The sword of Damocles : U.S. financial hegemony in Colombia and Chile, 1950-1970 / Jon V. Kofas.

Format:

Book

Author/Creator:

Kofas, Jon V.

Language:

English

Subjects (All):

International Monetary Fund--Colombia.

International Monetary Fund.

International Monetary Fund--Chile.

World Bank--Colombia.

World Bank.

World Bank--Chile.

Debts, External--Colombia--History--20th century.

Debts, External.

Debts, External--Chile--History--20th century.

Physical Description:

1 online resource (xix, 239 pages)

Edition:

1st edition

Distribution:

London : Bloomsbury Publishing, 2024

Place of Publication:

Westport, Conn. : Praeger, 2002.

Language Note:

English

Summary:

Focusing on Chile and Colombia during the 1950s and 1960s, Kofas examines the impact of IMF, World Bank, and U.S. foreign policy on the economies and social and political institutions of Latin America. Far from fostering democracy and social justice, foreign loans and aid were major impediments to these ideals. Symptomatic of systematic underdevelopment, cyclical Third World foreign borrowing and debt crises have been responsible for maintaining the debtor nations integrated into the global market economy, perpetuating their dependency, and maintaining low living standards. Comparing Colombia and Chile, the book examines the complex factors of domestic and international forces that account for structural underdevelopment in the Third World. A study on the historical antecedents of globalism and its impact on the Third World, this book analyzes the interplay between IMF, World Bank, and U.S. foreign policy in shaping the economies of the Third World through loans that are the catalyst to global integration. Through its in-depth look at a complex topic, this book will prove provocative and valuable reading to students of globalization, inter-American relations, international finance, Latin American History, and U.S. diplomatic history.

Contents:

Cover

THE SWORD OF DAMOCLES

Contents

Acknowledgments

Introduction

PART I THE LATIN AMERICAN SETTING

1 Prolegomena to the Debt Crisis: From Bretton Woods to the Alliance for Progress

DEBT CYCLES: FROM INDEPENDENCE TO THE GREAT DEPRESSION

BRETTON WOODS AND LATIN AMERICA: AN OVERVIEW

INTEGRATING LATIN AMERICA INTO THE INTER-AMERICAN SYSTEM DURING THE EARLY COLD WAR

FOREIGN LOANS, FOREIGN INVESTMENT, AND AUTHORITARIAN POLITICS

DIVERSIFICATION OF TRADE AND LOANS, AND ANTECEDENTS TO THE ALLIANCE FOR PROGRESS

THE ALLIANCE FOR PROGRESS AND ANTECEDENTS TO THE DEBT CRISIS OF THE 1980s

PART II COLOMBIA

2 International Financial Relations during the Authoritarian Era, 1950-1958

AN OVERVIEW OF FOREIGN BORROWING AND EXTERNAL DEPENDENCE

U.S. FOREIGN POLICY, THE MULTILATERAL BANKS, AND FOREIGN BORROWING UNDER GÓMEZ

COFFEE DEPENDENCE AND FOREIGN BORROWING UNDER THE ROJAS DICTATORSHIP

THE COMMERCIAL DEBT CRISIS, THE STABILIZATION OF 1956, AND THE FALL OF ROJAS

THE JUNTA AND THE INTERNATIONAL FINANCIAL INSTITUTIONS, 1957-1958

3 Foreign Borrowing and Developmentalism under the National Front

COFFEE CRISIS AND STABILIZATION UNDER LLERAS CAMARGO

LABOR UNREST, THE CUBAN REVOLUTION, AND THE IMF STANDBY ARRANGEMENT

THE TEN-YEAR PLAN AND THE INTERNATIONAL FINANCIAL INSTITUTIONS

COLOMBIAN-EUROPEAN FINANCIAL RELATIONS AND THE U.S. REACTION

4 International and Domestic Politics of Austerity under Valencia

VALENCIA, THE PLAN SANTAMARIA, AND REACTION TO AUSTERITY

IMF POLICY, COFFEE DEPENDENCE, AND THE BALANCE-OF-PAYMENTS CRISIS OF 1963

AUSTERITY, DEBT ALERT, AND WANING OF THE NATIONAL FRONT

STATE OF SIEGE AND U.S. PRESSURE FOR STABILIZATION

POPULAR RESISTANCE TO AUSTERITY AND VALENCIA'S LEGACY.

5 Twilight of Reformist Developmentalism: Stabilization and Monetarism under Lleras Restrepo

REFORM AND RESISTANCE

LLERAS RESTREPO'S REACTION TO IMF, WORLD BANK, AND U.S. POLICY

DECREE 444, POLITICAL REPRESSION, FOREIGN LOANS, AND FOREIGN INVESTMENT

CABINET CRISIS, STABILIZATION, AND SOCIAL UNREST

IMF POLICY AND THE PRESIDENTIAL ELECTION OF 1970

PART III CHILE

6 Chile's Struggle for Financial Stability: Monetarism and Beyond

GONZÁLEZ VIDELA AND U.S. FOREIGN POLICY

THE ALESSANDRI AND VIAL BILLS, AND THE UN MISSION

THE IMF MISSION AND THE MONETARIST PLAN

FOREIGN LOANS AND U.S.-CHILE RELATIONS DURING THE KOREAN WAR

7 Hyperinflation under Ibañez, the Multilateral Banks, and U.S. Foreign Policy

IBAÑEZ'S POPULISM AND THE INTERNATIONAL FINANCIAL INSTITUTIONS

GROWTH VERSUS STABILITY: THE FINANCIAL CRISIS OF 1953 AND THE ROSSETTI PLAN

DEVALUATION, ABORTED STABILIZATION, AND THE POLITICS OF COPPER

THE FINANCIAL CRISIS OF 1954 AND THE ROAD TO AUSTERITY

ANTECEDENTS TO THE KLEIN AND SAKS MISSION AND SOCIAL UNREST

THE WORLD BANK LOAN OF 1957 AND THE TERMS OF TRADE

KLEIN AND SAKS UNDER ATTACK AND THE IMF STANDBY ARRANGEMENT OF 1958

8 Foreign Borrowing, Stabilization, and Developmentalism under the Alessandri Regime

ALESSANDRI'S PROMISE OF GROWTH AND STABILITY

THE FIGUEROA MISSION

FOREIGN LOANS AND FOREIGN INVESTMENT

ANTECEDENTS TO THE ALLIANCE FOR PROGRESS

THE COPPER INDUSTRY AND THE TEN-YEAR PLAN

RESISTANCE TO REFORM AND THE ANTECEDENTS TO THE DEVALUATION OF 1962

THE DEVALUATION OF 1962 AND REACTION TO STABILIZATION

9 The "Revolution in Liberty" versus the International Financial Institutions

EDUARDO FREI MONTALVA AND THE PROMISE OF REFORM.

REGIONAL INTEGRATION, THE PARIS CLUB, AND IMF RELATIONS WITH THE FREI REGIME

REFORMIST DEVELOPMENTALISM VERSUS MONETARISM: FREI AND THE IMF

THE GRUENING REPORT AND THE RETURN OF INFLATION

CHILEAN WAGE POLICY AND IMF REACTION

Conclusions

COLOMBIA

CHILE

Notes

Bibliography

ARCHIVES

PUBLISHED DOCUMENTS

PUBLISHED WORKS AND DISSERTATIONS

PUBLISHED WORKS ON CHILE

PUBLISHED WORKS ON COLOMBIA

Index

About the Author.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

ISBN:

9798216021872

9786610373765

9781280373763

1280373768

9780313012181

0313012180

OCLC:

52768883