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The Double Challenge of Market and Social Incorporation: Progress and Bottlenecks in Latin America
Author(s) -
Martínez Franzoni Juliana,
SánchezAncochea Diego
Publication year - 2014
Publication title -
development policy review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.671
H-Index - 61
eISSN - 1467-7679
pISSN - 0950-6764
DOI - 10.1111/dpr.12055
Subject(s) - latin americans , politics , development economics , political science , term (time) , economy , economics , economic growth , physics , quantum mechanics , law
Has the past decade of sustained economic growth and political transformations reversed Latin America's historical failure to secure market and social incorporation? To address this question this article draws on the experiences of Bolivia, Brazil, Chile, Peru and Uruguay by distinguishing between short‐term outcomes – which may depend on benign international conditions – and policy changes, which are more important for long‐term performance. It highlights the overall success of both Brazil and Uruguay and shows that the other countries have made more progress in terms of social than market incorporation.