Domestica market-led growth as a response to the crisis in Latin America. A mobilising utopia?
Abstract
The aim of this article is to examine whether a strategy centred on a fairer income distribution and the resulting expansion of the domestic market may contribute to a sustained increase in the economic growth in Latin America. Although obstacles to that strategy may look like mere utopia, it is argued that it appears to be materializing in some countries of the region such as Brazil and Argentina.
The first part of his article discusses the effects of the current international crisis on the industrial web of the main Latin American economies whereas the second part focuses on the possibilities of success from a bet on the domestic market, taking into account the influence of two factors: the scope of the external opening and the significant role of inequality in income distribution.
