Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE ( © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 04 December 2020

Abstract and Keywords

This chapter notes that commodity exports were a continuing subject of attention and concern well before the contributions of Raul Prebisch and Hans Singer in the postwar period. Countries will have to design their trade policies in accordance with a changing pattern of comparative advantage. Massive intervention designed to modify that reality runs the risk of repeating past import-substituting industrialization all over again. Argentina has been unable to translate its resource richness into a source of continuous advance over the last 50 years. Chile has achieved impressive gains over the last two decades. Venezuela is the third case. Petroleum has not served to underwrite sustained economic growth. Instead, the cyclical heights and depths have reflected themselves in domestic economic instability. Brazil has managed a remarkable transition over this same period. Import substitution has worked to develop a domestic industrial base of significant magnitude and one capable of international competition.

Keywords: commodity exports, trade policies, Latin America, import substitution, Brazil, Chile, Venezuela

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.