In the 1990s, 'protection', 'import substitution' and 'intervention' have become dirty words, part of the 'leyenda negra' of Latin America development in the postwar period. This book attempts a fresh look at the controversial years between the end of the Second World War and the point when, at varying dates in different countries, a discontinuity occurs in which the postwar 'style of development' ceased to play a central role in the economic evolution of the region. The analysis is based on seven case studies covering eleven countries.

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MARCELO DE PAIVA ABREU Professor of Economics, Catholic University of Rio de Janeiro PABLO ASTORGA Research Fellow, St Antony's College, Oxford JOSE MIGUEL BENAVENTE Lecturer in Economics, University of Chile ALFONSO S. BEVILAQUA ISAAC COHEN RICARDO FFRENCH-DAVIS, Professor, Department of Economics, University of Chile VALPY FITZGERALD JORGE KATZ BERNARDO KOSACOFF Visiting Senior Fellow, St Antony's College, Oxford OSCAR MUNOZ Executive Secretary, Forum for Economic Development, Ministry of Economic Affairs, Chile DEMOSTHENES PINHO Central Bank of Brazil CAMILO TOVAR Advisor to Executive Secretary, United Nations Economic Commission for Latin America and the Caribbean RICHARD WEBB President of Banco Latino in Peru

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List of Tables and Graphs Notes on the Contributors Introduction; E.Cardenas, J.A.Ocampo & R.Thorp Technological Learning, Institutional Development and the Microeconomics of Import Substitution; J.Katz & B.Kosacoff ECLA and the Theory of Import Substituting Industrialisation in Latin America; E.V.K.FitzGerald The Influence of International Financial Institutions on ISI; R.Webb The Industrialisation of Chile during Protectionism (1940-82); R.Ffrench-Davis, O.Munoz, J.M.Benavente & G.Crespi Import Substitution and Growth in Brazil, 1890s-1970s; R.Abreu, A.S.Bevilaqua & D.M.Pinho The Process of Accelerated Industrialisation in Mexico: 1929-82; E.Cardenas Industrialisation in Venezuela (1936-83): The Problem of Abundance; P.Astorga Colombia in the Classical Era of 'Inward-Looking Development', 1930-74; J.A.Ocampo & C.Tovar Import Substituting Industrialisation in Argentina in the Period 1940-80: Its Achievements and Shortcomings; J.M.Katz Import Substitution, Economic Integration and the Development of Central America: 1950-80; I.Cohen Index