This paper, written as a tribute to Albert Hirschman's work and thought, deals with the patterns of structural change and financing economic growth in Brazil from 1950 to 1980. Special attention in given to the role of external finance and to the evolving forms of public sector intervention....

The paper analyses how the IMF brought its experience gained in emerging market sovereign debt crises in the troika’s handling of the euro crisis. We link models of multiple equilibria with the IMF's experience made in Latin American crises in the 2000s. We examine subsequent changes in the...