Poor countries become rich not by following in suit of their predecessors but rather by overcoming their own highly specific constraints. While economic globalization can be a boon for countries that are trying to dig themselves out of poverty, success usually requires following policies that are tailored to local economic and political realities rather than obeying the dictates of the international globalization establishment. One Economics, Many Recipes shows how successful countries craft their own unique growth strategies and what other countries can learn from them. - Princeton University Press
December 2005. Developing countries are paying a high (and preventable) cost for self-insurance against capital-market follies. Revised version published in the International Economic Journal, September 2006.