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date: 22 February 2020

Abstract and Keywords

The import substitution industrialization (ISI) model is a subtype of organized capitalism prevailing from the 1930s to the 1980s. Policies and institutions shifted rents from raw materials exports towards a nascent manufacturing sector to expand consumer non-durables production and, in time, to leap into consumer durable and capital goods production with high local content and tariff protection. This package also created new social groups, organized capital and labor, that enhanced state capacity for direct economic management. The core transformation during the past 30 years happened in how the state exercises control over the economy, rather than in simply more or less state. Direct bureaucratic control and corporatist intermediation gave way to the use of rules, guidelines, and competitive pressures to shape individual and firm behaviors. This chapter considers the former British Dominions (Australia, Canada, New Zealand), Iberia (Spain, Portugal), and the three largest Latin American countries (Argentina, Brazil, Mexico).

Keywords: import substitution industrialization model, Latin America, Southern Europe, Antipodes, neoliberal reforms, trade protection, sheltered manufacturing, trade unions, welfare systems, income transfers

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