PSYCHOCULTURAL CONDITIONS AND ECONOMIC DEVELOPMENT: SAVING AND INVESTMENT BEHAVIOR IN EAST ASIA AND LATIN AMERICA

1989 ◽  
Vol 3 (2) ◽  
pp. 48-64 ◽  
Author(s):  
Nathaniel H. Leff ◽  
Kazuo Sato
Keyword(s):  
Economic Development ◽  
Latin America ◽  
East Asia ◽  
Investment Behavior

scholarly journals Sectorial specialisation in East Asia and Latin America compared

2002 ◽  
Vol 22 (4) ◽  
pp. 613-634 ◽  
Author(s):  
MARCELA MIOZZO
Keyword(s):  
Economic Development ◽  
Latin America ◽  
East Asia ◽  
Latin American ◽  
East Asian ◽  
Institutional Arrangements ◽  
The Other ◽  
Asian Countries ◽  
The Government ◽  
Latin American Countries

ABSTRACT East Asian countries have been successful at specialising in machinery and capital goods. Latin American countries, on the other hand, have retreated from these sectors, reinforcing their specialisation in resource-intensive goods. Institutional arrangements in place in both regions explain these divergences. In particular, the differences in the strategy and structure of leading firms, the nature of industrial promotion by the government, the development and support of small and medium-sized firms and the operation of foreign-owned firms may explain the respective success and failure in sectoral specialisation in machinery. Failure to develop these sectors may hinder the process of economic development.

The Evolving Role of Manufacturing in Economic Development

2018 ◽  
pp. 146-173
Author(s):  
Richard M. Auty ◽  
Haydn I. Furlonge
Keyword(s):  
Economic Development ◽  
Latin America ◽  
East Asia ◽  
Latin American ◽  
Comparative Advantage ◽  
Best Practice ◽  
Import Substitution ◽  
Dutch Disease ◽  
Budget Constraints ◽  
Soft Budget Constraints

Differences in industrial policy explain why Latin America lost its head start in economic development to East Asia. Latin America persisted with industrialization by import substitution under soft budget constraints, which failed to mature and generate adequate foreign exchange and government revenues. In contrast, East Asia abandoned import substitution early to pursue competitive industrialization under hard budget constraints that incentivized rapid sector maturation. East Asia is closing the productivity gap with the US, but Taiwan’s cautious competitive industrialization is more welfare-enhancing than South Korea’s aggressive big push. Chile pioneered Latin American reform in line with its comparative advantage in commodity-driven growth and successfully managed its mineral rent to become best practice. However, diversification remains constrained and economic growth has slowed. Brazilian reforms have been less effective than Chile in managing rents to minimize Dutch disease and curb growth-sapping rent-seeking. However, contrary to Rodrik, this chapter argues that Latin American structural change reflects realignment with comparative advantage and not premature deindustrialization.

The Politics of Social Investment

2017 ◽  
Author(s):  
Silja Häusermann ◽  
Bruno Palier
Keyword(s):  
Latin America ◽  
East Asia ◽  
Family Policy ◽  
Political Support ◽  
Second Step ◽  
South East Asia ◽  
Social Investment ◽  
Middle Classes ◽  
The Social ◽  
Specific Substance

Recent research on the development of social investment has demonstrated reform progress not only in different regions of Europe, but also in Latin America and South-East Asia. However, the specific substance of the social investment agendas varies strongly between these regions. Why have social investment ideas and policies been more developed in some regions and countries than in others? Building on the theoretical framework of this volume, our chapter suggests that the content of regional social investment agendas depends on policy legacies in terms of investment vs consumption-oriented policies and their interaction with structural pressures. In a second step, we argue that the chances of social investment agendas to be implemented depend on the availability of political support coalitions between organizational representatives of the educated middle classes and either business or working-class actors. We illustrate our claims with reference to family policy developments in France, Germany, and Switzerland.

Sign in / Sign up

Export Citation Format

Share Document