Banker to the Third World: U. S. Portfolio Investment in Latin America, 1900-1986 Volume 18

by Barbara Stallings

Book Overview

By the end of 1985, Latin Americans owed their foreign creditors $368 billion. That was nearly $1,000 for every man, woman, and child between the Rio Grande and Tierra del Fuego. The debt represented more than half of the region's gross domestic product, and interest payments alone consumed 36 percent of export revenues. If profits are added to interest, and the total compared to new capital inflows, the drama of the situation becomes clear: a real...

• Format: Paperback
• Language: English
• ISBN: 0520302265
• ISBN13: 9780520302266
• Release Date: June 2018
• Publisher: University of California Press
• Length: 456 Pages
• Weight: 1.09 lbs.
• Dimensions: 1.0" x 5.0" x 8.0"

Customer Reviews

Excellent Introduction to Latin American finance

This is a superb introduction to the financial history of Latin America in the years 1914-1976. As such, it has many virtues which cause it to stand out:(a) Ms. Stallings is not determined to write an exposé; she is also not writing, by any means, a defense of what happened. This is one of the most objective, calm accounts of the region I've ever seen. (b) Her treatment of the period enables one to get a grasp of general trends that came before and which persist today. This can be used to prepare for additional research on other periods. Ms. Stallings pays the greatest attention to Peru's experience. However, a student researching the impact of US financial institutions could easily use this as a template for examining other nations or subsequent periods. She outlines the basic economic principles and controversies associated with FDI, while pointing to competing views on the matter.My chief reason for appreciating this book is that that she introduces J.A. Hobson's "Imperialism" (see recommendations above). The book is a bit dated, and one wishes she'd updated this work with another edition. But it is hard to encounter this sort of rigor, objectivity, and clarity in any work on such a controversial subject.