From Mechanisms of Control to Mechanisms of Resistance

Alice H. Amsden

in The Rise of “The Rest”

Published in print February 2001 | ISBN: 9780195139693
Published online November 2003 | e-ISBN: 9780199832897 | DOI:
From Mechanisms of Control to Mechanisms of Resistance

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The expansionist tendencies inherent in industrial developmental policies became overexpansionist when, by virtue of success itself, access to foreign capital eased. Two foreign debt crises ensued, one in Latin America starting in 1982, and the other in East Asia starting in 1997. The economic and political costs of financial disequilibria were enormous, involving prolonged falls in output and wages in Latin America and greater foreign political intervention throughout the developing world. This chapter examines how the institutions centred around the developmental state in late industrializing countries absorbed external shock and adapted to a more advanced stage of development internally.

Keywords: debt; East Asia; expansionism; industrial development; institutions; late industrialization; Latin America; newly industrialized countries; overexpansionism

Chapter.  12653 words. 

Subjects: Economic History

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