' in the context of Latin American agriculture?

Answer 42

A large agricultural estate characterized by hierarchical social relations and varying forms of labour, from tenant farming to wage labour.

Question 43

What does 'financial deepening' refer to?

Answer 43

The expansion and sophistication of a country's financial sector, including the growth of banking, credit markets, and other financial institutions.

Question 44

What was the significance of the terms of trade for Latin American countries?

Answer 44

The terms of trade refer to the ratio of export prices to import prices, with improvements allowing countries to buy more imports for a given quantity of exports.

Question 45

What is an 'infant industry'?

Answer 45

A new domestic industry that is still developing and may require protection from foreign competition in its early stages.

Question 46

Fill in the blank: The _______ system was a form of tenant farming prevalent in Chile.

Answer 46

[inquilinato]

Question 47

What were the two main interconnected sets of factors driving economic growth in Latin America between 1870 and 1913?

Answer 47

* Consolidation of nation-states * Increased integration into the world economy.

Question 48

What was the primary characteristic of rural life and labor relations in Latin America during the export boom?

Answer 48

A gradual shift towards monetisation of contracts and payments, with a movement from tenant farming to wage labor.