Technological Renewal and Sustainable Development of Latin America

Abstract

The article is devoted to the analysis of the causes of Latin America's technological backwardness and the potential for achieving the Sustainable Development Goals (SDGs) set in Agenda 2030. The author comes to the conclusion that deindustrialization in the Latin American region is not only the outcome of the negative processes taking place in the world, but it is also the result of the internal structural problems that have not been resolved. The dependence of the Latin American countries on income from the cheap manpower and the exploitation of natural resources is a bar to sustained employment and wage growth, stints the opportunities for technological progress and the development of production value chains. The article emphasizes that if the Latin American countries fail to dwindle the technological backwardness, they will not be able to meet the SDG 9. Improving the effectiveness of government support and carrying out broad fiscal policies in order to shove forth the technological renewal and to create a competitive production structure are two decisive factors on the way towards a more inclusive, egalitarian and sustainable society. © 2021. All Rights Reserved.