
Contents
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Introduction: Disenchantment with Industrialization in Latin America Introduction: Disenchantment with Industrialization in Latin America
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Four Impulses of Import-Substituting Industrialization (ISI) Four Impulses of Import-Substituting Industrialization (ISI)
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Characteristics of the Initial Phase of ISI Characteristics of the Initial Phase of ISI
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Industrialization by Tightly Separated Stages Industrialization by Tightly Separated Stages
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“Late” vs. “Late Late” Industrialization “Late” vs. “Late Late” Industrialization
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The Sources of Entrepreneurship The Sources of Entrepreneurship
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The Exuberant Phase of ISI and Its Political Consequences The Exuberant Phase of ISI and Its Political Consequences
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The Alleged Exhaustion of Import Substitution The Alleged Exhaustion of Import Substitution
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A Naive and a Seminaive Exhaustion Model A Naive and a Seminaive Exhaustion Model
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Criticism of the Seminaive Model: The Importance of Policy Criticism of the Seminaive Model: The Importance of Policy
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Economic, Political, and Technological Determinants of Backward Linkage Economic, Political, and Technological Determinants of Backward Linkage
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The Inability to Export Manufactures: “Structural” Causes and Remedies The Inability to Export Manufactures: “Structural” Causes and Remedies
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Conclusion Conclusion
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Notes Notes
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The Political Economy of Import-Substituting Industrialization in Latin America
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Published:October 2013
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Abstract
This chapter surveys some characteristics of “import-substituting industrialization” in an attempt to appraise its evolution and the principal difficulties it has encountered. Some purely economic aspects of the problem are discussed, but particular attention is directed to interrelations with social and political life, as industrialization—one of the principal solutions for Latin America's development—has led to some feelings of disenchantment. It becomes necessary here to have a clear-eyed view of what “late-late” industrializing is; instead of exhaustion, this chapter posits that Latin Americans are confronted with the growing pains of having industrialized without an industrial revolution (basic social and political changes).
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