The book addresses senior policy makers interested in understanding and debating key issues currently faced by the better performing emerging markets throughout the world. Papers in the volume address international capital flows, financial markets, globalization, and private participation in infrastructure development.

The papers included in this book were among those discussed at the Emerging Markets Forum meeting in Jakarta, Indonesia in September 2007. The underlying premise of the book is that growth and development in emerging market economies is now heavily dependent on: international private capital flows; development of financial markets; the countries ability to integrate successfully with the global economy through trade and investment; and their ability to forge public private partnership, including, in infrastructure development. A particular emphasis is on contrasting and comparing experiences in Asia and Latin America.

Latin American and East Asian Trade Strategies
Latin American and East Asian trade strategies
LuisMiguelCastilla
Introduction

This chapter seeks to establish that the most successful countries in sustaining growth and improving living standards have been those which actually broadened their participation in global markets. The East Asian experience suggests that export-led growth and outward-oriented policies, among other policies, account for the significant growth achieved by these countries. A key factor in their success is a trade agenda complemented with other policies designed to improve the competitiveness of the domestic economy; through these policies, productivity is improved and sustainable growth is ensured. In general, through a coherent selection and combination of multilateral, bilateral or regional trade schemes, a positive impact on development can be achieved. Nevertheless, important challenges remain, ...

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