The political economic history of Latin America in the post-World War II era has largely been one of underachievement and opportunities lost. This all changed with the wave of market reforms that were implemented in the 1990s. The precise role of these reforms as an agent of change, however, is still hotly debated. Carol Wise's in-depth analysis of the Peruvian case argues for an explanation that treats institutional innovation and state reconstruction as necessary conditions for the apparent success of the market in Latin America.
Exploring how state intervention has been both the cause of Latin America?s economic downfall in the 1980s and the solution to its recovery over the past decade, Reinventing the State analyzes three main phases of state intervention: developmentalism (until 1982), the state in retreat (1980s), and the streamlined state of the 1990s. Through a comprehensive examination of the Peruvian experience, the book explains the country's impressive turnaround from the standpoint of institutional modernization and internal state reform.
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