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Missed opportunities: innovation and resource-based growth in Latin America

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  • Maloney, William F.

Abstract

Latin America missed opportunities for rapid resource-based growth that similarly endowed countries-Australia, Canada, Scandinavia- were able to take advantage of. Fundamental to this poor performance was deficient technological adoption driven by two factors. First, deficient national "learning" or "innovative" capacity, arising from low investment in human capital and scientific infrastructure, led to weak ability to innovate or even take advantage of technologicaladvances abroad. Second, the period of inward-looking industrialization discouraged innovation and created a sector whose growth depended on artificial monopoly rents rather than the quasi-rents arising from technological adoption, and at the same time undermined resource-intensive sectors that had the potential for dynamic growth.
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Suggested Citation

  • Maloney, William F., 2002. "Missed opportunities: innovation and resource-based growth in Latin America," LSE Research Online Documents on Economics 123253, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:123253
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    File URL: https://researchonline.lse.ac.uk/id/eprint/123253/
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    Cited by:

    1. Harris, Nicholas, 2024. "Does the case of the Chilean nitrate boom support activist or deterministic interpretations of the ‘resource curse’?," Economic History Working Papers 126154, London School of Economics and Political Science, Department of Economic History.
    2. repec:ehl:lserod:126154 is not listed on IDEAS

    More about this item

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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