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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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Foreword

At the start of the new decade, the debate on economic policy centres on the consequence of the reforms implemented in Latin America and the Caribbean in the last two decades. Trade and financial liberalization and the privatization of production activities have radically altered the rules of the game governing labour and business. The macroeconomic policy changes that accompanied or preceded the reforms sometimes strengthened the latter’s specific objectives, especially the growth of exports, but on other occasions they had the opposite effect. That combination of factors prompted the emergence of new market structures and transformations in microeconomic behaviour.

English

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