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Latin America at a Crossroads: Controversies on Growth, Income Distribution and Structural Change

Carlos Aguiar de Medeiros () and Nicholas Trebat ()
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Carlos Aguiar de Medeiros: Institute of Economics, UFRJ
Nicholas Trebat: Institute of Economics, UFRJ

No CSWP22, Centro Sraffa Working Papers from Centro di Ricerche e Documentazione "Piero Sraffa"

Abstract: This paper discusses the connections established in recent non–neoclassical literature between growth, structural change and income distribution in large developing econo-mies. We argue that though many analyses have the merit of reintroducing income distribution as a factor in economic growth, they rely almost exclusively on macroeconomic theory, and thus ignore the structural changes that have taken place in recent decades and the ways in which structural aspects of an economy (such as resource availability, market size and geopolitical factors) affect policy options and growth. We argue that Latin American countries today face the same challenge that has constrained their development trajectory historically: to diversify their economic structure through new technological capabilities and greater equality and social progress.

Keywords: Structuralism; profit–led; devaluation; New Developmentalism (search for similar items in EconPapers)
JEL-codes: E60 O13 O40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hme, nep-lam, nep-mac and nep-pke
Date: 2016-10
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Persistent link: https://EconPapers.repec.org/RePEc:ris:sraffa:0022

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