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Efficiency And Equity Aspects Of The

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  • Jorge Katz

Abstract

The joint impact of long term structural features, on the one hand, and of recent market-oriented reforms in the macroeconomic incentive regime, on the other, are inducing major changes in social and production organization throughout the Latin American region. The new economic model is quite different in structure and performance from the one Latin American countries exhibited during the Import Substitution Industrialization (ISI) period. Non tradable activities such as telecommunications, energy or transport services, natural resource processing industries producing low value added industrial 'commodities' and assembly industries ('maquiladoras'), producing computers, TV and Video sets and garments for the US market, together with the vehicle industry, which has managed to receive preferential treatment from the part of the various governments in the region, have performed much better than average, both in terms of labor productivity growth as well as in terms of 'catching up' with the international productivity frontier. Contrary to the above, unskilled labor, and engineering and knowledge intensive industries, have performed worse than average and are 'falling behind' international standards. Domestic subsidiaries of multinational corporations and large local conglomerates are gaining ground within GDP, while SMEs and public enterprises have been losing it. The paper examines some of the macro-to- micro relations underlying the above mentioned process of structural transformation and the interdependency between economic, technological and institutional forces inducing it. It argues that 'main stream' economics fails adequately to capture the role played by such interdependencies and offers a policy advice which can not deal with the new efficiency and equity problems resulting from recent structural changes.

Suggested Citation

  • Jorge Katz, 2002. "Efficiency And Equity Aspects Of The," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 11(4-5), pages 423-439.
  • Handle: RePEc:taf:ecinnt:v:11:y:2002:i:4-5:p:423-439
    DOI: 10.1080/10438590200000007
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    References listed on IDEAS

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    1. Giovanni Dosi & Christopher Freeman & Richard Nelson & Gerarld Silverberg & Luc Soete (ed.), 1988. "Technical Change and Economic Theory," LEM Book Series, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy, number dosietal-1988, November.
    2. Joseph E. Stiglitz, 1999. "More instruments and broader goals: moving toward the Post-Washington Consensus," Brazilian Journal of Political Economy, Center of Political Economy, vol. 19(1), pages 101-128.
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    Cited by:

    1. Vidican Auktor, Georgeta & Regeni, Giulio, 2017. "The developmental state in the 21st century: calling for a new social contract," IDOS Discussion Papers 5/2017, German Institute of Development and Sustainability (IDOS).
    2. Velho, Lea, 2004. "Science and Technology in Latin America and the Caribbean: An Overview," UNU-INTECH Discussion Paper Series 2004-04, United Nations University - INTECH.
    3. Katz, Jorge, 2006. "Structural change and domestic technological capabilities," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.

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