Varieties of Capitalism and its Contributions to the Study of Development in Latin America

Abstract

The literature on varieties of capitalism has significantly advanced the research on comparative political economy globally. In Latin America, this has been cited increasingly as a way to understand the development problems and alternatives for the region. Now, given the growing criticism, ?which-if at all-are its contributions to the study of development in the region? In reviewing the adaptation of this literature to Latin America and considering its criticisms and limitations, we argue it offers three ways of advancing the study of Latin American development. First, it opens new research avenues in comparative public policy; second, it allows a revitalization of old debates on regional capitalism; finally, it puts Latin America back in the study of contemporary capitalism and its future.