The policy roots of socioeconomic stagnation and environmental implosion: Latin America 1950-2000
Author
dc.contributor.author
López Vega, Ramón
Admission date
dc.date.accessioned
2018-08-09T20:24:40Z
Available date
dc.date.available
2018-08-09T20:24:40Z
Publication date
dc.date.issued
2003
Cita de ítem
dc.identifier.citation
World Development Vol. 31, No. 2, February 2003, Pages 259-280
es_ES
Identifier
dc.identifier.issn
0305-750X
Identifier
dc.identifier.other
https://doi.org/10.1016/S0305-750X(02)00187-0
Identifier
dc.identifier.uri
https://repositorio.uchile.cl/handle/2250/150833
Abstract
dc.description.abstract
The persistence of growth and its equity and environmental effects heavily depend on the composition of asset investments. Physical, human, and natural capital are the key assets behind the development process. Market failures tend to affect the accumulation of such assets asymmetrically, leading to underinvestment in human and natural capital. Public policy in Latin America has generally exacerbated such market failures by promoting physical capital investments using massive public subsidies instead of relying on the expansion of public and semipublic assets that complement physical capital. The result: economic stagnation, deep social inequities and environmental destruction.