Market-Oriented Reforms, Domestic Technological Capabilities and Economic Development in Latin America

Jorge Katz

Chapter 6 in The Rise of Technological Power in the South, 2010, pp 125-144 from Palgrave Macmillan

Abstract: Abstract Modern Growth Theory is not adequately equipped to illuminate the process of economic and institutional transformation that Latin American countries went through as they proceeded from ‘inward-oriented’, stateled macroeconomic policy regimes to ‘outward-oriented’, market-led models of macroeconomic management. Modern Growth Theory is specified in terms of an equilibrium algorithm, in which changes in institutions and in the structure of the economy, as well as the creation and destruction of production and technological capabilities that obtain in the transition from one macroeconomic policy regime to the other, are not part of the topics the model is set out to examine.

Keywords: Foreign Direct Investment; Gross Domestic Product; Soya Bean; Technological Capability; Salmon Farming (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-27612-3_7

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DOI: 10.1057/9780230276123_7

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