Development has been illusive in Latin America in the 1990s. Notwithstanding tough neoliberal reforms, defeated hyperinflation, and large capital inflows, development of productive capacity and social equity shows a poor performance. These selected essays discuss the analytical bases of a pragmatic policy-oriented approach alternative to neoliberalism. The author analyzes macroeconomic management, trade and financial liberalization in recent years, focusing on causes of meagre achievements in macroeconomic stability, capital formation and growth. A paper on Chile reviews reforms to the "reforms" conducted by the democratic governments in the 1990s.
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RICARDO FFRENCH-DAVIS is currently Professor of Economics at the University of Chile. He was formerly Deputy Manager and Director of Research of the Central Bank of Chile. He was also the co-founder and Vice-President of the Center for Economic Research on Latin America (CIEPLAN), Santiago de Chile.
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