Shane Edwards
Biographic Data
| ID | 93979 |
|---|---|
| NAME | Shane Edwards |
| GIVEN NAMES | Shane |
| FAMILY NAME | Edwards |
| SIGNATURE | EDWARDS S |
| AFFILIATIONS | University of California, Los Angeles |
| ORCID | 0000-0002-3249-9702 |
| VERIFIED | Yes |
| TOTAL WORKS | 56 |
| TOTAL CITATIONS | 325 |
| AUTHOR COUNT | 58 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1983 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 10 |
Credibility and precommitment in socialist constitutionalism
One Hundred Years of Exchange Rate Economics at the University of Chicago
In this paper I analyze the work on exchange rates and external imbalances by University of Chicago faculty members during the university’s first 100 years, 1892 to 1992. Many people associate Chicago’s views with Milton Friedman’s advocacy for flexible exchange rates. But, of course, there was much more than that, including the work of J. Laurence Laughlin on bimetallism, Jacob Viner on the balance of payments, Lloyd Metzler on transfers, Harry …
Expropriation Without Compensation
In this essay, I analyse the nationalisation of large copper mines during Salvador Allende's socialist government in Chile in the 1970s. This is one of the earliest cases ‘nationalization without compensation’. Chile's legal argument was based on the novel idea that ‘adequate’ payment should be calculated as book value minus ‘excessive profits’. In turn, excessive profits were defined, for every year, as profits above 12% of book value. I analyse…
Inflation and the Corruption of Currency in Latin America
In this article I analyze Salvador Allende’s economic program and policies. I argue that the explosion of inflation during his administration (above 1,500% on a six-month annualized measure) was predictable, and I show that the government’s response to it was political. I postulate that runaway inflation generated major disaffection among the middle class and that that unhappiness paved the way to Pinochet’s coup d’état in 1973
Milton Friedman and Exchange Rates
This article investigates how Milton Friedman's views on exchange rates in emerging nations evolved through time. Early on he supported flexible exchange rates for most less developed countries. He endorsed several forms of flexibility, including auctions and the "crawling peg." Starting in the early 1970s, he favored a system characterized by fixed rates and no central banks. From that point on he argued that while flexible rates were the prefer…
Milton Friedman in Chile
We analyze Milton Friedman’s two visits to Chile, in March 1975 and November 1981. We rely on a number of sources, including Friedman’s archives, press archives in Chile and the rest of the world, interviews, and the papers and recollections of some of those who accompanied Friedman during his meeting with Pinochet. Although Friedman’s 1975 visit has been widely discussed, his 1981 visit has been largely neglected. However, this visit was particu…
On Latin American Populism, and Its Echoes around the World
In this article, I discuss the ways in which populist experiments have evolved historically. Populists are charismatic leaders who use a fiery rhetoric to pitch the interests of "the people" against those of banks, large firms, multinational companies, the International Monetary Fund, and immigrants. Populists implement redistributive policies that violate the basic laws of economics, and in particular budget constraints. Most populist experiment…
Gold, the Brains Trust, and Roosevelt
In this article I revisit the period leading to the abandonment of the gold standard by the US government in 1933, and I investigate whether there was a preconceived plan to take the country off gold. My conclusion is that in 1932, during the primary and presidential campaigns, neither Roosevelt nor his influential inner circle, a group known as the Brains Trust, had very strong views on gold or the dollar. They did believe in the need to experim…
African Successes, Volume IV
Studies of African economic development frequently focus on the daunting challenges the continent faces. From recurrent crises to ethnic conflicts and long-standing corruption, a raft of deep-rooted problems has led many to regard the continent as facing many hurdles to raise living standards. Yet Africa has made considerable progress in the past decade, with a GDP growth rate exceeding five percent in some regions. The African Successes series l…
African Successes, Volume II
Studies of African economic development frequently focus on the daunting challenges the continent faces. From recurrent crises to ethnic conflicts and long-standing corruption, a raft of deep-rooted problems has led many to regard the continent as facing many hurdles to raise living standards. Yet Africa has made considerable progress in the past decade, with a GDP growth rate exceeding five percent in some regions. The African Successes series l…
Toxic Aid
Toxic Aid Economic Collapse And Recovery In Tanzania
This text provides an economic history of Tanzania since independence in 1961. It covers the policies of African Socialism and the Arusha Declaration, the collapse of the early 1980s, the relationship with the IMF, and the reforms of the 1990s and 2000s.
Tanzania’s Market-oriented Reforms and Economic Performance
What the international organizations—World Bank and IMF—say today (2013) about Tanzania. It is argued in this chapter that this “official story” is biased and incomplete; it seriously lacks a historical perspective.
Maori Men and the Grief of Sids
The loss of a baby is always hard to cope with and the grieving process is likely to be difficult. Interventions to work with Sudden Infant Death Syndrome (SIDS) families have improved grieving outcomes for many but the needs of Maori fathers are not well understood or catered to by existing services. This article presents narrative data from Maori fathers who have lost a baby to SIDS and analyzes these narratives in the context of the literature…
Latin America's Decline
In this paper I analyze Latin America's very long term economic performance (since the early 18th century), and I compare it with that of the United States, Australia, New Zealand and the countries of Western Europe.I begin with an analysis of long term data and an attempt at determining when the region's decline really began.The next section deals with the relation between the strength of institutions since colonial rule and the region's economi…
The Moral Fog of Progress ‐ Fall 2003
Indigenous Epistemologies in Tertiary Education
This paper contends that Indigenous epistemologies in educational curriculum can serve as powerful counter hegemonic action to dominant discourses. It then discusses how the implementation and application of Indigenous epistemologies in adult educational curricula can support intellectual sovereignty and positive identity construction for Indigenous wellbeing
Economic Adjustment and Exchange Rates in Developing Countries
Crises and Growth
En este artículo uso datos históricos para analizar la relación entre crisis y crecimiento en América Latina. Calculo en cuanto se ha reduci-do el PIB per capita en la región como consecuencia de las recurrentes crisis externas. Analizo, también, los principales determinantes de las crisis de balanzas de pagos. La principal conclusión es que es poco probable que América Latina experimente, en promedio, una mejora impor-tante en su crecimiento en …
Maori family culture
This paper reports on a study designed to bring the voices of young people directly into the social science literature regarding environmental influences on well-being. We analyse accounts from young Maori about their families and the roles families play in order to focus on strengths and positive resources for the promotion of youth wellbeing. Interview data were gathered from 12 females and 15 males, aged between 12 and 25 years, resident in th…
Productivity dynamics
Interest-Rate Volatility in Emerging Markets
We use high-frequency interest-rate data for a group of Latin American and Asian countries to analyze the behavior of volatility through time. We focus on volatility comovements across countries. Our analysis relies on univariate and bivariate switching volatility models. We compare the results from the switching models with those from rolling-standard-deviation models. We argue that the switching models are superior. Our results indicate that hi…
Currency crises and contagion
Yes. It Hurts
Journal Article Yes. It Hurts Get access Molly Nesbit : Their Common Sense ( Black Dog : London , 2000 ), 372 pp., paperback ISBN 1-901033-81-3 , £19.95. Steve Edwards Steve Edwards Search for other works by this author on: Oxford Academic Google Scholar Oxford Art Journal, Volume 25, Issue 1, 2002, Pages 127–136, https://doi.org/10.1093/oxartj/25.1.127 Published: 01 March 2002
Capital Mobility, Capital Controls, and Globalization in the Twenty-First Century
The purpose of this paper is to analyze the effects of economic openness and increasing capital mobility on the economic growth. The author argues that "anti-globalization" views are based on incomplete evidence and tend to ignore important historical evidence. In the pare the author discusses the relationship between market-distortions and economic growth according to the economic theory. The author also deals with the debate on the "sequencing"…
Crisis and Reform in Latin America
During the past few years, the Latin American countries have gone through major economic reforms that have greatly changed the region's economic landscape. What started as an isolated and slow process -- Chile the sole reformer in the 1970s -- has become a sweeping movement affecting virtually every country in the region. The economic system that had emerged in the 1930s, based on heavy government intervention, protectionism, and broad regulation…
Openness, Productivity and Growth
For over a century social analysts have debated the connection between trade policy and economic performance. This controversy continues today, even as the world is experiencing an unprecedented period of trade liberalization, and in spite of numerous empirical studies that claim to have found a positive effect of openness on growth. Two issues have been at the core of these controversies: first, until recently theoretical models had been unable …
The Macroeconomics of Populism in Latin America
Macroeconomic populism
Monetarism and Liberalization
Trade orientation, distortions and growth in developing countries
Why are Latin America's savings rates so low? An international comparative analysis
Maori family culture
This paper reports on a study designed to bring the voices of young people directly into the social science literature regarding environmental influences on well-being. We analyse accounts from young Maori about their families and the roles families play in order to focus on strengths and positive resources for the promotion of youth wellbeing. Interview data were gathered from 12 females and 15 males, aged between 12 and 25 years, resident in th…
How Effective are Capital Controls
A number of authors have recently argued that, in order to avoid financial instability, emerging countries should rely on capital controls. Two type of controls have been considered: controls on capital outflows, and controls on capital inflows. In this paper I review the historical evidence on the effectiveness of these two type of controls. I argue that controls on outflows have been ineffective. They are circumvented and breed corruption. I al…
Real and monetary determinants of real exchange rate behavior
The Macroeconomics of Populism in Latin America
Journal Article The Macroeconomics of Populism in Latin America Get access John Weeks John Weeks Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 103, Issue 420, 1 September 1993, Pages 1325–1326, https://doi.org/10.2307/2234264 Published: 01 September 1993
On Latin American Populism, and Its Echoes around the World
In this article, I discuss the ways in which populist experiments have evolved historically. Populists are charismatic leaders who use a fiery rhetoric to pitch the interests of "the people" against those of banks, large firms, multinational companies, the International Monetary Fund, and immigrants. Populists implement redistributive policies that violate the basic laws of economics, and in particular budget constraints. Most populist experiment…
Coffee, money and inflation in Colombia
The Political Economy of Inflation and Stabilization in Developing Countries
This paper deals with political aspects of inflation and stabilization in developing countries. It is argued that by ignoring political considerations, traditional models failed to fully understand the dynamics of inflation. Several newer models are discussed, • including models based on strategic government behavior and war of attrition models. Empirical results obtained with developing countries data are discussed in detail. Date on Chile are u…
Stabilization with Liberalization
Indigenous Epistemologies in Tertiary Education
This paper contends that Indigenous epistemologies in educational curriculum can serve as powerful counter hegemonic action to dominant discourses. It then discusses how the implementation and application of Indigenous epistemologies in adult educational curricula can support intellectual sovereignty and positive identity construction for Indigenous wellbeing
Controls on Capital Inflows
Latin America's Underperformance
In the last few years Latin American economies have undergone a remarkable transformation. Nations that sneered at the market system and pursued protectionist policies have suddenly embraced structural re forms aimed at stabilizing their economies, deregulating business prac tices, and becoming integrated with the rest of the world. After the Mex ican peso crisis of December 1994, many observers predicted this process would end or, in some nation…
Capital Mobility, Capital Controls, and Globalization in the Twenty-First Century
The purpose of this paper is to analyze the effects of economic openness and increasing capital mobility on the economic growth. The author argues that "anti-globalization" views are based on incomplete evidence and tend to ignore important historical evidence. In the pare the author discusses the relationship between market-distortions and economic growth according to the economic theory. The author also deals with the debate on the "sequencing"…
Financial deregulation and segmented capital markets
Maori Men and the Grief of Sids
The loss of a baby is always hard to cope with and the grieving process is likely to be difficult. Interventions to work with Sudden Infant Death Syndrome (SIDS) families have improved grieving outcomes for many but the needs of Maori fathers are not well understood or catered to by existing services. This article presents narrative data from Maori fathers who have lost a baby to SIDS and analyzes these narratives in the context of the literature…
Volatility dependence and contagion in emerging equity markets
A Capital Idea? Reconsidering a Financial Quick Fix
Massive capital flows have been at the heart of every major currency crisis in the 1990s. Whether Mexico in 1994, Thailanc in 1997, Russia in 1998, or Brazil in 1999, the stories are depressingly similar. High domestic interest rates, perceived stability stemming from rigid exchange rates, and apparently rosy economic prospects all attracted foreign funds into these emerging markets, lifting stock prices and helping finance bloated current accoun…
Real Exchange Rates, Devaluation, and Adjustment
Journal Article Real Exchange Rates, Devaluation, and Adjustment: Exchange Rate Policy in Developing Countries Get access Real Exchange Rates, Devaluation, and Adjustment: Exchange Rate Policy in Developing Countries. By Sebastian Edwards. (Cambridge, Mass and London: The MIT Press, 1989. Pp. xi + 371. £29.25 hardback. ISBN 0 262 05039 0.) Maxwell J. Fry Maxwell J. Fry University of Birmingham Search for other works by this author on: Oxford Acad…
The Demand for International Reserves and Exchange Rate Adjustments
In this paper the relationship between the demand for international reserves and exchange rate adjustments is empirically investigated for agroup of LDC's. It is shown that countries that have maintained a fixed exchange rate for a long period of time have a different demand function than countries that have occasionally used exchange rate adjustments for correcting payments imbalances. The dynamics of the adjustment for both groupsof countries a…
The Demand for International Reserves and Exchange Rate Adjustments
In this paper the relationship between the demand for international reserves and exchange rate adjustments is empirically investigated for agroup of LDC's. It is shown that countries that have maintained a fixed exchange rate for a long period of time have a different demand function than countries that have occasionally used exchange rate adjustments for correcting payments imbalances. The dynamics of the adjustment for both groupsof countries a…
The Demand for International Reserves and Monetary Equilibrium
Sebastian Edwards, The Demand for International Reserves and Monetary Equilibrium: Some Evidence From Developing Countries, The Review of Economics and Statistics, Vol. 66, No. 3 (Aug., 1984), pp. 495-500
Coffee, money and inflation in Colombia
Latin-America experiments in neo-conservative economics
Stabilization with Liberalization
Economic Adjustment and Exchange Rates in Developing Countries
In spite of the attention paid exchange rates in recent economic debates on developing countries, relatively few studies have systematically analyzed in detail the various ramifications of exchange rate policy in these countries. In this new volume from the National Bureau of Economic Research, leading economists use rigorous models to tackle various exchange rate issues, while also illuminating policy implications that emerge from their analyses…
Are Devaluations Contractionary
Recently a number of authors have criticized the role of devaluations in traditional stabilization programs.It has been argued that, contrary to the traditional view, devaluations are contractionary, and generate a decline in aggregate output.In spite of the renewed theoretical interest in the possible contractionary effects of devaluations, the empirical evidence on the subject has been quite sketchy.In this paper the Khan and Knight (1981) mode…
Introduction to Growth, Reform, and Adjustment
Monetarism in Chile, 1973-1983
Financial deregulation and segmented capital markets
Real and monetary determinants of real exchange rate behavior
Temporary Terms-of-Trade Disturbances, the Real Exchange Rate and the Current Account
In this paper a general equilibrium intertemporal model with optimizing consumers and producera ia developed to analyze how the temporary term's of trade diaturbances affect the path of real exchange rates and the current account
Exchange Controls, Devaluations, and Real Exchange Rates
Monetarism and Liberalization
The Debt Crisis and Economic Adjustment in Latin America
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Macroeconomic populism
The Macroeconomics of Populism in Latin America
By populism, this paper refers to an economic approach that emphasizes growth and income redistribution and deemphasizes the risks of inflation and deficit finance, external constraints and the reaction of economic agents to aggressive nonmarket policies. It analyzes two instances of populism - Chile under Allende and Peru under Garcia. These experiences are described in detail, not as a righteous assertion of conservative economics, but as a war…
Trade orientation, distortions and growth in developing countries
Monetarism and Liberalization
Journal Article Monetarism and Liberalization: The Chilean Experiment: With a New Afterward Get access Monetarism and Liberalization: The Chilean Experiment: With a New Afterword. By Edwards (Sebastian) and Cox Edwards (Alejandra). (Chicago and London: The University of Chicago Press, 1991. Pp. xix + 250. £11.25 paperback, US $15.95 paperback. ISBN 0 226 18489 7.) J. M. Albala-Bertrand J. M. Albala-Bertrand Queen Mary and Westfield College Search…
Real Exchange Rates, Devaluation, and Adjustment
Journal Article Real Exchange Rates, Devaluation, and Adjustment: Exchange Rate Policy in Developing Countries Get access Real Exchange Rates, Devaluation, and Adjustment: Exchange Rate Policy in Developing Countries. By Sebastian Edwards. (Cambridge, Mass and London: The MIT Press, 1989. Pp. xi + 371. £29.25 hardback. ISBN 0 262 05039 0.) Maxwell J. Fry Maxwell J. Fry University of Birmingham Search for other works by this author on: Oxford Acad…
The Macroeconomics of Populism in Latin America
The Macroeconomics of Populism in Latin America
Journal Article The Macroeconomics of Populism in Latin America Get access John Weeks John Weeks Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 103, Issue 420, 1 September 1993, Pages 1325–1326, https://doi.org/10.2307/2234264 Published: 01 September 1993
The Political Economy of Inflation and Stabilization in Developing Countries
This paper deals with political aspects of inflation and stabilization in developing countries. It is argued that by ignoring political considerations, traditional models failed to fully understand the dynamics of inflation. Several newer models are discussed, • including models based on strategic government behavior and war of attrition models. Empirical results obtained with developing countries data are discussed in detail. Date on Chile are u…
Why are Latin America's savings rates so low? An international comparative analysis
Crisis and Reform in Latin America
During the past few years, the Latin American countries have gone through major economic reforms that have greatly changed the region's economic landscape. What started as an isolated and slow process -- Chile the sole reformer in the 1970s -- has become a sweeping movement affecting virtually every country in the region. The economic system that had emerged in the 1930s, based on heavy government intervention, protectionism, and broad regulation…
Economics (47 works) · Political science (27 works) · Monetary economics (24 works) · Economic Theory and Policy (23 works) · Global Financial Crisis and Policies (21 works) · Law (20 works) · Latin Americans (17 works) · Macroeconomics (17 works) · Exchange rate (14 works) · Keynesian economics (14 works)