Neoliberalism and income distribution in Latin America

Werner Baer () and William Maloney ()

Brazilian Journal of Political Economy, 1997, vol. 17, issue 3, 358-383

Abstract: This paper reviews the principal neo-liberal policy measures instituted in LatinAmerica in the last decade and their impact on equity. It first emphasizes the difficulty ofseparating the impact of liberalization measures from the necessary fiscal adjustments of the1980s, and their transitional vs long run effects, and then places the observed movements indistribution in global and historical context. The second part places several innovations ofneo-liberal regimes in historical perspective and argues that their overall impact is unlikelyto be regressive, and that previous regimes were probably not especially progressive. Overthe long run, developments in factor markets are likely to be of overriding importance – thedemand side, driven by reoriented industrial growth and the increasing importance of theservice sector, interacting with the relative supplies of skilled and unskilled labor – are likelyto be of overriding importance in determining the evolution of the distribution of income. JEL Classification: F62; F66; O11.

Keywords: Neoliberalism; liberalization; globalization; income distribution (search for similar items in EconPapers)
Date: 1997
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