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| Preface | |
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| Latin America: The Eternal Land of the Future | |
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| The Economic Future of Latin America and the United States | |
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| From the Washington Consensus to the Resurgence of Populism: A Brief Overview | |
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| The Main Argument: A Summary | |
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| A Conceptual Framework: The Economic Prosperity of Nations and the Mechanics of Successful Growth Transitions | |
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| A Long Decline: From Independence to the Washington Consensus | |
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| Latin America's Decline: A Long Historical View | |
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| A Gradual and Persistent Decline | |
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| The Poverty of Institutions and Long Term Mediocrity | |
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| Currency Crises, Instability and Inflation | |
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| Inequality and Poverty | |
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| So Far from God, and So Close to the United States | |
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| From the Alliance for Progress to the Washington Consensus | |
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| The Cuban Revolution and the Alliance for Progress | |
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| Protectionism and Social Conditions | |
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| Informality and Unemployment | |
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| Fiscal Profligacy, Monetary Largesse, Instability, and Currency Crises | |
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| Oil Shocks and Debt Crisis | |
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| The Lost Decade, Market Reforms, and the Washington Consensus | |
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| The Washington Consensus and the Recurrence of Crises, 1989-2002 | |
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| Fractured Liberalism: Latin America's Incomplete Reforms | |
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| Institutions and Economic Performance | |
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| Institutions Interrupted: A Latin American Scorecard | |
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| Economic Policy Reform: A Decalogue Manqu� | |
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| Summing Up: Mediocre Policies and Weak Institutions | |
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| Chile, Latin America's Brightest Star | |
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| Chile under President Salvador Allende, 1970-73 | |
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| The Chicago Boys and Chile's Trip to the Market | |
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| The Chicago Boys, Politics, and Labor Unions | |
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| Chile: A Case of a Successful Growth Transition | |
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| Pragmatism, Markets, and Success | |
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| Restricting Speculative Capital Flows | |
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| The Key Role of Institutions and the Failure of Copycats | |
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| Chile's Legacy | |
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| So Far from God: Mexico's Tequila Crisis of 1994 | |
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| The Mexican Miracle: A Mirage? | |
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| The Exchange Rate, Capital Flows, and External Imbalances | |
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| 1994: A Recurrent Nightmare | |
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| The Aftermath of the Tequila Crisis | |
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| Lessons from the Mexican Crisis | |
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| Pegging the Currency: A Recurrent Latin American Mistake | |
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| The Mother of All Crises: Argentina, 2001-2002 | |
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| A Long History of Instability and High Inflation | |
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| Please, Tie My Hands! | |
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| The Mexican Crisis and the Weaknesses of the Convertibility Law | |
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| The Fixed Exchange Rate Becomes a Straitjacket | |
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| The Inability to Withstand External Shocks in 1999-2001 | |
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| Another Foretold Disaster | |
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| Devaluation, Default, and Pesification | |
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| Social Costs, Recovery, and Populism | |
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| The Populist Reaction | |
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| Populism, Neopopulism, and Inequality in the New Century | |
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| Populism and Neopopulism | |
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| The Populist Cycle: From Euphoria to Regret | |
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| The Polices of Neopopulism | |
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| Inequality and Neopopulism in Latin America | |
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| Openness, Globalization, Inequality, and Social Conditions | |
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| Income Disparities and Education | |
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| Populism and Political Institutions | |
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| Neopopulism and Neoconstitutionalism | |
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| Ch�vez's Challenge and Lula's Response | |
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| Hugo Ch�vez and the Path to Bolivarian Populism | |
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| The Bolivarian Revolution and Its Disappointment | |
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| Ch�vez and Social Conditions | |
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| The Surprising Absence of Populism in Brazil | |
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| Stability and Social Programs in Lula's Brazil | |
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| Lula's Pragmatism and Ch�vez's Ideology | |
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| Brazil's Challenges in the Post-Lula Era | |
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| Challenges for the Future | |
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| A Three-Speed Latin America for the Twenty-first Century | |
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| The Institutions of the State and the Narcotics Trade | |
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| Three Latin American Clusters for the Twenty-first Century | |
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| A Final Word | |
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| Notes | |
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| Bibliography | |
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| Index | |