Inflation, currency substitution and dollarization: The case of Argentina

This dissertation discusses the relationship between inflation, currency substitution and dollarization that has taken place in Argentina for the past several decades.^ First, it is shown that when consumers are able to hold only domestic monetary balances (without capital mobility) an increase in the rate of inflation will produce a balance of payments deficit. We then look at the same issue but with heterogeneous consumers, this heterogeneity being generated by non-proportional lump-sum transfers.^ Second, we discussed some necessary assumptions related to currency substitution models and concluded that there was no a-priori conclusion on whether currencies should be assumed to be "cooperant" or "non-cooperant" in utility. That is to say, whether individuals held different currencies together or one instead of the other.^ Third, we went into discussing the issue of currency substitution as being a constraint on governments' inflationary objectives rather than a choice of those governments to avoid hyperinflations. We showed that imperfect substitutability between currencies does not "reduce the scope for rational (hyper)inflationary processes" as it had been previously argued. It will ultimately depend on the parametrization used and not on the intrinsic characteristics of imperfect substitutability between currencies.^ We further showed that in Argentina, individuals have been able to endogenize the money supply by holding foreign monetary balances. We argued that the decision to hold foreign monetary balances by individuals is always a second best due to the trade-off between holding foreign monetary balances and consumption. For some levels of income, consumption, and foreign inflation, individuals would prefer to hold domestic monetary balances rather than foreign ones.^ We then modeled the distinction between dollarization and currency substitution. We concluded that although dollarization is necessary for currency substitution to take place, the decision to use foreign monetary balances for transactions purposes is largely independent from the dollarization process.^ Finally, we concluded that Argentina should not fully dollarize its economy because dollarization is always a second best to using a domestic currency. Further, we argued that a fixed exchange system would be better than a flexible exchange rate or a "crawling-peg" system because of the characteristics of the political system and the possibilities of "mass praetorianism" to develop, which is intricately linked to "populist" solutions. ^

An evaluation of exchange rate policy and economic adjustment in Nicaragua, 1993--1995

Since the late 1970's, but particularly since the mid-1980s, the economy of Nicaragua has had persistent and large macroeconomic imbalances, while GDP per-capita has declined to 1950s' levels. By the second half of the 1990s, huge fiscal deficits and a reduction of foreign financing resulted in record hyperinflation. The Sandinista government's (1979–1990) harsh stabilization program in 1988–89 had only modest and short-lived success. It was doomed by their inability to lower the public sector deficit due to the war, plus diminishing financial support from abroad. Hyperinflation stopped only after their 1990 electoral defeat ended the war and massive aid began to flow in. Five years later, macroeconomic stability is still very fragile. A sluggish recovery of export agriculture plus import liberalization, have impeded a reduction of huge trade and current account deficits. Facing the prospects of diminished aid flows, the government's strategy has hinged on the achievement of a real devaluation through a crawling-peg adjustment of the nominal rate. However, at the end of 1995 the situation of the external accounts was still critical, and the modest progress achieved was attributable to cyclical terms-of-trade improvement and changes in the political outlook of agricultural producers. Using a Computable General Equilibrium Model and a Social Accounting Matrix constructed for this dissertation, the importance of structural rigidities in production and demand in explaining such outcome is shown. It is shown that under the plausible structural assumptions incorporated in the model, the role of devaluation in the adjustment process is restricted by structural rigidities. Moreover, contrary to the premise of the orthodox economic thinking behind the economic program, it is the contractionary effect of devaluation more than its expenditure-switching effects that provide the basis for is use in solving the external sector's problems. A fixed nominal exchange rate is found to lead to adverse results. The broader conclusion that emerges from the study is that a new social compact and a rapid increase in infrastructure spending plus fiscal support for the traditional agro-export activities is at the center of a successful adjustment towards external viability in Nicaragua. ^

The empire beats on: Oyo, Bata drums and hegemony in nineteenth-century Cuba

The Lukumí people of Cuba, currently known as Yoruba, are descendants of one of the mightiest West African kingdoms, the Oyo, Empire. The Oyo-Yoruba were important cultural contributors to certain areas of the New World such as Cuba, Brazil, Trinidad, and to some degree Haiti and the Lesser Antilles. Anthropologist William Bascom has said that “no African group has had greater influence on New World culture than the Yoruba.” ^ After the devastation of the empire around 1825, two new Oyos resuscitated. The first, New Oyo, was established about 80 miles south of the ancient site around 1830. The second Oyo was instituted on the other side of the Atlantic Ocean, in the city of Havana and its surrounding towns. Much of Oyo lie, as ancient Oyo is now called, was transported to the New World, reformed and adapted according to its new surroundings, and, it preserved its reign over its “subjects” through the retention and dissemination of its cultural and religious practices. ^ Using an interdisciplinary approach, this investigation will argue that of all the African groups brought to Cuba, the Oyo-Yoruba were the most influential in shaping Afro-Cuban culture since their introduction in the nineteenth century. The existence of batá drums in Cuba and the cultural components of this musical genre will serve as one of many examples to illustrate the vitality of Oyo cultural hegemony over Afro-Cubans. It is arguable that these drums and the culture that surrounded them were very important instruments used by the Oyo to counter the acculturation of many Africans in Cuba. Likewise, this culture became acculturative in itself by imposing its religious world views on non-Oyo ethnics and their descendants. Oral histories and narratives collected among Lukumí practitioners on the island and abroad have been invaluable archives to supplement and/or complement primary and secondary sources of information. ^

Women defending themselves: Cuban Romantic feminine voices (poetry and short stories)

Throughout history, women have played an important role in literature. Nevertheless, since Sappho's poetry until now, feminine voices have had to struggle for recognition of their works. ^ Before the nineteenth century, women were almost ignored in Spanish literature. Society kept them as “ángeles de la familia,” taking care of their homes, husbands, and children. Some of them, such as María de Zayas y Sotomayor in Spain and Sor Juana Inés de la Cruz in Mexico, complained about their situation in their writings. However, they expressed their fight not as a generation but as individuals. ^ In the nineteenth century, the ideas and ideals of Romanticism, were brought to Latin America from Europe. Cuba was among those countries where the new movement took roots. Initiated by Gertrudis Gómez de Avellaneda, a group of women began to participate in literary reunions, and to found newspapers and magazines where works authored by women, dedicated to feminist ideas, were published. They indeed through literature started to live out womanhood in order to intellectually leave the ideological prisons where society had been keeping them. ^ This study scans the literary works of all Romantic women writers in Cuba. It specifically analyzes poetry and short stories, and investigates how these authors expressed themselves in their works against the patriarchal society, where they lived and wrote their books. An eclectic critical method has been used. ^ Findings were very revealing. Only three of the fourteen writers studied in my dissertation had been previously mentioned by major critics. Most of them had been ignored. However, the greatest discovery was that they prompted something new: For the first time they projected themselves as a group, as a collective consciousness, and this fact established a difference with former women writers in Cuban literature before Romanticism. In other words, they produced a “Renaissance” in Cuba's literature. In spite of how they lived between 1820 and 1900, their struggles for women's rights have linked them to our current times. ^

Patronage and bribery in sixteenth-century Peru: The government of Viceroy Conde del Villar and the visita of Licentiate Alonso Fernandez de Bonilla

This dissertation deals with the nature of the political system in sixteenth-century colonial Spanish America through an analysis of the administration of Viceroy Fernando de Torres y Portugal, Conde del Villar, in Peru (1585–1590). The political conflicts surrounding his government and the accusations of bribery leveled against him and members of his household provide the documentation for a case study in a system in which prestige and authority were defined through a complex network of patronage and personal relationships with the Spanish monarch, the ultimate source of legitimate power. ^ This dissertation is conceptualized using categories presented in Max Weber's theory on the nature of political order and authority in the history of human societies and the definition of the patrimonial system as one in which the power of he king confers legitimacy and authority on the whole political structure. ^ The documentary base for this dissertation is an exceptionally detailed and complete record related to the official administrative review ( visita) ordered by Philip II in 1588 to assess the government of Viceroy Torres y Portugal. Additionally, letters as well as other primary and secondary sources are scattered in repositories on both sides of the Atlantic. ^ The study of this particular case offers an excellent opportunity to gain an understanding of a political order in which jurisdictional boundaries between institutions and authorities were not clearly defined. The legal system operating in the viceroyalty was subordinated to the personal decisions of the king, and order and equilibrium were maintained through the interaction of patronage networks that were reproduced at all levels of the colonial society. ^ The final charges against Viceroy Conde del Villar, as well as their impact on the political career of those involved in the accusations, reveal that situations today understood to constitute bribery had a different meaning in the context of a patrimonial order. ^

Smallpox vaccination, the establishment of vaccination boards, and state formation in Venezuela and Cuba in the nineteenth century

The Balmis expedition, sent to America by the Spanish monarch Charles IV in 1803, was a watershed in the history of Medicine as it made smallpox vaccination available for the first time, effectively prevented the disease from spreading, and saved thousands of lives. Immunization required complex administrative measures and political decisions including the creation of Vaccination Boards, all of which involved different sectors of Spanish American society. This dissertation argues that at the beginning of the nineteenth century the Spanish American colonial state had reached some level of maturity and cohesion that made it capable of executing this complex project in public health. The significance of this mobilization and the every-day experience in implementing this new public health measure is the center of this work. It is situated geographically in Venezuela and Cuba, entities which took different evolutionary paths in the nineteenth century. The organization and functioning of Vaccination Boards in these two areas are used to illustrate the state formation process, and sharp political differences in this critical period.

Liberalization without decentralization: Haiti under Namphy and Delatour, 1986–1987

Following Haitian President Jean-Claude Duvalier's flight into exile in February 1986, the President of Haiti's provisional Conseil National de Gouvernement (CNG), Lieutenant General Henri Namphy, and his Minister of Finance, Leslie Delatour, enacted liberal reforms. This study examined their initial doctrine, decrees, and institutions for democratization and free markets, within a historical context of over-centralization and exclusion. Its purpose was to explore the contradiction and consequences of pursuing liberalization by decree, without significant decentralization. The author extracted CNG doctrine from speeches, legislation, and economic records. He then juxtaposed it with the adverse results of market reforms and popular reactions gathered from nine Haitian newspapers and two archival collections. He found that CNG doctrine and institutions were inadequate for resolving exclusion and popular discontent. Rather the deficiency of market reforms and the insufficiency of representative institutions exacerbated exclusion, which the author identified as the source of confrontation and violence in 1987.

Placing immigrant incorporation: Identity, trust, and civic engagement in Little Havana

Immigrant incorporation in the United States has been a topic of concern and debate since the founding of the nation. Scholars have studied many aspects of the phenomenon, including economic, political, social, and spatial. The most influential paradigm of immigrant incorporation in the US has been, and continues to be, assimilation, and the most important place in and scale at which incorporation occurs is the neighborhood. This dissertation captures both of these integral aspects of immigrant incorporation through its consideration of three dimensions of assimilation – identity, trust, and civic engagement – among Latin American immigrants and American-born Latinos in Little Havana, a predominantly immigrant neighborhood in Miami, Florida. Data discussed in the dissertation were gathered through surveys and interviews as part of a National Science Foundation-funded study carried out in 2005-2006. The combination of quantitative and qualitative data allows for a nuanced understanding of how immigrant incorporation is occurring locally during the first decade of the twentieth century. Findings reveal that overall Latin American immigrants and their American-born offspring appear to be becoming American with regard to their ethnic and racial identities quickly, evidenced through the salience and active employment of panethnic labels, while at the same time they are actively reshaping the identificational structure. The Latino population, however, is not monolithic and is cleaved by diversity within the group, including country of origin and socioeconomic status. These same factors impede group cohesion in terms of trust and its correlate, community. Nevertheless, the historically dominant ancestry group in Little Havana – Cubans – has been able to reach notable levels of trust and build and conserve a more solid sense of community than non-Cuban residents. With respect to civic engagement, neighborhood residents generally participate at rates lower than the overall US population and ethnic subpopulations. This is not the case for political engagement, however, where self-reported voting registration and turnout in Little Havana surpasses that of most benchmarked populations. The empirical evidence presented in this dissertation on the case of Latinos in Little Havana challenges the ways that identity, trust, and civic engagement are conceptualized and theorized, especially among immigrants to the US.

Imah on the bimah: Gender and the roles of Latin American Conservative congregational rabinas

The aim of this research is to analyze the impact of gender on the work of Latin American rabinas within Conservative congregations in Latin America. The fact that women’s roles in Latin America and in Judaism have been traditionally linked to nurturing and caring serves as the point of departure for my hypothesis, which is that the role rabinas play within their congregations is also linked to those traits. In this research I utilize a social scientific approach and qualitative methodology, conducting personal interviews with the rabinas. While this work proves that Conservative congregations in Latin America are gendered, my research demonstrates that this gendered division of labor does not have a negative impact on the work of rabinas. On the contrary, by embracing attributes of womanhood and motherhood rabinas become imah (mother) on the bimah (pulpit), educating, caring, and nurturing their congregations in a special and unique way.^

Para subsistir dignamente: Alberto Yarini and the search for Cubanidad, 1882-1910

This study looks at the broader transformations in Cuban history through the case study of a single, yet symbolic, man, and proposes a new paradigm for understanding the dynamics of Cuban society and culture. It also examines the implications for Cuba’s aspiring national identity at the turn of the twentieth century, by detailing the interplay between fact and fiction in the story of Alberto Yarini: elite born; well-educated; politically and socially well-connected; powerful; and celebrated Cuban racketeer and chulo (pimp). Yarini was described as vibrant and triumphant at a time when other nation-building forces in Cuba were weak and ambivalent. A century after his dramatic death, Yarini became the quintessential public man in Cuban lore who symbolized a cubanidad (Cuban national identity) not defined in terms of the ideological hegemony of class, race, or gender, and who through his actions dispelled the ambivalence that plagued Cuban nationalism. Using archival documents, contemporary newspaper accounts, court records, memoirs, and published works, this study analyzes the confluence of national events and individual action in the formation of Cuban national identity. It contends that for Cuba, the failure of nation-building experiments resulted in an ambivalent national identity based on failed philosophical and political ideals of equality and prosperity. These ideals played out within the context of the realities of racial discrimination, political dissonance, and class and gender barriers. Instead of a cohesive sense of national character, for Cubans the result was a competing set of identities including a populist version that was defined through identification with antitypes and pseudo-heroes such as Alberto Yarini y Ponce de León (1882-1910), a rising politician and celebrated chulo of the early republic. The telling and retelling of his story has given rise to what has been termed the island nation’s first national myth – one that continues to evolve and grow in the twenty-first century. For many Cubans, the Yarini antitype provided an idealized national identity which in many ways was—and many argue continues to be— the expression of an elusive and ambivalent cubanidad.

Negotiating identities, striving for state recognition: Blacks in Córdoba, Argentina 1776–1853

Race in Argentina played a significant role as a highly durable construct by identifying and advancing subjects (1776–1810) and citizens (1811–1853). My dissertation explores the intricacies of power relations by focusing on the ways in which race informed the legal process during the transition from a colonial to national State. It argues that the State’s development in both the colonial and national periods depended upon defining and classifying African descendants. In response, people of African descendent used the State’s assigned definitions and classifications to advance their legal identities. It employs race and culture as operative concepts, and law as a representation of the sometimes, tense relationship between social practices and the State’s concern for social peace. This dissertation examines the dynamic nature of the court. It utilizes the theoretical concepts multicentric legal orders that are analyzed through weak and strong legal pluralisms, and jurisdictional politics, from the late eighteenth to early nineteenth centuries. This dissertation juxtaposes various levels of jurisdiction (canon/state law and colonial/national law) to illuminate how people of color used the legal system to ameliorate their social condition. In each chapter the primary source materials are state generated documents which include criminal, ecclesiastical, civil, and marriage dissent court cases along with notarial and census records. Though it would appear that these documents would provide a superficial understanding of people of color, my analysis provides both a top-down and bottom-up approach that reflects a continuous negotiation for African descendants’ goal for State recognition. These approaches allow for implicit or explicit negotiation of a legal identity that transformed slaves and free African descendants into active agents of their own destinies.

Disease and hygiene in the construction of a nation: The public sphere, public space, and the private domain in Buenos Aires, 1871–1910

The maturation of the public sphere in Argentina during the late nineteenth and early twentieth centuries was a critical element in the nation-building process and the overall development of the modern state. Within the context of this evolution, the discourse of disease generated intense debates that subsequently influenced policies that transformed the public spaces of Buenos Aires and facilitated state intervention within the private domains of the city’s inhabitants. Under the banner of hygiene and public health, municipal officials thus Europeanized the nation’s capital through the construction of parks and plazas and likewise utilized the press to garner support for the initiatives that would remedy the unsanitary conditions and practices of the city. Despite promises to the contrary, the improvements to the public spaces of Buenos Aires primarily benefited the porteño elite while the efforts to root out disease often targeted working-class neighborhoods. The model that reformed the public space of Buenos Aires, including its socially differentiated application of aesthetic order and public health policies, was ultimately employed throughout the Argentine Republic as the consolidated political elite rolled out its national program of material and social development.