2023-09-28 14:46:10 +00:00
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abstract: 'Applying a non-linear political economy analysis of power balances,
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institutional mechanisms, and elite structures, this study sheds light
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on the characteristics of Medellin''s economic development since the
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early 2000s. Elites with minimal technological capabilities and
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interests in promoting the advancement of transnational capitalism have
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successfully secured access to sources of power. These conditions
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(re)produce neoliberal logics of local governance that focus on economic
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growth in sectors with perceived global comparative advantages and on
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sustaining the particular power balances in Medellin''s political
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settlement. This has led to failures of generating positive forward and
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backward linkages for productivity growth of local firms, a local labour
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market marked by low wages and high employment elasticities, and large
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income inequalities. The local governance model that perpetuates
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productivity and inequality problems of the city is adopted as an
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opportunistic discourse of Medellin''s transnationalised capitalist elite
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in the larger neoliberal context of Colombia''s polity and economic
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policy agenda. In the absence of structural reforms targeting low wages
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and incentivising firms to develop technological capabilities,
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Medellin''s low productivity and high inequality problems are likely to
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persist.'
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affiliation: 'Franz, T (Corresponding Author), Univ Los Andes, Calle 18A 0-19Este,Oficina
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PU104, Bogota 111711, Colombia.
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Franz, Tobias, Univ Los Andes, Calle 18A 0-19Este,Oficina PU104, Bogota 111711,
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Colombia.'
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author: Franz, Tobias
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author-email: tb.franz@uniandes.edu.co
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author_list:
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- family: Franz
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given: Tobias
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da: '2023-09-28'
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doi: 10.1177/0269094218755560
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eissn: 1470-9325
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files: []
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issn: 0269-0942
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journal: LOCAL ECONOMY
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keywords: 'Colombia; elites; institutions; local economic development; local
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governance; local labour market; neoliberal; power; productivity;
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Medellin'
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keywords-plus: 'ENTREPRENEURIAL CITY; COLOMBIA; TRANSFORMATION; SETTLEMENTS; LESSONS;
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AFRICA; DRUGS; SOUTH; WAR'
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language: English
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month: FEB
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number: '1'
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number-of-cited-references: '108'
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pages: 85-109
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papis_id: 3ef30a68378eb88351e246de6ab0c40e
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ref: Franz2018powerbalances
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times-cited: '14'
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title: 'Power balances, transnational elites, and local economic governance: The political
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economy of development in Medellin'
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000429894100005
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usage-count-last-180-days: '2'
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usage-count-since-2013: '12'
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volume: '33'
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web-of-science-categories: Economics
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year: '2018'
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