Globalization and Development Why East Asia Surged Ahead and Latin America Fell Behind

Why has there has been such a pronounced divergence in the economic fortune of developing countries? Comparing the experience of East Asia and Latin America since the mid-1970s, Elson identifies the key internal factors common to each region which have allowed East Asia to take advantage of the trade, financial, and technological impact of a more globalized economy to support its development, while Latin America has not. Unique in it comparative regional perspective and grounded in an inter-disciplinary approach, this work is a timely addition to our understanding of the future of economic development.

Anthony Elson is an international economist, consultant and university lecturer in the Washington, DC area of the United States. For many years, he was a senior staff member of the IMF and consultant with the World Bank. Currently he serves as a Professorial Lecturer at the School for Advanced International Studies at Johns Hopkins University, USA, and a Visiting Lecturer at the Duke Center for International Development, Duke University, USA. His book, Governing Global Finance: The Evolution and Reform of the International Financial Architecture, was released in paperback by Palgrave Macmillan in late 2012.

1. Overview
2. Changing Paradigms in Economic Development
3. Initial Conditions for Post-WW2 Development of East Asia and Latin America
4. Economic Policy Choices
5. Institutions and Governance
6. Political Economy Factors
7. Three Comparative Case Studies
8. Conclusions and Lessons for Development Policy