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

Towards an efficient innovation policy in Latin America

Innovation has emerged as a central theme on the growth agenda of Latin America. This paper examines four issues. First, how can we know if Latin America really has an “innovation problem” that is behind its weak total factor productivity performance? Second, what do we mean by innovation and what are dimensions of it in which the region exhibits weaknesses? Third, what does recent experience and literature suggest for principles and broad policy measures to foment innovation? Fourth, are there any linkages between these weaknesses and equity? Since even in the Organisation for Economic Cooperation and Development (OECD) there is little consensus on the specific policies that governments should implement, and even less on their suitability to developing countries, this paper attempts to organize thinking around some basic principles and offer suggestive experience rather than specific policy advice.

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