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Latin american countries economy - Essay Example

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Brazil is one among the top ten economies in the world at present and they are the largest economy in Latin America. It gives us a clear picture about the waxing and waning of Brazilian economy from…
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Download file to see previous pages The authors argue that the distributive conflicts are the major reason for Brazilian inflation. In their opinion, social groups such as unionized workers, rentiers and monopoly capitalists have monopoly power and can determine the prices of their goods or services strategically. When some of these groups use their market power to increase their share of national income, other groups also react with the same weapons and subsequently conflict inflation may arises.
Another reason mentioned in the article for Brazilian inflation is the monetary crisis. The deterioration of Brazilian currency is related to the problems in the supply of money. The authors refereed this type of inflation as the extra money inflation. In their opinion, extra money can be created both privately and by the public sector. They argued that extra money increases the nominal national income. If extra money increases demand in those sectors which are operating in full strength, prices will increase if imports of are inadequate. Thus extra money produces inflation.
In short, the authors believe that high inflation, high interest rates, balance of payment vulnerability and the government’s inability to maintain low inflation rates and exchange rate stability are the major obstacles in front of Brazil in attaining proper economic growth.
The author of this article argues that Colombian economic growth is directly related to the armed conflicts existing in that country. Coffee is one of the major revenue sources for Colombia; however, coffee prices dipped a lot in the recent past which affected Colombian economy drastically. Economic decline brought poverty and unemployment in Columbia for the past few decades. The author argues that pathetic living conditions made Colombian soil fe3rtile for antisocial activities like armed violence.
Colombian administration is not getting enough time to concentrate more on the problems in ...Download file to see next pagesRead More
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