Missed Opportunities: Innovation and Resource-Based Growth in Latin America

By William F. Maloney. 2002

181 citations recorded by the source corpus.

Latin America missed opportunities for rapid resource-based growth that similarly endowed countries-Australia, Canada, Scandinavia-were able to take advantage of. Fundamental to this poor performance was deficient technological adoption driven by two factors. First, deficient national"learning"or"innovative"capacity, arising from low investment in human capital and scientific infrastructure, led to weak ability to innovate or even take advantage of technologicaladvances abroad. Second, the period of inward-looking industrialization discouraged innovation and created a sector whose growth depended on artificial monopoly rents rather than the quasi-rents arising from technological adoption, and at the same time undermined resource-intensive sectors that had the potential for dynamic growth.

Subfields: Economics and Econometrics

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Citations in the corpus

Escaping from the Resource Curse: Evidence from Botswana and the Rest of the World (2007, background): “In Latin America, high income inequality stemming from uneven distribution of resource returns has ended in failure to accumulate social and human capital, interfering with sustained growth and economic diversification (Leamer and others, 1999; de Ferranti and others, 2001; and Maloney, 2002 ).4”
CLUSTER formation, institutions and learning: the emergence of clusters and development in Chile (2005, background): “A recent analysis of economic development in Latin America notes that opportunities for rapid growth have been systematically missed because of a deficient ‘learning capacity’, which results from lack of institutions to facilitate knowledge creation and knowledge building (Maloney, 2002).”
Firm‐specific and economy wide determinants of firm profitability: Greek evidence using panel data (2009, background): “The relationship between openness and economic growth has been extensively tested in the literature with the majority of studies supporting the hypothesis that outward oriented economies that are more integrated into the global economy tend to grow faster (see, among others, Maloney, 2001”
WHY ECONOMIES SLOW: The Myth of the Resource Curse (2004, background): “Studies that use more appropriate measures of mineral abundance (such as reserves per capita or the level of natural resource exports per worker) do not find that these variables are negatively associated with growth rates (Maloney 2002; Stijns 2003).”