Latin America is at a uniquely important juncture in its history and the history of development more generally. Neoliberal market-orientated policies are being called into question, growth has been volatile and equity has stayed the same or worsened. In Latin America there is no clear direction for change. This book presents an alternative development path for Latin America based on an East Asian model. East Asia remains the only developing region so far with high stable and equitable economic development. Based on in depth analysis and the presentation of new and unique material, this study provides a new perspective on the lessons of China's rapid development and examines relations between states and companies that have led to greater success by East Asian companies entering new international markets. More importantly, it highlights how Latin American politics can and must be transformed.
'In a "must read" for policy makers and analysts interested in fostering Latin American growth, Hira offers a pragmatic approach situated between the ideologies of socialism and neo-conservatism. Building on his analysis of East Asian successes, he outlines a new paradigm for LA growth through managed markets, involving a rare union of social, political, and economic analysis and initiatives.' Richard G. Lipsey, Simon Fraser University, Canada 'Despite its vast resources, Latin America has been mired in poor economic performance and underdevelopment, baffling the most lucid minds in the social sciences. This book offers a "new" alternative approach to the region’s perennial woes. Extrapolating from East Asia’s economic experiences, this study is a splendid piece of scholarship and policy analysis. It should be read and debated widely.' Félix E. MartÃn, Florida International University, USA '…confronts directly the thorny questions of Latin American development and advocates an East Asian-style model as the "new path" for the region. In his forcefully argued analysis, he offers his readers both much to agree with and much to disagree with, and in so doing opens up once again a crucial area of scholarly and policy debate that should command our sustained attention.' Nicola Phillips, University of Manchester, UK '…a fresh perspective on the political economies of East Asia and Latin America…this book is timely as the Washington Consensus falls out of fashion and Latin America begins the search for an alternative path of economic development.' David Arase, Pomona College, USA 'Without a doubt, Anil Hira's book is an important contribution in two senses. First, because it will contribute to the analysis and knowledge of economic relations between Latin America and Asia. Second, because it will be incalculably important when the time comes to re-evaluate neoliberal policies in the region.' European Review of Latin American and Caribbean Studies 'T
Contents: Preface; Why ideas and state leadership are the key variables in Latin American political economy; Why an active industrial policy is needed for development; Industrial policy lessons for Latin America from East Asia; Lessons from the rise of China: the continuing relevance of the East Asian model for Latin American industrial policy; Sectoral and political foundations for a new industrial policy path for Latin America; Putting institutions and sectoral policy to work: lessons from success stories in East Asia and Latin America; Bibliography; Index.