Since independence Latin America has been a laggard in economic growth and convergence with rich countries. Moreover, the region repeatedly has been leap-frogged by poorer countries, the most recent experience being in East Asia. The course will examine the comparative performance of the region, explore the reasons for underperformance, and point to new directions in public policy and organization that can promote the international competitiveness, innovation and economic upgrading needed for high and sustained rates of growth. The role of effective industrial policies will be highlighted by examining “howâ€ù governments of more successful countries in East Asia, Europe, and Oceania designed and executed their industrial policies. Particular attention will be given to why industrial policies were so important for addressing restrictions to accelerated growth and why past attempts at industrial policies in Latin America had disappointing results and led to a retreat of state market interventions during the era of the Washington Consensus. However, after the region’s poor growth performance in this latter era, there now is a renaissance in the deployment of strategic industrial policies in Latin America. These policies have new characteristics compared to the old industrial policies which offer more hope for success, but also still exhibit some bad habits of the past. Students will have an opportunity to select and research a Latin American country to examine and evaluate its new industrial polices. Prerequisites: Macroeconomics and International Trade Theory or permission from the professor.