6fi ~£s REFACE THE PRESIDENT OF THE INTER-AMERICAN DEVELOPMENT BANK, Enrique V.Iglesias, decided in 1995 that to mark the end of the century the Bank should sponsor a history of the Latin American economies over the past 100 years. The president's personal inspiration was that development could be illuminated by a historical account tracing the interplay between policymaking and economic, social and political structures and institutions. The book would not be about theoretical approaches, but rather seek to place in proper historical context the development efforts, strategies, choices, successes and failures of the different Latin American countries. At a time when the role of the state was being radically rethought, the idea was that a balanced historical account could contribute to current debate by examining the evolving state role and different approaches to policymaking.The issue of procedure then became very important. President Iglesias wanted the book to reflect the very best of Latin American scholarship, yet a sympathetic outsider had a certain comparative advantage in coordinating and synthesizing experience across the continent. We agreed on a procedure using workshops and consultancies, with an Advisory Committee bringing together outstanding scholars from Latin America, the United States and Europe. But at the end of the dayliterally, a year-I would write the book. President Iglesias then set me free to pursue the project entirely as I wished-a remarkable act of confidence.Two workshops were established to cover what were felt to be the major gaps in the comparative literature. Each produced academic volumes being published in parallel with this book under the editorship of Enrique Cardenas, Jose Antonio Ocampo and myself. This has been in itself a happy and fruitful collaboration. The parallel volumes are frequently referred to in the text as "companion volumes," and