The wages of populism

In the late 1980s, along with Hla Myint, I co-directed a large comparative study of 21 developing countries of The Political Economy of Poverty, Equity and Growth (Oxford, 1996). One of our surprises was that two of our largest countries — Brazil and Mexico — which had three decades of spectacular growth suffered prolonged “growth collapses” in the 1980s. 

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