For many years the countries of East Asia challenged the Washington consensus and offered an alternative development paradigm because their economies were regulated, their financial systems "repressed" and their states interventionist. However, Asian capitalism was disrupted in the 1990s following Japan's stagnation and the financial crisis of 1997-98.
"Beyond Market-Driven Development" treads the unexplored theoretical terrain created by the simultaneous decline of the Washington consensus and Asian developmentalism and analyzes the comparative political economy of East Asia and Latin America.
Through the juxtaposition of countries in East Asia and Latin America, leading academics analyze the impact of government intervention, institutional malfunction, social transformation and financial change as well as conflict and power on economic development.
This book will prove to be invaluable to students and academics of development economics.
