Toward a New Developmental Paradigm for Latin America.

The article focuses on economic growth and economic development models in Latin America. It states that Latin American governments have used three different economic development models in the 20th Century: the Ricardian comparative advantage model, the import substitution industrialization model, and trade liberalization. It comments on problems with trade liberalization and its negative effects on economic recovery in many Latin American countries. It examines long-run economic growth patterns in Latin Americans between 1960 and 2006 and compares it to Asian economies in China, India, and South Korea which did not use the Washington Consensus framework.