This book analyses the development challenge faced by Latin America at a time at which the concerns for the large inequality in the region are at a peak. This volume focuses on growth-with-equity, and is written by an outstanding group of Latin American and international researchers and policy-makers.Preface; R.Ffrench-Davis & J.L.Machinea Growth and Equity: In Search of the 'Empty Box' J.L. Machinea and O. Kacef PART 1: RECENT SUCCESSFUL EXPERIENCES ON ECONOMIC DEVELOPMENT What Produces Economic Success? D.Rodrik Development Success: May History Breed Humility; W.Easterly The Dual Divergence: Growth Successes and Collapses in the Developing World Since 1980; J.A.Ocampo & M.A.Parra PART 2: INTERRELATIONS BETWEEN GROWTH AND EQUITY Is Greater Equity Necessary for Higher Long-term Growth in Latin America? F.Bourguignon & M.Walton Pro-Growth Social Policies in Latin America; M.Szekely PART 3: FINANCIAL MARKET DEVELOPMENT FOR GROWTH AND THE CAPITAL ACCOUNT Financial Development, Growth and Equity in Brazil; A.C.Pinheiro & R.Bonelli Financial Globalization: From Crises-Prone to Development-Friendly? R.Ffrench-Davis PART 4: TRADE FOR GROWTH Trade and Growth: Why Asia Grows Faster than Latin America; M.R.Agosin Trade and Growth: Past Experience and Perspectives for Latin America; M.de Paiva AbreuMANUEL R. AGOSIN Professor, Department of Economics, Universidad de Chile, ChileREGES BONELLI Research Associate, Instituto de Pesquisa Econ?mica Aplicada (IPEA), BrazilFRAN?OIS BOURGUIGNON Chief Economist and Senior Vice-President, World Bank, USAJOS? ANTONIO CAMPO Under-Secretary-General for Economic and Social Affairs, the United Nations, BrazilMARCELO DE PAIVA ABREU Professor of Economics, Pontifical Catholic University of Rio de Janeiro, BrazilWILLIAM EASTERLY Professor of Economics (Joint with African Studies Program), New York University, USAOSVALDO LUIS KACEF Officer in Charge, Economic Development Division, CEPAL/ECLAC, ChileMAR?A ANGELA PARRA Advisor to thel#,