Reclaiming Development

There is no alternative to neoliberal economics - or so it appeared when Reclaiming Development was published in 2004. Many of the same driving assumptions - monetarism and globalization - remain within the international development policy establishment. Ha-Joon Chang and Ilene Grabel confront this neoliberal development model head-on by combining devastating economic critique with an array of innovative policies and an in-depth analysis of the experiences of leading Western and East Asian economies.Still, much has changed since 2004 - the relative success of some developing countries in weathering the global financial crisis has exposed the latent contradictions of the neoliberal model. The resulting situation of increasingly open policy innovation in the global South means that Reclaiming Development is even more relevant today than when it was first published. History is being made.

Foreword by Robert H. Wade Preface to the critique influence change edition Introduction: Reclaiming Development Part I: Myths and Realities about Development 1. Myth 1 'Today's wealthy countries achieved success through a steadfast commitment to the free market' 2. Myth 2 'Neoliberalism works' 3. Myth 3 'Neoliberal globalization cannot and should not be stopped' 4. Myth 4 'The neoliberal American model of capitalism represents the ideal that all developing countries should seek to replicate' 5. Myth 5 'The East Asian model is idiosyncratic; the Anglo-American model is universal' 6. Myth 6 'Developing countries need the discipline provided by international institutions and by politically independent domestic policymaking institutions' Part II: Economic Policy Alternatives 7. Policy Alternatives 1 Trade and Industry 8. Policy Alternatives 2 Privatization and Intellectual Property Rights 9. Policy Alternatives 3 International Private Capital Flows 10. Policy Alternatives 4 Domestic Financial Regulation 11. Policy Alternatives 5 Macroeconomic Policies and Institutions Conclusion Obstacles and Opportunities for Reclaiming Development