Introduction: towards a political economy of social policy -- The historical origins of welfare systems, 1945-80 -- Social policy in Latin America, East Asia and Eastern Europe, 1945-1980: an overview -- The expansion of welfare commitments in Latin America, 1945-80 -- The evolution of social...

Many economists believe that the nature of exchange rate management was an important reason for rapid economic growth in East Asia. In this view, Asian countries avoided extreme exchange rate appreciations and kept their nominal exchange rates close to market clearing levels. In contrast, the...