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Unformatted text preview: growth. True culprits are : ineffective institutions, inappr Rodrik prescriptions Unorthodox innovatons: public enterprises, export processing zones, incentive for priority investments, credit subsidies, infant-industry protection. Stil, development strategy is highly specific to local regions and there are no universal prescriptions. Hegemonic Stability R. Keohand, R. Gilpin, and C. Kindleberger argue that he stability of the world economic order depends on the existence of a stabilizer, or economic hegemon that is willing and capable of installing and maintaining global economic institutions. Chile Generals preferred a controlled economy that would obey orders. Inflation needed to be cut. Import tariffs gone, markets given free rein. Businesses privatized. Cost of living went up, gap between rich and poor grew. New democratic society....
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- Spring '10