East Asian Model for Latin American Success

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. 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.