Economists have debated Latin America’s economic strategies at two moments since the second world war. The first debate, often characterized as between monetarists and structuralists, flourished from the late 1950s to the early 1970s. It focused on the strengths and weaknesses of a strategy of import-substituting industrialization (ISI). The second debate has unfolded since the early 1980s. It focuses on policies of economic stabilization to control inflation, and on exchange rates, trade regimes and, especially, a strategic orientation toward reliance upon markets in order to foster economic growth. This is collection of essays around the strategies and policies adopted in Latin America.
