a popular but controversial strategy to redistribute land to peasant farmers.
Throughout the 20
century, various states redistributed land from large estates or granted title
from vast public lands in order to reallocate resources to the poor and stimulate development.
Agrarian reform occurred in various forms, from awarding individual plots or communally held
land to creating state-run collective farms.
the largest intermontane plateau in the Andes, which straddles Peru and Bolivia and
ranges in elevation from 10,000 to 13,000 feet
Central American Free Trade Association (CAFTA)
- a trade agreement between the US and
Guatemala, El Salvador, Nicaragua, Honduras, Costa Rica, and the Dominican Republic to
reduce tariffs and increase trade between member countries
- a popular theory to explain patterns of economic development in Latin
America. Its central premise is that underdevelopment was created by the expansion of European
capitalism into the region that served to develop “core” countries in Europe and impoverish and
make dependent peripheral areas such as Latin America.
an economic strategy in which a country adopts the US dollar as its official
currency. A country can be partially dollarized, using US dollars alongside its national currency,
or fully dollarized, in which case the US dollar becomes the only medium of exchange and the
country gives up its own national currency. Panama fully dollarized in 1904; more recently,
Ecuador fully dollarized in 2000.
an abnormally large warm current that appears off the coast of Ecuador and Peru in
December. During an El Niño year, torrential rains can ring devastating floods along the Pacific
coast and drought conditions in the interior continents of the Americas.
the conversion of tropical forest into pasture for cattle ranching. Typically this
process involves introducing species of grasses and cattle, mostly from Africa.
a much debated concept that presupposes a dual economic system consisting of
formal and informal sectors. The informal sector includes self employed, low wage jobs that are
usually unregulated and untaxed. Street vending, shoe shining, artisan manufacturing, and self
built housing are considered part of the informal sector. Some scholars include illegal activities
such as drug smuggling and prostitution in the informal economy.
a large estate or landholding
assembly plants on the Mexican border built by foreign capital. Most of their
products are exported in the US.
an urban conglomeration of more than 10 million people
he Southern Common Market, established in 1991, which calls for free trade among
member states and common external tariffs for nonmember states. Argentina, Paraguay, Brazil,
and Uruguay are members; Chile is an associate member.