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Quality of Latin American and Caribbean industrialization and integration into the global economy

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  • Kuwayama, Mikio

Abstract

Despite an increase in manufacturing activity in Latin America and the Caribbean, the growth in value-added generated by exports of manufactures has been disappointing in most cases. Developing Asia excels not only in the volume of trade in which the manufacturing sector serves as its primary driving force but also in the generation of manufacturing value added (MVA);. Irrespective of growing manufactured exports, the Latin American economies have not experienced the kind of dynamic restructuring of domestic production and export patterns that would allow investment to become an engine of growth. Export dynamism is almost always analyzed in gross export values, not in value-added terms. Value-added tends to be much lower particularly where developing countries are involved in low-skill, lowvalue added assembly stages of global production networks, as in electronics and apparels. The participation in the internationally integrated production systems that produce high-tech goods is not synonymous to the participation in high-technology production processes. Thus, participation in the labor-intensive segments of international production chains neither automatically brings about technology trade and technological upgrading and productivity growth as well as the technological spillovers needed to move up in the production chain. In order to harness trade as a driving force of growth not only for the manufacturing sector but also natural resource-based ones and services, Latin America and the Caribbean should adopt more proactive, forward-looking national policies, concurrent with the rapidly changing world marketplace, under a strong alliance between the public and private sectors.

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  • Kuwayama, Mikio, 2009. "Quality of Latin American and Caribbean industrialization and integration into the global economy," Comercio Internacional 4439, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    • Handle: RePEc:ecr:col025:4439
    Note: Includes bibliography
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    Cited by:

    1. Yoshimichi Murakami, 2018. "Globalization and Income Inequality in Latin America: A Review of Theoretical Developments and Recent Evidence," Discussion Paper Series DP2018-16, Research Institute for Economics & Business Administration, Kobe University, revised Aug 2018.
    2. Andrés López, 2011. "Trade and Foreign Investment in Argentina: From the Agro-export Model to the Present," Chapters, in: Werner Baer & David Fleischer (ed.), The Economies of Argentina and Brazil, chapter 22, Edward Elgar Publishing.
    3. repec:era:wpaper:dp-2015-49 is not listed on IDEAS
    4. VanGraesstek, Craig, 2010. "Trends in United States trade with Latin America and the Caribbean and trade policy towards the region," Comercio Internacional 4440, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    5. Miguel Székely & Pamela Mendoza, 2017. "Declining inequality in Latin America: structural shift or temporary phenomenon?," Oxford Development Studies, Taylor & Francis Journals, vol. 45(2), pages 204-221, April.

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