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This title argues that economic growth in developing countries is intrinsically tied to the dynamics of production structures, to the specific policies and institutions created to support it, and the creation of linkages among domestic firms and sectors.

Customers in the US and Canada please order from Stanford University Press at (800) 621-2736 or visit their website at www.sup.org. Over the 1980s and 1990s, most Latin American countries witnessed a retrenchment of the public sector from infrastructure provision and an opening up of infrastructure activities to the private sector. This book analyzes the consequences of these policy changes from two perspectives. First, it reviews in a comparative framework the major trends in infrastructure provision in Latin America over the last two decades. Second, it evaluates the implication of these trends for economic growth and public deficits in the region. The book shows that in most countries private participation did not fully offset the public sector retrenchment. The result was a slowdown in infrastructure accumulation, which entailed a significant growth cost and weakened the intended impact of the infrastructure spending cuts on public sector insolvency. “This fascinating book highlights a neglected cost of two decades of fiscal austerity in Latin America. The authors' careful analysis reveals that the decline in public investment in infrastructure may have been expensive not only for growth, but for long-term fiscal solvency as well. Deserves to be read by every IMF economist (and many others besides).” Dani Rodrik, Harvard University

This volume is concerned with the conduct of fiscal policy in Latin America, and its consequences for macroeconomic stability and long-term growth. It examines the extent of the procyclical and anti-investment biases embedded in the region's fiscal policies, their causes and macroeconomic consequences, and possible solutions.

The debt crisis of 1982 caused serious economic disruptions in most developing countries. Reform, Recovery, and Growth explains why some of these countries have recovered from the debt crisis, while more than a decade later others continue to stagnate. Among the questions addressed are: What are the requirements for a stabilization policy that reduces inflation in a reasonable amount of time at an acceptable cost? What are the effects of structural reforms, especially trade liberalization, deregulation, and privatization, on growth in the short and long runs? How do macroeconomic instability and adjustment policies affect income distribution and poverty? How does the specific design of structural adjustment efforts affect results? In this companion to Macroeconomics of Populism in Latin America, the authors confirm that macroeconomic stability has a positive effect on income distribution. The volume presents case studies that describe in detail the stabilization experiences in Brazil, Israel, Argentina, and Bolivia, and also includes discussion of Chile, Mexico, Peru, and Turkey.

This report examines the precise nature of the required institutional reforms and provides a framework for their design and implementation. We hope that it will help launch a dialogue among policy?makers, civil society, and the academic community in LAC on how best to design and reform institutions—that is, on how to supply institutional reforms to meet new societal demands.

The debt crisis of 1982 caused serious economic disruptions in most developing countries. Reform, Recovery, and Growth explains why some of these countries have recovered from the debt crisis, while more than a decade later others continue to stagnate. Among the questions addressed are: What are the requirements for a stabilization policy that reduces inflation in a reasonable amount of time at an acceptable cost? What are the effects of structural reforms, especially trade liberalization, deregulation, and privatization, on growth in the short and long runs? How do macroeconomic instability and adjustment policies affect income distribution and poverty? How does the specific design of structural adjustment efforts affect results? In this companion to Macroeconomics of Populism in Latin America, the authors confirm that macroeconomic stability has a positive effect on income distribution. The volume presents case studies that describe in detail the stabilization experiences in Brazil, Israel, Argentina, and Bolivia, and also includes discussion of Chile, Mexico, Peru, and Turkey.

Praise for the first edition:'Accomplishes its task to provide readers with a broad multi-disciplinary view on globalization's many impacts on Latin America ... the organization of the collection is logical and thoughtful, and the structural perspectives offered are convincing and powerful. I recommend it to other Latin American social scientists.' Growth and Change 'An impressive, timely and lively volume, which is especially valuable for teaching purposes.' Journal of Latin American Studies'Authoritatively written by leading scholars in their respective fields.' AreaLatin America Transformed, 2nd Edition explains the region's economic, political, social and cultural transformations, its association with globalization and the search for modernity, and contributes to a greater understanding of how these transformations are affecting the people of Latin America.Using a political economy approach to unravel the concepts of globalization and modernity within Latin America, emphasis is placed on interpreting the macro-level structures that frame the transformations taking place. The book also investigates the dynamics of people's livelihoods as they make sense of, rework and live out these structural transformations. The international team of authors involved with the successful first edition have updated their focus and substantially rewritten their material to examine the challenges facing Latin America in the twenty-first century. Three completely new chapters have also been added. Latin America Transformed, 2nd Edition is now even more useful for undergraduate and postgraduate courses that examine economic, political, social and cultural change in Latin America.

Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or \"second generation\" reforms. The State of State Reform in Latin America reviews and assesses the outcomes of these less studied institutional reforms. This book examines four major areas of institutional reform: a) political institutions and the state organization; b) fiscal institutions, such as budget, tax and decentralization institutions; c) public institutions in charge of sectoral economic policies (financial, industrial, and infrastructure); and d) social sector institutions (pensions, social protection, and education). In each of these areas, the authors summarize the reform objectives, describe and measure their scope, assess the main outcomes, and identify the obstacles for implementation, especially those of an institutional nature.

The debt crisis of 1982 caused serious economic disruptions in most developing countries. Reform, Recovery, and Growth explains why some of these countries have recovered from the debt crisis, while more than a decade later others continue to stagnate.Among the questions addressed are: What are the requirements for a stabilization policy that reduces inflation in a reasonable amount of time at an acceptable cost? What are the effects of structural reforms, especially trade liberalization, deregulation, and privatization, on growth in the short and long runs? How do macroeconomic instability an