Latin America: after the neoliberal years, is the developmental state back in?

Luiz Carlos Bresser-Pereira and Daniela Theuer

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Latin America was probably the region that suffered most in the neoliberal years, because it was also the region where the respective reforms and policies were taken further. For that reason, it was also the region where the neoliberal years first came to an end. Since the late 1990s, left wing and economic nationalist political leaders started winning elections. On the other hand, a new economic school of thought based on a new "structuralist development macroeconomics" has been under discussion, and the Ten Theses on New Developmentalism are today an alternative to the Washington Consensus. Does this mean that the developmental state is back in? It is too soon to say that, not only because ideas and politics seldom match, but also because the rise in commodity prices is threatening industrialization in the region.



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