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Institutional requirements for market-led development in Latin America

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dc.contributor.author Cimoli, Mario es
dc.contributor.author Correa, Nelson es
dc.contributor.author Katz, Jorge es
dc.contributor.author Studart, Rogério es
dc.date.accessioned 2014-01-02T16:51:59Z
dc.date.available 2014-01-02T16:51:59Z
dc.date.issued 2003-01 en_US
dc.identifier.isbn 9211213851 es
dc.identifier.uri http://hdl.handle.net/11362/7792
dc.description Includes bibliography es
dc.description.abstract Abstract This paper seeks to provide a systematized framework for the main ideas that have been developed by ECLAC concerning the effects that market-led reforms have had on labour, financial and technology markets. In order to explore these questions further, a research project has been undertaken by ECLAC with the sponsorship of the German Agency for Technical Cooperation (GTZ). The project deals with the institutional requirements for properly functioning financial, technology and labour markets. Particular attention is being devoted to the institutional forces affecting market access by traditionally excluded actors, such as small and medium-sized enterprises (SMEs) in the case of long-term financial and technology markets, poor households in the case of housing finance, and female workers in the case of the labour market. As a consequence of the market-led reforms, Latin America has transformed its pattern of development and the way in which its brand of capitalism is configured. At the same time, the reform process is shown to have yielded unsatisfactory results when the performance level achieved in each factor market is evaluated. Labour markets exhibit a range of difficulties in reducing unemployment and informal employment. Financial markets are characterized by concentration and by the increasing difficulties encountered by the weaker agents in accessing resources. And, in most of the economies in the region, the role played by technology markets in creating and diffusing technology domestically is being downgraded. This poor performance has co-evolved along with a reduction in the State's participation in the economy and an increasing power asymmetry in favour of private agents. The above difficulties seem to be related to the persistence of various types of market failures and the lack of non-market institutions capable of strengthening and supporting the operation of factor markets. The persistence of imperfect information, the lack of initial entitlements and gaps in learning capabilities have hindered the adaptation of various actors to the discipline of a new macro policy and incentive regime. Because of these underlying weaknesses in the institutional fabric inherited by the region, its factor markets have functioned very imperfectly and have failed to deliver what was expected of them in terms of a better long-term overall performance. es
dc.language.iso en en_US
dc.publisher ECLAC es
dc.relation.ispartofseries Serie Informes y Estudios Especiales es
dc.title Institutional requirements for market-led development in Latin America es
dc.contributor.entity Alemania. Gobierno es
dc.contributor.entity German Agency for Technical Cooperation es
dc.contributor.entity NU. CEPAL es
dc.regionaloffice Santiago es
dc.physicaldescription 57 p. : tabls. es
dc.salenumber 03.II.G.04 es
dc.callnumber INT UN/EC 93(11/2003) en_US
dc.callnumber LC/L.1839-P en_US
dc.placeofedition Santiago es
dc.subject.spanish ECONOMIA DE MERCADO es_ES
dc.subject.spanish MERCADO DE TRABAJO es_ES
dc.subject.spanish MERCADOS DE CAPITAL es_ES
dc.subject.spanish POLITICA ECONOMICA es_ES
dc.subject.spanish REFORMA ECONOMICA es_ES
dc.subject.spanish TECNOLOGIA es_ES
dc.subject.spanish SISTEMAS MONETARIOS es_ES
dc.subject.spanish RECURSOS FINANCIEROS es_ES
dc.subject.english CAPITAL MARKETS en
dc.subject.english ECONOMIC POLICY en
dc.subject.english ECONOMIC REFORM en
dc.subject.english LABOUR MARKET en
dc.subject.english MARKET ECONOMY en
dc.subject.english TECHNOLOGY en
dc.subject.english MONETARY SYSTEMS en
dc.subject.english FINANCIAL RESOURCES en
dc.coverage.spatialspa AMERICA LATINA es
dc.coverage.spatialeng LATIN AMERICA en
dc.type.biblevel Documento Completo en_US
dc.doctype Series es
dc.identifier.unsymbol LC/L.1839-P en_US
dc.publicationstatus Disponible es
dc.jobnumber S0314 E es
dc.topic.spanish SECTOR FINANCIERO Y MONETARIO es_ES
dc.topic.spanish TECNOLOGÍAS DE LA INFORMACIÓN Y LAS COMUNICACIONES (TIC) es_ES
dc.topic.spanish EMPLEO es_ES
dc.topic.spanish MICRO, PEQUEÑAS Y MEDIANAS EMPRESAS (MIPYME) es_ES
dc.topic.english FINANCIAL AND MONETARY SECTOR es
dc.topic.english INFORMATION AND COMMUNICATIONS TECHNOLOGIES (ICTS) es
dc.topic.english EMPLOYMENT es
dc.topic.english MICRO, SMALL AND MEDIUM-SIZED ENTERPRISES (MSMEs) es
dc.idsade 11770 es
dc.project Proyecto Requisitos Institucionales para una Segunda Etapa de Desarrollo Liderado por el Mercado en América Latina y el Caribe es
dc.relation.ispartofseriesno 11 es
dc.workarea.spanish DESARROLLO ECONÓMICO es_ES
dc.workarea.spanish ESTADÍSTICAS es_ES
dc.workarea.english ECONOMIC DEVELOPMENT en
dc.workarea.english STATISTICS en


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