Publisher's Synopsis
In many ways, the work of Carlos Diaz Alejandro foretold the current debate in Latin America surrounding the roles of government and the market in development. En Route to Modern Growth, a collection of studies in memory of the late economist, examines intemational trade policy and the relationship between growth, distribution, and human resource development. What constitutes a market-friendly government? What market structures are the most workable and competitive for Latin America? Is growth consistent with equity?;Chapter One investigates determinants of social welfare in Latin America and discusses why welfare in the region is lower than in the industrial economies and why it varies among countries within the region. Chapter Two looks at the negative effect of inequality in the distribution of productive assets and personal income on economic growth.;Using the Chilean experience as a model, the third chapter focuses on the correlation between decentralisation and development. Chapter Four examines Brazil's attempts to devise effective stabilisation and fiscal adjustment policies and the role of the state apparatus in the failure of those attempts. Each chapter is followed by a scholarly commentary on the chapter's principal arguments.
