Comparing the experience of East Asia and Latin America since the mid-1970s, Elson identifies the key internal factors common to each region which have allowed East Asia to take advantage of the trade, financial, and technological impact of a more globalized economy to support its development, while Latin America has not.

Anthony Elson is an international economist, consultant and university lecturer in the Washington, DC, area of the United States. For many years, he was a senior staff member of the IMF and consultant with the World Bank. Currently he serves as Professorial Lecturer at the School for Advanced International Studies at Johns Hopkins University, USA, and Visiting Lecturer at the Duke Center for International Development, Duke University, USA.

1. Overview 2. Changing Paradigms in Economic Development 3. Initial Conditions for Post-WW2 Development of East Asia and Latin America 4. Economic Policy Choices 5. Institutions and Governance 6. Political Economy Factors 7. Three Comparative Case Studies 8. Conclusions and Lessons for Development Policy