The Advanced Stage of Industrialisation and the Argentine Pendulum: A Classical-Structuralist Approach

Ramiro E. Alvarez

Review of Political Economy, 2024, vol. 36, issue 3, 1079-1103

Abstract: This article extends the recent revisions to the two-sector model of Latin American structuralism, following the classical tradition approach, to a small economy with an advanced stage of industrialisation. After considering the incorporation of a third sector, which produces capital goods and is controlled by foreign capital, the relationships between distribution and balance of payments are analysed. The extended model enables an analytical formulation of O’Donnell’s ‘Pendulum’, by putting forward various distributive configuration alternatives on the basis of different types of alliances between the classes described therein, as well as by identifying the limitations faced by each coalition.

Date: 2024
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DOI: 10.1080/09538259.2022.2069373

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