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What’s the Big Idea? The Third Generation of Policies for Economic Growth

Author

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  • David L. Lindauer
  • Lant Pritchett

Abstract

"Economists and reform minded policymakers in Latin America are asking themselves, and are being asked, hard questions these days. The broad consensus is that two decades of reform have had too little toshow for it. Sporadic and sputtering economic growth and stagnant real wages (especially for the unskilled) is not what was expected. This paper puts the Latin American experience in the global context and examines the processes that brought the region to this point. We look at the trends in policy advice on economic growth and how they were formed, and we address the question of what economists can do now to help the region move in restoring economic growth."

Suggested Citation

  • David L. Lindauer & Lant Pritchett, 2002. "What’s the Big Idea? The Third Generation of Policies for Economic Growth," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2002), pages 1-40, August.
    • Handle: RePEc:col:000425:008690
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    Cited by:

    1. Melo, Alberto & Rodríguez-Clare, Andrés, 2006. "Productive Development Policies and Supporting Institutions in Latin America and The Caribbean," IDB Publications (Working Papers) 3358, Inter-American Development Bank.
    2. Adam Fforde, 2005. "Persuasion: Reflections on economics, data, and the 'homogeneity assumption'," Journal of Economic Methodology, Taylor & Francis Journals, vol. 12(1), pages 63-91.
    3. Barry P. Bosworth & Susan M. Collins, 2003. "The Empirics of Growth: An Update," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 113-206.
    4. Armando Castelar Pinheiro & Regis Bonelli & Ben Ross Schneider, 2015. "Pragmatic Policy in Brazil: the Political Economy of Incomplete Market Reform," Discussion Papers 0132, Instituto de Pesquisa Econômica Aplicada - IPEA.
    5. Hodler, Roland & Dreher, Axel, 2013. "Development (paradigm) failures," Journal of Development Economics, Elsevier, vol. 101(C), pages 63-74.
    6. Ricardo Adrogué & Martin Cerisola & Gaston Gelos, 2010. "Brazil's long‐term growth performance: trying to explain the puzzle," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 37(4), pages 356-376, September.
    7. Richard Baldwin, 2013. "Trade and Industrialization after Globalization's Second Unbundling: How Building and Joining a Supply Chain Are Different and Why It Matters," NBER Chapters, in: Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century, pages 165-212, National Bureau of Economic Research, Inc.
    8. Derek Headey, 2007. "What Professor Rodrik Means by Policy Reform: Appraising a Post-Washington Paradigm," CEPA Working Papers Series WP052007, School of Economics, University of Queensland, Australia.
    9. Baldwin, Richard & Forslid, Rikard, 2023. "Globotics and Development: When Manufacturing Is Jobless and Services Are Tradeable," World Trade Review, Cambridge University Press, vol. 22(3-4), pages 302-311, October.
    10. Argentino Pessoa, 2004. "Institutional innovations, growth performance and policy," ERSA conference papers ersa04p157, European Regional Science Association.
    11. Baldwin, Richard, 2012. "Trade and industrialisation after globalisation?s 2nd unbundling: How building and joining a supply chain are different and why," CEPR Discussion Papers 8768, C.E.P.R. Discussion Papers.
    12. Mr. Jeromin Zettelmeyer, 2006. "Growth and Reforms in Latin America: A Survey of Facts and Arguments," IMF Working Papers 2006/210, International Monetary Fund.
    13. Tzeng, Cheng-Hua, 2008. "Developing high-technology latecomer firms to compete internationally: A three-sector growth model," Journal of International Management, Elsevier, vol. 14(2), pages 190-206, June.
    14. Javier Leonardo Garay Vargas & Juan Bautista Pavajeau, 2021. "Ideas erradas, acciones equivocadas : cómo el contexto internacional impide la generación de desarrollo," Books, Universidad Externado de Colombia, Facultad de Finanzas, Gobierno y Relaciones Internacionales, number 151, April.
    15. Richard Baldwin, 2011. "Trade And Industrialisation After Globalisation's 2nd Unbundling: How Building And Joining A Supply Chain Are Different And Why It Matters," NBER Working Papers 17716, National Bureau of Economic Research, Inc.
    16. Yuan Zi, 2014. "Trade Costs, Global Value Chains and Economic Development," CTEI Working Papers series 06-2014, Centre for Trade and Economic Integration, The Graduate Institute.
    17. Armando Castelar Pinheiro & Regis Bonelli & Ben Ross Schneider, 2004. "Pragmatic Policy in Brazil : the political economy of incomplete market reform," Discussion Papers 1035, Instituto de Pesquisa Econômica Aplicada - IPEA.
    18. Mckenzie,David J. & Paffhausen,Anna Luisa, 2015. "Development economics as taught in developing countries," Policy Research Working Paper Series 7521, The World Bank.
    19. V. L. Tambovtsev, 2019. "Institutions-technologies interaction and economic growth," Journal of New Economy, Ural State University of Economics, vol. 20(2), pages 55-70, May.
    20. Argentino Pessoa, 2005. "Reforma Económica e Convergência," Notas Económicas, Faculty of Economics, University of Coimbra, issue 21, pages 35-56, June.
    21. Bhaskara Rao & Maheshwar Rao, 2005. "Determinants Of Growth Rate: Some Methodological Issues With Data From Fiji," Macroeconomics 0509003, University Library of Munich, Germany.

    More about this item

    Keywords

    trends in policy advice; Latin America; history of policy advice; Latin America;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • N46 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Latin America; Caribbean
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

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