Globalization and catching up -- The key institution -- New developmentalism -- The tendency of the exchange rate toward overvaluation -- The Dutch disease -- Foreign savings and slow growth -- Foreign savings and financial crises

In One Economics, Many Recipes, leading economist Dani Rodrik argues that neither globalizers nor antiglobalizers have got it right. While economic globalization can be a boon for countries that are trying to dig out of poverty, success usually requires following policies that are tailored to...