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Market-Oriented Reforms, Domestic Technological Capabilities and Economic Development in Latin America

In: The Rise of Technological Power in the South

Author

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  • Jorge Katz

Abstract

Modern Growth Theory is not adequately equipped to illuminate the process of economic and institutional transformation that Latin American countries went through as they proceeded from ‘inward-oriented’, stateled macroeconomic policy regimes to ‘outward-oriented’, market-led models of macroeconomic management. Modern Growth Theory is specified in terms of an equilibrium algorithm, in which changes in institutions and in the structure of the economy, as well as the creation and destruction of production and technological capabilities that obtain in the transition from one macroeconomic policy regime to the other, are not part of the topics the model is set out to examine.

Suggested Citation

  • Jorge Katz, 2010. "Market-Oriented Reforms, Domestic Technological Capabilities and Economic Development in Latin America," Palgrave Macmillan Books, in: Xiaolan Fu & Luc Soete (ed.), The Rise of Technological Power in the South, chapter 6, pages 125-144, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-27612-3_7
    DOI: 10.1057/9780230276123_7
    as

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