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CEPAL Review

Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of economic reform and transfer of technology. Written in English and Spanish (Revista de la Cepal), each tri-annual issue offers approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.

English Spanish

The slow comeback of industrial policies in Latin America and the Caribbean

The core of a policy for accelerating economic growth is a combination of knowledge accumulation and diversification of the productive structure. These two dimensions are the focus of the present article, which examines industrial policy experiences during the import substitution industrialization period; highlights the policies currently being applied in Latin America and the Caribbean and offers a typology of the strategies underlying them; presents the main lines of action and policy instruments; and analyses issues of policy implementation and impact. The thesis is that, while policymaking capabilities have improved, a great deal of work is still needed on implementation and on the development of effective impact evaluation methodologies. Proper evaluation will show whether industrial policies have a role to play in the region.

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