Problem
How were the East Asian economies able to avoid unproductive rent-seeking by industrialists interested in earning above-normal profits who might have wanted to extend infant industry protection via the payment of bribes to government officials, while the Latin American economies seemed unable to avoid such costs? What role do "contests" play in reducing unproductive rents? Explain.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.