Elgar Companion to the Economies of Latin America and the Caribbean

This Companion examines why Latin America and the Caribbean have struggled to achieve sustained economic progress despite cycles of state-led development, market liberalization, and social policy experimentation. Through thematic analyses and detailed country studies, the contributors explore the structural constraints that have shaped the region’s trajectory. Rather than seeking another universal model, chapters delve into regional and country-specific challenges, analyzing them within their historical, institutional, and economic contexts. Instead of a new ‘consensus’, they advocate for a new conversation: one that moves beyond rigid frameworks and embraces the complexity of the region’s economies, societies, and histories. The Companion examines critical challenges such as governance failures, state capture, and the role of political elites in shaping economic outcomes, emphasizing the need to strengthen institutions, promote economic diversification, and invest in human capital. Ultimately, it underscores the importance of fostering a more nuanced debate: one that acknowledges the diversity of Latin America’s economies and histories while identifying actionable strategies for inclusive growth, resilience, and long-term development.The Elgar Companion to the Economies of Latin America and the Caribbean is a vital resource for students and scholars of development, international economics and political economy. Historians of Latin America and practitioners in political science will also benefit from the book’s detailed insights.