Abstract

CRUZ, Moritz. Globalization as Development Strategy: The Evidence of Developed Countries. Inv. Econ [online]. 2007, vol.66, n.259, pp.103-131. ISSN 0185-1667.

Historical evidence of both developed and new industrialised economies, specifically the Asian ones, suggests that none of these economies attained industrialization through a strategy of trade and financial openness (globalization). On the contrary, these economies designed an economic strategy that included industrial, technological, trade, exchange rate and macroeconomic (fiscal and monetary) policies to this end, completely faraway from the liberal rhetoric. In this paper we demonstrate that for globalization to translate into all its benefits it is necessary that the conditions for industrialization have been developed previously.

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