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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 dynamics of the industrial restructuring process

The structural transformation of the Latin American manufacturing sector described in the previous chapter can, for analytical purposes, be divided into two sets of events. The first is related to the restructuring process that takes place within a given manufacturing sector through the entry and exit of firms. The second concerns changes in the inter-industry pattern of production specialization, which occur when particular manufacturing activities gain relative participation within aggregate industrial GDP. These processes take place simultaneously, although the analysis addresses them separately.

English

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