The chapter discusses why in the long-run the Latin American countries failed to converge with the developed world. It is argued that this failure is related to the limits of structural change, the insufficient development of technological capabilities and weak Innovation System. Three different periods in Latin American economic history are studied from the point of view of the accumulation of technological capabilities: the first globalization boom (ca 1870-1913), the so called State-led industrialization period (SLI, ca 1930-1970) and the second globalization boom (since the 1970s and onwards). It is suggested that in all these periods, weak innovation systems led to slower structural change and economic diversification, which compromised the catching-up process.
Latin America: relative performance, structural change and technological capabilities in historical perspective
CIMOLI, Mario;
2012-01-01
Abstract
The chapter discusses why in the long-run the Latin American countries failed to converge with the developed world. It is argued that this failure is related to the limits of structural change, the insufficient development of technological capabilities and weak Innovation System. Three different periods in Latin American economic history are studied from the point of view of the accumulation of technological capabilities: the first globalization boom (ca 1870-1913), the so called State-led industrialization period (SLI, ca 1930-1970) and the second globalization boom (since the 1970s and onwards). It is suggested that in all these periods, weak innovation systems led to slower structural change and economic diversification, which compromised the catching-up process.
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