Economic Survey of Latin America and the Caribbean

1681-0384 (online)
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The Economic Survey of Latin America and the Caribbean is issued annually by the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC). It covers the economic situation in Latin America and the Caribbean and provides a concurrent economic overview of the region, as provided by the Division and other experts based on statistical indicators which are collected annually.
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Economic Survey of Latin America 1977

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31 Dec 1977
9789210583411 (PDF)

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Published since 1948, this report examines various aspects of the previous year’s macroeconomic situation in the region and makes projections for the coming months. The study also includes country notes that review the performance of the main economic indicators in the period analysed.

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  • The evolution of the Latin American Economy in 1977

    Before examining economic events in Latin America during the year 1977 it will be useful, in ordet to provide a global context for the subsequent analysis on the region, to make a brief prior review of world economic trends in the same year. This review will cover developments as regards economic growth, priees, trade and external finance for the industrialized countries, developing oil exporters and non-oil developing countries, with the latter group broken down intomajor regions where feasible.

  • Economic trends by countries

    The most notable events in the evolution of the Argentine economy in 1977 were the increase in investments, the marked expansion in agricultural production, the high level achieved by exports and the satisfactory position of international reserves, together with a reduction in the fiscal deficit. In contrast to these achievements, however, inflation continued at a high and fluctuating rate which countermeasures failed to control, while real wages made no appreciable recovery. At the same time, the country suffered for the fourth year running a marked deterioration in its terms of trade, which dropped to their lowest level in the last 50 years.

  • Two studies on international economic relations

    In the 1970s profound changes have taken place in world trade, with sharp fluctuations and a widespread upward trend in prices. The three years from 1973 to 1975 were the period of greatest dynamism, with the value of world exports rising at the extremely high rates of 60% in 1973 and 47% in 1974, but then growing by only 3% in 1975. In the following two years there was a return to relative normality, but trade did not resume the pattern it had at the beginning of the period.

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