Over the 1980s Latin America made great strides in democratization, while East Asia led the world in economic growth. Are the two converging toward a model that combines economic and political liberalization? This text examines increased scope for mutual support among aspiring democratic forces.

Over the 1980s Latin America made great strides in democratization, while East Asia led the world in economic growth. Are the two converging toward a model that combines economic and political liberalization? This text examines increased scope for mutual support among aspiring democratic forces.

When Mexico's peso crisis occurred in December 1994, all of Latin America experienced the 'tequila effect'. In January 1998, after seven months of financial turmoil in East Asia, Alan Greenspan, the normally reticent Chairman of the US Federal Reserve Bank, noted that such 'vicious cycles ... may, in fact, be a defining characteristic of the new high-tech international financial system'. This book examines the impact of the new, highly liquid, portfolio capital flows on governments, opposition politicians, business and the work-force in such emerging market countries as Mexico, Brazil, Russia, India, Vietnam, Thailand and Indonesia. The contributors lament the economic and political strains on often fragile governments forced by global markets to reduce expenditures and employment drastically in order to defend their currencies. Possible silver linings of financial globalization include the discrediting of incumbent authoritarian regimes and external reinforcement for sound macroeconomicpolicies.

When Mexico's peso crisis occurred in December 1994, all of Latin America experienced the 'tequila effect'. In January 1998, after seven months of financial turmoil in East Asia, Alan Greenspan, the usually reticent Chairman of the US Federal Reserve Bank, noted that such 'vicious cycles...may, in fact, be a defining characteristic of the new high-tech international financial system'. This book examines the impact of the new, highly liquid portfolio capital flows on governments, opposition, politicians, business and the workforce in such emerging market countries as Mexico, Brazil, Russia, Indonesia, Vietnam, Thailand and Indonesia. Hailed as 'exemplary and innovative', 'fine-grained and accessible' and 'a must read', this collection of original essays in newly available in paperback.

This book examines environmental policy change in twenty-eight Central and Eastern European and Latin American countries against a background of significant political and economic transformation over the past two decades. Through cross-regional comparison and a multi-methods approach, Jale Tosun investigates changes in the regulation of air, soil, and water pollution, genetically modified corn, and the sustainable management of forests. Tosun also looks at the relationship between system transformation and the creation of environmental procuracies in both parts of the world. Environmental Policy Change in Emerging Market Democracies demonstrates that, although political and economic transformations have positively affected environmental policy in both regions, the extent of policy change varies considerably across Central and Eastern Europe and Latin America. At the same time, as Tosun argues, economic integration has acted as a major driver of a stronger governmental enforcement commitment as expressed by the creation of environmental procuracies.

The end of the Cold War, the "third wave" of democratization, and economic globalization have presented the newly industrialized countries of East Asia and the liberal democracies of Latin America with increasingly similar international opportunities and constraints. During the 1980s, Latin America made great strides in democratization, while East Asia led the world in economic growth. Are the two regions now converging toward a model that combines economic and political liberalization? Many developments in both regions indicate that this is a serious possibility. Although significant countertrends do exist, there is now increased scope for mutual support and encouragement among aspiring democratic forces both within and between these two regions. This book examines these interrelated issues, paying special attention to the effects of the East Asian financial crisis of 1997–98 and its subsequent impact on Latin America. Contributors: Ananya Basu, World Bank; Francis Fukuyama, School of Advanced International Studies, Johns Hopkins University.; Stephan Haggard, University of California-San Diego; Elizabeth M. King, World Bank; Sanjay Marwah, George Mason University; Sylvia Maxfield, Harvard University; Eduardo Silva, University of Missouri-St. Louis and University of Miami; Gordon Redding, University of Hong Kong; Tun-jen Cheng, College of William and Mary; Yun-han Chu, National Taiwan University; Laurence Whitehead, Oxford University.

William Galston explores the difficulties market democracies face in an era of diminished growth and a weakened middle class. Galston argues that if the West fails to address economic stagnation, other domestic and foreign policy issues will prove intractable.