- Figures (and map)
- Shifting Paradigms in Latin America's Economic Development
- Institutions and the Historical Roots of Latin American Divergence
- Political Institutions, Policymaking, and Economic Policy in Latin America
- The Washington Consensus: Assessing A “damaged Brand”
- From Old to New Developmentalism in Latin America
- Environmental Sustainability
- Taming Capital Account Shocks: Managing Booms and Busts
- Exchange Rate Regimes in Latin America
- Monetary Policy in Latin America: Performance Under Crisis and the Challenges of Exuberance
- Domestic Financial Development in Latin America
- Fiscal Policy in Latin America
- Fiscal Legitimacy, Inequalities, and Democratic Consolidation in Latin America
- Latin America in the World Trade System
- Regional Integration
- The Effects of Trade Liberalization on Growth, Employment, and Wages
- The Recent Commodity Price Boom and Latin American Growth: More than New Bottles for an Old Wine?
- Curse or Blessing? Natural Resources and Human Development
- Foreign Direct Investment in Latin America
- China and the Future of Latin American Economic Development
- Latin America in the Recent Wave of International Migration
- Structural Transformation and Economic Growth in Latin America
- Learning, Technological Capabilities, and Structural Dynamics
- Why Has Productivity Growth Stagnated in Most Latin American Countries Since the Neo-Liberal Reforms?
- Agricultural and Rural Development
- An Energy Panorama of Latin America
- Infrastructure in Latin America
- The Rise and Fall of Income Inequality in Latin America
- Multidimensional Poverty in Latin America: Concept, Measurement, and Policy
- Economic Insecurity and Development in Latin America and the Caribbean
- Employment: The Dominance of the Informal Economy
- Latin American Labor Reforms: Evaluating Risk and Security
- Social Protection in Latin America: Achievements and Limitations
- Social Security Reforms in Latin America
Abstract and Keywords
The second section of this chapter presents the structuralist centre–periphery theory, a device to discuss the features that distinguish the Latin American economies (the periphery) from the developed ones (the centre). Structuralism provides a good account of the macrodynamics of technology, specialization, and relative economic growth. However, it lacks a theory of the microeconomics of learning and the accumulation of technological capabilities supporting this macrodynamics. This chapter argues that the Schumpeterian evolutionary school offers such micro-foundations and discusses the various channels linking the Schumpeterian micro with the structuralist macro. The third section discusses the growth trajectory of Latin America in the postwar period from a structuralist-Schumpeterian perspective, relating the accumulation of TCs to different institutional arrangements and policies. It suggests that the arrangements were unfavourable to learning and structural change, and discusses why the region remained in a hysteresis state after the early 1980s.
Mario Cimoli is Director of the Division of Production, Productivity, and Management of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), Santiago, and Professor of Economics, University of Venice.
Gabriel Porcile is Professor of Economics at Federal University of Paraná and Researcher of the Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPQ), Brasilia.
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