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Because their economies were regulated, their financial systems repressed and their states interventionist, for many years the countries of East Asia challenged the Washington consensus, offering an alternative development paradigm. However, in the 1990s, Asian capitalism was disrupted following Japans stagnation and the financial crisis of 199798.Treading the unexplored theoretical terrain created by the simultaneous decline of the Washington Consensus and Asian developmentalism, this revealing book analyzes the comparative political economy of East Asia and Latin America. Divided into four key sections, it covers: Theoretical Framework Results of Globalization Converging and Diverging of Paths of Economic Development Finance and Regionalism.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.
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