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In Defense of the Autonomy in Neoliberal Economic Policy Reform in Latin America

Listed author(s):
  • Nobuaki Hamaguchi

    (Kobe University)

This article addresses the question of how do we implement necessary economic policy reform in Latin America. A search for an alternative of the unconditional liberalization should be developed in the direction to take full advantage of economic opportunities from the enhanced market mechanism and globalization, rather than denying these irreversible processes. The government should play active role in keeping tight a rein on the process of adaptation to the globalization, without renouncing the autonomy in the conduct of economic policy and institutional reform which should be managed for improve functioning of the market on the basis of the local specifics. Especially, consolidation of macroeconomic stability and harmonization of social conflicts are major challenge to obtain autonomy. The globalization process will be more unbiased by letting developing countries to assume more active role in global institutional building, which should be based on the awareness of diversity and justice.

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Article provided by Research Institute for Economics & Business Administration, Kobe University in its journal Kobe Economic & Business Review.

Volume (Year): 50 (2006)
Issue (Month): (February)
Pages: 33-49

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Handle: RePEc:kob:review:feb2006::v:50:p:33-49
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