In the last few years there has been an explosion in the number of papers that aim to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk free rate). In this paper, we contribute to the discussion using by showing that Brazilian...

This paper investigates the profit rate in Brazil between 1953 and 2003. There was a tendency for the profit rate to fall during the period under study determined mainly by the declining productivity of capital. There were three phases in the behavior of the profit rate. In the first phase,...

Literature on convergence among Latin American countries is still scarce compared to other regions. Almost none of the research connects convergence to the economic history of Latin America and the usual finding is one speed of convergence assuming one globally stable steady-state. In this paper...

A mediados del siglo XIX se evidencia uno de los procesos de inversión extranjeramás exitosos de América Latina y en particular en Colombia: la construccióny puesta en funcionamiento de la Panama Railroad Co. Esta línea férrea sediseñó y ejecutó como una ruta de paso entre los océanos...

The Batllismo was a defining political and cultural phenomenon of Uruguay in the first three decades of the twentieth century. One of the most characteristic aspects of his speech and action was economic and social reformism. Within the limits of capitalism and political liberalism, it was...

This paper brings a global approach to the principles characteristics of the monetary policy in the period 1931-1959 and its changes related to the national and international context. Two were the most important transformations. On one hand, the increasing role of the Republic Bank of Uruguay...

Although the Uruguayan participation in world trade was insignificant, the external sector had a crucial role in the national economy of such a small and open country. On the one hand, the country's economic growth depended on livestock exports, on the other, continued state funding was...

This is the first of three papers that study the Uruguayan economy between 1900 and 1955. It is considered the global economic performance of Uruguay during the first half of the 20th century, when the country experienced “its best” period of economic growth in contrast with the worst...

There´s a consensus in the Uruguayan historiography about the important increase of the state intervention in economic and social issues during the long period of political dominance of Batllismo (1903-1933). However, the studies of this phenomenon have not discriminated sufficiently between...

In this paper we study the economic policies between 1900 and 1955. We divide the analysis in two periods considering 1931 as a benchmark between two different policies. After this year, we identify important changes in the economic policies in terms of the role of the state and the regulation...