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Globalization in the 1990s provided both opportunities and challenges for developing and transition economies. Though for some, it offered the chance to achieve economic growth through active involvement in the integrated and liberalized world economy, it also increased their vulnerability to external shocks and volatility.
As a consequence, stakeholders at every level of the development and transition process – international organizations, national governments and the private sector – had to review their strategies in order to adjust to the new world economic environment. As the Mexican peso crisis of 1994-1995 and the Asian financial crisis of 1997-1998 showed dramatically, the cost of maladjustment was not only very high but it also affected many more stakeholders than before, due to the contagious effects of crises.
This revealing book analyzes the different methods employed to manage globalization and development. Bringing together an international team of contributors, including Barbara Stallings, Alicia Giron and J. C. Ferraz, it will prove to be a valuable resource for those involved in the fields of development economics and political economy.
List of Figures. List of Tables. List of Contributors. Preface. Introduction: Managing Development: Globalization, Economic Restructuring and Social Policy Part 1: Globalization and Global Governance 1. Managing Global Risks and Creating Prosperity: The Role of the IMF and Regional Financial Architectures 2. Globalization and Economic Development: The Role of Multilateral Development Banks 3. Is the International Trade Regime Contributing to Liberalization in Developing Countries? 4. The Governance of Global Issues Through Regionalism: Nafta as an Interface Between Multilateral and North-South Policies Part 2: Financial Crises and Restructuring 5. Financial Sector Development in Latin America and East Asia: A Comparison of Chile and South Korea 6. Restructuring the Financial and Corporate Sector: The South Korean Experience 7. Economic Performance, Crisis and Institutional Reforms in East Asia and Latin America 8. Business Groups as an Organizational Device for Economic Catch-Up 9. Will Inward Internationalization Foster Economic Development in Latin America? 10. Determinants and Effects of Foreign Direct Investment in Transition Economies Part 3: Social Policy in Transition 11. Latin America Social Security Reform in the 1990s 12. Welfare States in East Asia: Similar Conditions, Different Past and Divided Future 13. Characteristics of the Central European Welfare System. Index.