Science and technology policy in Latino America countries: A panel data approach

This paper analyzes science and technology policy in Latino America. Making use of panel data methods, we test for successful science and technology policy, and supporting innovation practices in Argentina, Brazil, Chile and Mexico. There are three paradigms that explain science and technology policy: the market failure paradigm, the mission paradigm, and the cooperative technology paradigm. The market failure paradigm assumes that market mechanisms will lead to optimal rates of science production and technical change. The mission technology paradigm assumes that governments may play an important role in the programmatic mission of agencies. The cooperative technology policy paradigm assumes that markets are not always the most efficient route to innovation. The results suggest that there is room for government involvement when defining a science and technology policy that aims to support the development of innovative capabilities. We conclude that mission and/ or the cooperative technology paradigms are adequate for defining a successful science and technology policy in Latino America.