The competitiveness of Latin-American economies: Consolidation of the double diamond theory

•Based on the “diamond competitiveness” approach, we evaluated the competitiveness of Latin American (LA) economies.•Our research has clear implications for academics and policymakers, especially concerning less developed LA economies.•The results show that in Latin America there are three distinct...

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Bibliographic Details
Published in:Economic systems 2016-09, Vol.40 (3), p.373-386
Main Authors: Castro-Gonzáles, Segundo, Peña-Vinces, Jesús C., Guillen, Jorge
Format: Article
Language:English
Subjects:
Competition
Developing countries
Economic development
Economic models
Economic theory
Emerging economies
Emerging markets
Global competitiveness (domestic/international)
Latin America
Latin-American economies
LDCs
Studies
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Summary:•Based on the “diamond competitiveness” approach, we evaluated the competitiveness of Latin American (LA) economies.•Our research has clear implications for academics and policymakers, especially concerning less developed LA economies.•The results show that in Latin America there are three distinct competitive levels: high, medium and low. The aim of this research is to assess the competitiveness of countries through the development of a new model, which is much simpler than those currently in use. The premise of this research is based on the fact that the current models contain numerous indicators/measures and cannot be applied to other contexts, such as the Latin American (LA) one. Based on the “diamond competitiveness” approach, we developed a model for the LA economies (Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay and Venezuela). Our model has clear implications for both academics and policymakers and could help design state policies to improve economic growth, especially for the less developed LA economies.
ISSN:0939-3625
1878-5433
DOI:10.1016/j.ecosys.2015.10.003