As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration. This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself. This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.

Globalization in Historical Perspective (National Bureau of Economic Research Conference Report)

Business & Money

Alan M. Taylor

Jeffrey G. Williamson

Michael D. Bordo

Economics

University of Chicago Press

The "Argentine disappointment"—why Argentina persistently failed to achieve sustained economic stability during the twentieth century—is an issue that has mystified scholars for decades. In Straining the Anchor, Gerardo della Paolera and Alan M. Taylor provide many of the missing links that help explain this important historical episode. Written chronologically, this book follows the various fluctuations of the Argentine economy from its postrevolutionary volatility to a period of unprecedented prosperity to a dramatic decline from which the country has never fully recovered. The authors examine in depth the solutions that Argentina has tried to implement such as the Caja de Conversión, the nation's first currency board which favored a strict gold-standard monetary regime, the forerunner of the convertibility plan the nation has recently adopted. With many countries now using—or seriously contemplating—monetary arrangements similar to Argentina's, this important and persuasive study maps out one of history's most interesting monetary experiments to show what works and what doesn't.

Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935 (National Bureau of Economic Research Series on Long-Term Factors in Economic Development)

Gerardo della Paolera

Where Latin American government leaders once looked at free trade agreements as solely about trade and trading policies, they are increasingly viewing them as the next beacon of hope in the long and arduous road of economic reform. 
 Integrating the Americas: FTAA and Beyond discusses how these governments have become embroiled in a larger set of issues affecting both institutions. This work, based on a conference sponsored by the Inter-American Development Bank and the David Rockefeller Center for Latin American Studies, examines how this free trade process is surging ahead, while at the same time taking on a broader set of issues including institutional reform, transparency, the environment, labor, and social cohesion. The payoffs to the strategy of liberalization, privatization, and openness have been meager and disappointing to date. Will the FTAA be able to reverse this and allow Latin America to reap the benefits of globalization?

Integrating the Americas: FTAA and Beyond

Estevadeordal, Antoni

DANI RODRIK

Andres Velasco

David Rockefeller Center for Latin American Studies

The fifteen essays in this volume apply the methods of the new economic history to the history of the Latin American economies since 1800. The authors combine the historian's sensitivity to context and contingency with modern or "neoclassical" economic theory and quantitative methods. 
 The essays shed new light on the economic history of all the major economies from Mexico and Cuba to Brazil and Argentina. Some focus on comparing macroeconomic policies and performance, others analyze key sectors such as foreign trade, finance, transportation, and industry, and still others focus on the impact of property rights, government regulation, and political upheaval.

Latin America and the World Economy since 1800 (Series on Latin American Studies)

John H. Coatsworth

History

International Macroeconomics

Robert C. Feenstra

Worth Publishers

International Economics

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Books by Alan M. Taylor