Talk:United Nations Economic Commission for Latin America and the Caribbean

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thread_title: Notes

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thread_title:  External links modified 

message: The formation of the United Nations Economic Commission for Latin America (ECLA) was crucial to the beginning of “Big D development”. Many economic scholars attribute the founding of the ECLA and its policy implementation in Latin America for the subsequent debates on structuralism and dependency theory. Although forming in the post-war period, the historic roots of the ECLA trace back to political movement made long before the war had begun. 
	Before World War II, the perception of economic development in Latin America was formulated primarily from colonial ideology. This perception, combined with the Monroe Doctrine that asserted the United States as the only foreign power that could intervene in Latin American affairs, led to substantial resentment in Latin America. In the eyes of those living in the continent, Latin America was considerably economically strong; most had livable wages and industry was relatively dynamic.. After the Great Depression however, United States economists, such as Eugene Staley, called for the industrialization of the "non-colonial South" so that integration into the global market was ensured. Staley and many of his colleagues also asserted that foreign aid as well as state intervention was necessary for Latin American countries, such as Peru, to sustain their new place in the international labor force (Rock, 98).
During the interwar period, The United States and its allies reached an agreement on the necessity to reshape global trade and payment systems as world trade has dropped by 65 percent in value during the years between 1929 and 1933.<ref><ref> Keynes and other economists believed that in order to implement free trade in manufacture, a globally encompassing economic policy needed to be implemented and that cooperating countries needed to evade devastating fluctuation in good and service pricing<ref><ref>. This concern of a need for economic restructuring was taken up by the League of Nations and manifested in a document drawn up by Stanley Bruce and presented to the League in 1939. This in turn strongly influenced the creation of the United Nations Economic and Social Committee in 1944. Although it was a largely ineffective policy development initially, the formation of the ECLA proved to have profound effects in Latin America in following decades. For example, by 1955, Peru was receiving $28.5 million in loans per ECLA request. Most of these loans were utilized as means to finance foreign exchange costs, creating more jobs and heightening export trade. To investigate the extent to which this aid was supporting industrial development plans in Peru, the ECLA was sent in to study its economic structure. In order to maintain stronghold over future developmental initiatives, the ECLA and its branches continued providing financial support to Peru to assist in the country’s general development.
Nicolelaporte (talk) 01:28, 10 October 2016 (UTC)
thread_title:  ECLA in relation to Development Discourse and Dependency Theory