Continuités et ruptures dans l’accumulation et la régulation en Amérique latine dans les années 2000 : le cas de l’Argentine, du Brésil et du Chili
Abstract
This paper reviews the main features and transformations of the institutional forms and accumulation regimes during the 2000s in three Latin American countries: Argentina, Brazil and Chile. All of them have benefited from terms of trade gains and from an export boom following China s economic assention in the world scene, though they show quite a large diversity in terms of national situations and regulation modes.In Argentina, one of the main changes in the institutional forms comes from the growing disconnection of the economy vis a vis the international finance markets and from the increasing weight of the public sector in the regulation. In Brazil, the financiarisation of the economy started in the 1990s has conferred the monetary constraint a decisive role in the mode of regulation, although the State has clearly increased its weight within the institutional forms. In Chile, where the mode of regulation is stabilized, the economic dynamism is weakening, suggesting the limits of the extensive accumulation.Even though the sources of vulnerabilities differ among the three cases, all of them are exposed to a downward adjustment on the price of export commodities. Moreover, these South American countries share the risks of suffering the “Dutch disease” inhibiting the diversification of the economic structure and the growth in employment.
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