Globalization and Competition (Hardcover) (ISBN-13: 9780521196352)

Globalization and Competition explains why some middle-income countries, principally those in Asia, grow fast while others are not successful. The author criticizes both old-style developmentalism and the economics of the Washington Consensus. He argues instead for a "new developmentalism" or third approach that builds on a national development strategy. This approach differs from the neoliberal strategy that rich nations propose to emerging economies principally on macroeconomic grounds. Developing countries face a key obstacle to growth, namely, the tendency to overvaluate foreign exchange. Instead of neutralizing it, the policy that rich countries promote mistakenly seeks growth through foreign savings, which causes additional appreciation of the national currency and often results in financial crises rather than genuine investment.

Author: Luiz Carlos Bresser Pereira
ISBN-10: 0521196353
ISBN-13: 9780521196352
Publisher: Cambridge University Press
Language: English
Published: 12/28/2009
Pages: 262
Format: Hardcover
Weight: 1.00lbs
Size: 8.90h x 5.70w x 0.80d

Review Citation(s):
Choice 08/01/2010