The text below is composed of short excerpts (abstract, introduction, conclusion) from Esteban Pérez Caldentey and Matías Vernengo, “Back to the Future: Latin America’s Current Development Strategy,” International Development Economics Associates Working Paper No. 07/2008. The full text of “Back to the Future” is available (in PDF) at <networkideas.org/working/dec2008/07_2008.pdf>. — Ed.