The countries of Latin America have all started the transition away from inward-looking development towards a new paradigm based on export-led growth. The New Economic Model (NEM), based on the Washington Consensus, still has no intellectual rival and criticism of the model is either muted or coded. There is no danger for the foreseeable future of countries sliding back into the old model nor there is any coherent alternative available to be adopted.


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Copyright information

© Institute of Latin American Studies 1996

Authors and Affiliations

  • Victor Bulmer-Thomas
    • 1
  1. 1.Institute of Latin American StudiesUniversity of LondonUK

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