Ecuador's dollarization was no marginal optimization decision. It was fundamental, dramatic and designed to completely transform central elements of the economy. Since orthodox, a-historical perspectives are inadequate in explaining such significant policy reversals, the paper uses a...

Ha-Joon Chang, in his article ‘Institutions and Economic Development: Theory, Policy, and History’, provides a description and critique of the mainstream view of institutions and development. It applies well to Latin America in the 1980s and 1990s. However, the effort to introduce these...