Since the early 1990s, reform has swept across Latin America's economic landscape. What started as a slow process in Chile has spread to virtually every country in the region. Most countries are now pursuing a market economy - in contrast to a long-standing reliance on heavy state intervention. And what makes Latin American reform particularly attractive is its context: a widespread return to democracy. Crisis and Reform in Latin America: From Despair to Hope tells the story of the region's reforms from 1982 to 1994. Starting with the debt crisis of 1982, it shows how a new consensus - spurred by the failure of traditional policies and the example of pioneering countries - has emerged as nations have begun to stabilize their economies, open up to international trade, privatize and deregulate firms, and improve social security, all the while seeking to reduce poverty and provide a social safety net. Throughout the book, the implications for Latin America of the 1994 Mexican currency crisis are thoroughly examined. The final chapter evaluates the challenges facing the region in the aftermath of the crisis and in the long term.
In the economic history of Latin America, unfortunate events have seemed to repeat themselves endlessly. But the region's recent reforms are beginning to break this melancholy circularity. In spite of the Mexican crisis, there are rays of hope in the story of reform told here - a story that will engage policymakers, academics, and students alike.
Industry Reviews
"Authoritative....An essential book, clearly written and accessible to nonspecialists, that should be basic reading for anyone who follows the region."--Foreign Affairs
..".[The book] is the best starting point for understanding the process of economic reform in Latin America and the Caribbean."--Latin American Research Review
"Sebastian Edwards, the World Bank's chief economist for Latin America and the Caribbean, is one of the most able Latin American Economists of his generation."--The Economic Journal "Authoritative....An essential book, clearly written and accessible to nonspecialists, that should be basic reading for anyone who follows the region."--Foreign Affairs
.,."[The book] is the best starting point for understanding the process of economic reform in Latin America and the Caribbean."--Latin American Research Review
"Sebastian Edwards, the World Bank's chief economist for Latin America and the Caribbean, is one of the most able Latin American Economists of his generation."--The Economic Journal "Authoritative....An essential book, clearly written and accessible to nonspecialists, that should be basic reading for anyone who follows the region."--Foreign Affairs
, .."[The book] is the best starting point for understanding the process of economic reform in Latin America and the Caribbean."--Latin American Research Review
"Sebastian Edwards, the World Bank's chief economist for Latin America and the Caribbean, is one of the most able Latin American Economists of his generation."--The Economic Journal "Authoritative....An essential book, clearly written and accessible to nonspecialists, that should be basic reading for anyone who follows the region."--Foreign Affairs
.,."[The book] is the best starting point for understanding the process of economic reform in Latin America and the Caribbean."--Latin American Research Review
"Sebastian Edwards, the World Bank's chief economist for Latin America and the Caribbean, is one of the most able Latin American Economists of his generation."--The Economic Journal
