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Structural Reforms, Productivity and Technological Change in Latin America

image of Structural Reforms, Productivity and Technological Change in Latin America

Profound structural reforms have moved Latin America and the Caribbean from closed, state-dominated economies to ones that are more market-oriented and open to the rest of the world. This publication looks at the effects of these reforms in an effort to determine whether such expectations as growth, increased productivity, the creation of new jobs and greater equity have been fulfilled. Focusing on technological change, the publication also examines the impact of the reforms on the process of innovation.

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The institutional and technological environment for the current debate on a new policy agenda

This part of the book –chapters VI and VII– is devoted to policy issues related to the features of the Latin American economic model identified in previous chapters. If the long-term sustainability and political legitimacy of the current growth paradigm are to be maintained, labour productivity has to grow faster and the benefits of the transition to a more open, deregulated economy need to be better distributed among the various groups in society. The invisible hand has already done its share. Countries must now complement that process with the visible hand of Government and the synergies of collective action on the part of civil society.

English

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