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State, capital and peasantry in a small open economy: The case of Paraguay
Abstract
This dissertation examines the consolidation and erosion of the economic and political institutions governing the economic growth process in a small, predominantly agrarian, open economy. In particular, it explains the economic crisis in Paraguay in the 1980s under the military regime (1954-1989). The dissertation asserts that the end of the boom and the later long stagnation was a result of the shift in not only external but also in the internal conditions affecting profitability and investment. The fiscal crisis of the state and the increase of both the Ricardian effect in agriculture and the product wage (as well as the fall of the world market prices of primary commodities and the slowdown of foreign direct investment), undermined the profitability and accumulation. These claims are substantiated by an institutional history, a simple two sectoral model, and econometric estimations.
Subject Area
Economics|Agricultural economics|Latin American history
Recommended Citation
Borda, Dionisio, "State, capital and peasantry in a small open economy: The case of Paraguay" (1993). Doctoral Dissertations Available from Proquest. AAI9329575.
https://scholarworks.umass.edu/dissertations/AAI9329575