Types of Capitalism in Latin America

Comparative Capitalism, Growth Models and Emerging Markets: The Development of the Field

“…These features provide a range of socially undesirable incentives that constitute 'negative' institutional complementarities such as low private R&D investments, little innovation and a 'low-skill trap' that precludes investments in education and training (ibid., p. 34-7). Obviously, the HME model has been criticised considerably, in particular for its inadequate capacity to capture the institutional diversity of Latin American capitalism, first and foremost the fundamental role of the state and for its pessimism that allows no vision of how to overcome these deficits (Boschi and Gaitán 2009, Sánchez-Ancochea 2009, Boschi 2011, Ebenau 2012, Bizberg 2014, Gaitán and Boschi 2015.…”

Industrial Policy in Argentina, Brazil, Chile and Mexico: a Comparative Approach

“…Second, financial resources to industrial policy have been much lower, despite a significant increase in recent years. One of the main reasons for that is that Argentina has not had a development bank as the Brazilian one (Bizberg, 2014). Finally, although the Argentinean State devised two development plans in 2011 (such as the Strategic Industrial Plan 2020 and the Innovative Argentina Plan), they were more wishful thinking than a realistic option.…”

“…Second, there were no social programmes as ambitious as the AUH or Bolsa Familia applied in Chile during this period. Although some programmes were created in order to fight the extreme poverty (Chile Solidario), to extend health coverage and to establish safeguards for workers who did not accumulate enough to get a decent pension (Bizberg, 2014), social transfers to the poor were rather modest. The significant growth of the Chilean economy in the 2000s contributed to job creation, and unemployment fell from around 10% in the period 1999-2004 (which coincided with an economic slowdown) to 6.3% in 2012-2015.…”

“…Argentina. This was partially possible because these countries (and mainly Argentina) had higher union densities compared to Latin American standards (Bizberg, 2014).…”

Electoral rule choice in transitional economies

“…However, the inclusion of MMEs and additional categories still largely focus on developed countries. Others have created theories to explain the type of capitalism in Latin America (Bizberg, 2014) and East Central Europe (Nölke and Vliegenthart, 2009). Although the inclusion of developing countries using new categories provides insight into workings of the respective countries or regions, the new VoCs are, in most cases, extremely specific and are limited regionally.…”