Chapter 6: Neoliberalism and the economic miracles in Chile and Taiwan
In this concluding chapter, we apply our comparison of the political economies of Chile and Taiwan to evaluate neoliberalism. The first section examines the fundamental differences and parallels between Chile and Taiwan; the second develops an institutionalist model to explain why the developmental trajectories of the two nations diverged so significantly; and the third considers the implications of our analysis for neoliberalism and globalization. In general, we conclude that, although opening their markets to the global economy stimulated successful export-led growth in both countries, this only occurred because of very significant deviations from the fundamental tenets of neoliberalism.
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