Carol Wise | University of Southern California (original) (raw)
Books by Carol Wise
Dragonomics: How China is Maximizing (or Missing Out) on China's International Development Strategy, 2020
Despite the emergence of a rich literature on the rise of China in Latin America (LAC) since 2000... more Despite the emergence of a rich literature on the rise of China in Latin America (LAC) since 2000, we are still grappling with this phenomenon. In this article we seek to theorize this expanding South–South relationship from two vantage points. First, from the perspective of China, we argue that, by necessity, the PRC has had to internationalize its development strategy in order to compensate for its serious natural resource deficit, feed the world’s largest domestic population, and fuel the soon-to-be largest economy in the world. LAC has been just one slice of China’s ‘go out’ strategy. Our second perspective probes the effect of China’s entry into the region. Through the lens of development economics, we identify three separate political economy scenarios that have been accentuated within those countries that have the strongest economic ties with China. We rely on measures of institutional performance and macro-economic trends to illustrate the variable effects of China on LAC.
Papers by Carol Wise
on debt and stabilization. He is currently working on a book comparing the macroeconomic policies... more on debt and stabilization. He is currently working on a book comparing the macroeconomic policies of Peru and Bolivia in the 1980s. Carol Wise was a Kellogg Residential Fellow in 1988 and completed a doctoral dissertation, entitled
Los dos ultimos capitulos analizan el giro economico peruano en la decada de 1990 desde estos mis... more Los dos ultimos capitulos analizan el giro economico peruano en la decada de 1990 desde estos mismos puntos de vista: la determinacion de la administracion Fujimori de resolver los problemas relacionados con el Estado de una vez por todas a traves de una reforma institucional parcial.
Latin American Research Review
This essay reviews the following works:
Library has Spanish version: Negociaciones del ALCA entre los actores principales : Estados Unido... more Library has Spanish version: Negociaciones del ALCA entre los actores principales : Estados Unidos y el MERCOSUR
La autora analiza tres fases principales de la intervencion del Estado: desarrollismo (hasta 1982... more La autora analiza tres fases principales de la intervencion del Estado: desarrollismo (hasta 1982), el Estado en retirada (la decada de 1980) y el Estado modernizado a partir de la decada de 1990. Se explica el impresionante giro del pais desde el punto de vista de la modernizacion institucional y la reforma interna del Estado.
Brazilian Journal of Political Economy
RESUMO Como o único país de mercado emergente da América Latina que aderiu firmemente a uma taxa ... more RESUMO Como o único país de mercado emergente da América Latina que aderiu firmemente a uma taxa de câmbio fixa por mais de uma década, este artigo examina as compensações econômicas e políticas que a paridade peso-dólar acarretou. Em termos econômicos, o conselho da moeda promoveu claramente a estabilidade macroeconômica e a prudência fiscal. No entanto, a manutenção de um regime de moeda fixa no contexto de fluxos voláteis de capital também contribuiu para a constante valorização do peso ao longo do tempo. Essa tendência, juntamente com certos acordos políticos (lenta reforma do mercado de trabalho e transferências generosas do governo para as províncias) ocorridas no início do programa de reformas, dificultou bastante a produtividade e o dinamismo da economia argentina. A fraca posição competitiva do país foi exacerbada pela desvalorização brasileira de 1999, e a lição desde então tem sido o quão difícil é formar uma coalizão política para enfrentar as formidáveis tarefas microec...
Latin American Research Review, 2017
This essay reviews the following works:
Choice Reviews Online
This volume documents and explains the remarkable resilience of emerging market nations in East A... more This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008 - 2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.
Revista Europea De Estudios Latinoamericanos Y Del Caribe, 2002
Los capitulos dos y tres examinan el apogeo desarrollista peruano que empezo con la primera fase ... more Los capitulos dos y tres examinan el apogeo desarrollista peruano que empezo con la primera fase de la ISI a inicios de la decada de 1960 y termino con la disolucion del capitalismo de Estado a fines del decenio siguiente.
Los capitulos cuatro y cinco, los acuales abarcan, por un lado, el intento, a inicios de la decad... more Los capitulos cuatro y cinco, los acuales abarcan, por un lado, el intento, a inicios de la decada de 1980, de volver a la etapa pre 1960 de un Estado "pequeno", un presupuesto equilibrado y baja inflacion, y, por otro lado, al subsiguiente contragolpe heterodoxo y colapso del Estado.
Canadian Journal of Political Science, 2004
Abstract This article revisits debates about the role NAFTA played in hastening Mexico's... more Abstract This article revisits debates about the role NAFTA played in hastening Mexico's democratic transition. It finds that neither the advocates nor the critics of NAFTA anticipated the ruling PRI party's loss of control over the presidency in 2000. Although NAFTA may ...
Enterprise and Society
For those of us who teach comparative political economy, international development, and global bu... more For those of us who teach comparative political economy, international development, and global business, Evan Ellis has single-handedly filled an enormous gap in the literature on the rapidly growing relationship between the People's Republic of China (PRC) and Latin America. In his book China in Latin America: The Whats and Wherefores, Ellis emphasizes the complexity of China-Latin American ties in the twenty-first century, as well as the diversity that is unfolding in the nature of China's interaction with countries in different subregions of Latin America. The author methodically analyzes the dimensions of China's involvement with countries located within the Southern Cone, the Andes, Mexico, the Caribbean, and Central America. In doing so, he covers a full range of subjects, which together provide one of the most thorough political economy profiles ever depicted of China's activities in Latin America. According to Ellis, China's interest in Latin America is l...
Journal of International Money and Finance, 2014
ABSTRACT 1985 saw the publication of Carlos Díaz-Alejandro's classic article, “Good-B... more ABSTRACT 1985 saw the publication of Carlos Díaz-Alejandro's classic article, “Good-Bye Financial Repression, Hello Financial Crash” (1985). Writing in the wake of drastic financial blowups in the Southern Cone, Díaz-Alejandro nonetheless argued that “a believable alternative system could be designed, avoiding many of the inefficiencies of financial repression … and blending both public and private financial agents” (18). Nearly three decades after the publication of this prescient work, there are credible signs that such an arrangement is now emerging within some Latin American emerging economies (EEs). Just as Díaz-Alejandro studied how the 1982 debt shocks both exacerbated and shed light on financial sector policies and institutions in the Southern Cone countries, we use the 2008–09 global financial crisis (GFC) as a lens through which to examine the policymaking capabilities of six Latin American countries. We find that several of the countries successfully weathered the 2008–09 financial shocks and argue that this is due to: institutional modernization that facilitated policy learning and a more business-friendly climate; and, to sustainable improvements in income distribution that may have facilitated consensus-building. These factors, we suggest, gave policymakers both the expertise and the political space to employ more nuanced fiscal and financial policies.
The Journal of Politics, 2007
Dragonomics: How China is Maximizing (or Missing Out) on China's International Development Strategy, 2020
Despite the emergence of a rich literature on the rise of China in Latin America (LAC) since 2000... more Despite the emergence of a rich literature on the rise of China in Latin America (LAC) since 2000, we are still grappling with this phenomenon. In this article we seek to theorize this expanding South–South relationship from two vantage points. First, from the perspective of China, we argue that, by necessity, the PRC has had to internationalize its development strategy in order to compensate for its serious natural resource deficit, feed the world’s largest domestic population, and fuel the soon-to-be largest economy in the world. LAC has been just one slice of China’s ‘go out’ strategy. Our second perspective probes the effect of China’s entry into the region. Through the lens of development economics, we identify three separate political economy scenarios that have been accentuated within those countries that have the strongest economic ties with China. We rely on measures of institutional performance and macro-economic trends to illustrate the variable effects of China on LAC.
on debt and stabilization. He is currently working on a book comparing the macroeconomic policies... more on debt and stabilization. He is currently working on a book comparing the macroeconomic policies of Peru and Bolivia in the 1980s. Carol Wise was a Kellogg Residential Fellow in 1988 and completed a doctoral dissertation, entitled
Los dos ultimos capitulos analizan el giro economico peruano en la decada de 1990 desde estos mis... more Los dos ultimos capitulos analizan el giro economico peruano en la decada de 1990 desde estos mismos puntos de vista: la determinacion de la administracion Fujimori de resolver los problemas relacionados con el Estado de una vez por todas a traves de una reforma institucional parcial.
Latin American Research Review
This essay reviews the following works:
Library has Spanish version: Negociaciones del ALCA entre los actores principales : Estados Unido... more Library has Spanish version: Negociaciones del ALCA entre los actores principales : Estados Unidos y el MERCOSUR
La autora analiza tres fases principales de la intervencion del Estado: desarrollismo (hasta 1982... more La autora analiza tres fases principales de la intervencion del Estado: desarrollismo (hasta 1982), el Estado en retirada (la decada de 1980) y el Estado modernizado a partir de la decada de 1990. Se explica el impresionante giro del pais desde el punto de vista de la modernizacion institucional y la reforma interna del Estado.
Brazilian Journal of Political Economy
RESUMO Como o único país de mercado emergente da América Latina que aderiu firmemente a uma taxa ... more RESUMO Como o único país de mercado emergente da América Latina que aderiu firmemente a uma taxa de câmbio fixa por mais de uma década, este artigo examina as compensações econômicas e políticas que a paridade peso-dólar acarretou. Em termos econômicos, o conselho da moeda promoveu claramente a estabilidade macroeconômica e a prudência fiscal. No entanto, a manutenção de um regime de moeda fixa no contexto de fluxos voláteis de capital também contribuiu para a constante valorização do peso ao longo do tempo. Essa tendência, juntamente com certos acordos políticos (lenta reforma do mercado de trabalho e transferências generosas do governo para as províncias) ocorridas no início do programa de reformas, dificultou bastante a produtividade e o dinamismo da economia argentina. A fraca posição competitiva do país foi exacerbada pela desvalorização brasileira de 1999, e a lição desde então tem sido o quão difícil é formar uma coalizão política para enfrentar as formidáveis tarefas microec...
Latin American Research Review, 2017
This essay reviews the following works:
Choice Reviews Online
This volume documents and explains the remarkable resilience of emerging market nations in East A... more This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008 - 2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.
Revista Europea De Estudios Latinoamericanos Y Del Caribe, 2002
Los capitulos dos y tres examinan el apogeo desarrollista peruano que empezo con la primera fase ... more Los capitulos dos y tres examinan el apogeo desarrollista peruano que empezo con la primera fase de la ISI a inicios de la decada de 1960 y termino con la disolucion del capitalismo de Estado a fines del decenio siguiente.
Los capitulos cuatro y cinco, los acuales abarcan, por un lado, el intento, a inicios de la decad... more Los capitulos cuatro y cinco, los acuales abarcan, por un lado, el intento, a inicios de la decada de 1980, de volver a la etapa pre 1960 de un Estado "pequeno", un presupuesto equilibrado y baja inflacion, y, por otro lado, al subsiguiente contragolpe heterodoxo y colapso del Estado.
Canadian Journal of Political Science, 2004
Abstract This article revisits debates about the role NAFTA played in hastening Mexico's... more Abstract This article revisits debates about the role NAFTA played in hastening Mexico's democratic transition. It finds that neither the advocates nor the critics of NAFTA anticipated the ruling PRI party's loss of control over the presidency in 2000. Although NAFTA may ...
Enterprise and Society
For those of us who teach comparative political economy, international development, and global bu... more For those of us who teach comparative political economy, international development, and global business, Evan Ellis has single-handedly filled an enormous gap in the literature on the rapidly growing relationship between the People's Republic of China (PRC) and Latin America. In his book China in Latin America: The Whats and Wherefores, Ellis emphasizes the complexity of China-Latin American ties in the twenty-first century, as well as the diversity that is unfolding in the nature of China's interaction with countries in different subregions of Latin America. The author methodically analyzes the dimensions of China's involvement with countries located within the Southern Cone, the Andes, Mexico, the Caribbean, and Central America. In doing so, he covers a full range of subjects, which together provide one of the most thorough political economy profiles ever depicted of China's activities in Latin America. According to Ellis, China's interest in Latin America is l...
Journal of International Money and Finance, 2014
ABSTRACT 1985 saw the publication of Carlos Díaz-Alejandro's classic article, “Good-B... more ABSTRACT 1985 saw the publication of Carlos Díaz-Alejandro's classic article, “Good-Bye Financial Repression, Hello Financial Crash” (1985). Writing in the wake of drastic financial blowups in the Southern Cone, Díaz-Alejandro nonetheless argued that “a believable alternative system could be designed, avoiding many of the inefficiencies of financial repression … and blending both public and private financial agents” (18). Nearly three decades after the publication of this prescient work, there are credible signs that such an arrangement is now emerging within some Latin American emerging economies (EEs). Just as Díaz-Alejandro studied how the 1982 debt shocks both exacerbated and shed light on financial sector policies and institutions in the Southern Cone countries, we use the 2008–09 global financial crisis (GFC) as a lens through which to examine the policymaking capabilities of six Latin American countries. We find that several of the countries successfully weathered the 2008–09 financial shocks and argue that this is due to: institutional modernization that facilitated policy learning and a more business-friendly climate; and, to sustainable improvements in income distribution that may have facilitated consensus-building. These factors, we suggest, gave policymakers both the expertise and the political space to employ more nuanced fiscal and financial policies.
The Journal of Politics, 2007
Political Science Quarterly, 1998