II.  II. WEAKNESSES OF THE ACTUAL MODEL

ECLAC has just reduced to less than 1% this year’s projection of the Latin American rate of growth. Figure that is very low compared to last year’s, 4%.  The large economies of the region have drastically lowered their growth rate and even the Dominican Republic, the most dynamic economy in the Region, will slow down during the year 2001.  Unemployment continues to be high (8.5%) despite the reduction on the labour market’s participation rate, presenting cases such as the Colombian where the unemployment rate has reached 20%, the highest in Latin America (ECLAC 2001).  Similarly, the global context is each day even less favourable. The slowdown in the American economy and the difficult situation of Japan, darken tremendously the global panorama and therefore, the Latin American one. The recuperation of the region, already beaten by the previous decades, is hopeless.

The Interamerican Development Bank (BID) Assembly held in Chile in March of 2001, exposed even more so the significant frustrations of the 90s where the famous Washington Consensus was applied with dedication  (Iglesias, Enrique, 2001). Without denying the achievements in terms of macro-economic stability and of the monetary authorities’ increased international credibility, the truth is that neither in terms of growth nor in social results, the expected results were accomplished.  Furthermore, the accumulation of frustration by societies that have been waiting for the Latin American miracle, is generating serious political problems that compromise the governability of the region. For some researchers, the 90s may be also considered as a lost decade.

During the 90s, Latin America undertook the per capita growth road but to a much lesser degree than the necessary to reduce poverty (6% or 7%) and even lower to the one registered in the region between 1945 and 1980 (5.5% annually). The growth of the 90’s decade was achieved through the stability in the principal macroeconomic indices, low inflation, and reduced fiscal deficit.  The opening of these economies was consolidated through the advancement of exports which grew at an average 8.9% per annum, but this growth was achieved principally in Mexico. The worldwide participation of the Latin-American exports continues to be insignificant and slightly superior to 5% of the total.  A significant volume of Foreign Investment was attracted to the region but this advance did not completely translate into an increase in productivity; nearly 40% of the investments were fusions or acquisitions of existing assets (CEPAL, 2000) (López, Cecilia, 2000a).

The achievements are even smaller in the social area: poverty was reduced with respect to the levels seen during the 80s, from 41% to 36%; but at the end of the lost decade the number of poor people reached 211 million.  The social expenditure with respect to GDP rose to more than 12% although there were no advances in the reduction of inequity to more acceptable levels(CEPAL, 2000 y 2001).

Additionally, the setbacks are many. Throughout the 90s, investment in Latin America did not reach the levels of the 70s when it was already considered insufficient. Furthermore, the Foreign Investment that the region was able to attract did not generate the expected new assets nor the well announced technological revolution.  Even worst, in several Latin-American countries foreign investors took advantage of the internal disorganization to accrue disproportionate gains (López, Cecilia, 2000b).

But it is on the foreign sector where foul surprises are found. Exports did grow but mostly in Mexico and when directed to the United States with items such as the first and second generation maquilas. There was poor or none at all diversification of markets and products. By the same token, imports rose even more than exports generating a dangerous unbalance among the external accounts and putting  the region in trade deficit levels similar to those of the 70s, but with growth two points lower. (CEPAL, 2000).

What has happened with productivity is extremely serious. Supposedly, the exposure to the international markets generates a challenge for the national industry, which consequently forces a growth in the competitiveness levels of such industry. During the last decade, the medium labor productivity was inferior to the one registered between 1950 and 1980 and the factor’s total productivity grew only 1.3% per annum when compare to 2.1% in the three decades prior to the 80s crisis (CEPAL, 2000).

Nevertheless and probably the most serious factor was that the non-transable sectors were the ones that grew when the most promising expectations for growth were on the transables, which completely lost their importance. To make matters worst, a process of productive concentration derived in making the transnational corporations and the large industries the biggest winners while the small and medium size enterprises became the big losers (CEPAL, 2000).

In addition, due to the exploitation of natural resources, the economic model is  contaminating and unsustainable, particularly in South America. In this sub region, the Washington Consensus did not produce the necessary  transformation needed to change the growth pattern and to therefore guarantee intergenerational equity. The future of the next South American generation is compromised by the way in which natural resources are being exploited (CEPAL, 2000).

In regards to the social results, the largest problems are related to equity, a main issue in the region, and to the behavior of the labor market where the only valuable asset was the massive entrance of women into this force even with its persistent patterns of discrimination and occupational segregation. Not only the income distribution was not improved in the group of Latin American countries but  today some of them are in a more precarious position than three decades ago (López, Cecilia, 2000a).

With respect to the labor market, the open unemployment grows three percentage points during the decade, maintaining and furthermore increasing women’s unemployment rate with respect to the male’s one. On the other hand, according to ILO, for every 10 new jobs six are generated within the informal sector. At the same time, the gap among qualified workers and not qualified ones widened significantly in terms of remuneration.  But probably, the gravest thing and maybe the least analyzed issue is the fact that during the last decade, Latin America lost its opportunity of what is known as the Demographic Bonus. That is, the largest growth of its labor offer with respect to its population’s total growth. This phenomena also occurred in the South Asian Region and it is associated to its large economic growth rates up to their crisis. In Latin America it is consistent with weak economies and because of it, the largest relative offer of population in working age translated into unemployment instead of in growth and equity (CEPAL, 2000).

A good way to describe the social frustrations of the Region, in the dawn of the new century, is recognizing the fact that only half of Latin-American youth feel they are better of that their parents. (Lora, Eduardo, 2000). Most definitely, the results of the Washington Consensus do not justify to further continuing with the same economic and social strategies.

III. ON THE WAY TO A NEW SUSTAINABLE DEVELOPMENT PARADIGM

The very own preparatory documents of the Conference and the ensuing opinions of the people responsible for the Bretton Woods and OMC institutions, show signs of opening even it is only due to the need to advance the foreign trade negotiations or to avoid risks of loosing governance.  Through them, they acknowledge that the orthodoxy of the Washington Consensus has not been as successful as they hoped and that changes are needed now. This opens a new space for debate. In one hand we have those who propose some changes to the actual structure, a “Gatopardista” posture that changes a little so nothing will be changed, and those who believe that a space to explore new alternatives is now open and should be used.

Through some compensatory measures, the first alternative centers its efforts in tallying the actual strategies to impose macroeconomic stability as the fundamental axis of development (Birdsall, Nancy y de la Torre, Augusto, 2000).

But the recent deterioration that has lowered the growth expectance for the region, re-estimate the search for a new paradigm that removes the regime of the single model. This is precisely the forgotten issue in the Financing for Development Conference’s preparatory documents.

The interrelation between the macroeconomic management and the population’s standard of leaving are clearer each day. The social cost of several decades of adjustment has evidenced the lack of neutrality, in terms of equity, of the economic variables. And it is by entering this space that gender equity becomes a priority as it is impossible to have a fair society when such inequality exists among 50% of the population, women, and the other 50% of it, men.  It is necessary to recognize that theses costs are not the same for both men and women. The latter have not only been affected as members of their households but also as a result of the gender division of labor.

There is an over representation of women among the poor of the world. In the frame of questioning and reformulating development model, this must be especially considered when designing new equity policies but particularly when doing so with gender equity. It is necessary to take into account poverty and its economic implication such as lack of power and voice among that group.

Given the persistent imbalance that generate the functioning of the markets, how can the economic reconvention process assures the possibility of selling those products and services that the international markets want to buy? Precisely, the liberalization of the markets has been functional for the large economies.  As it was once said, in Latin America, the opening of the economies was inwards and brought with it an unmeasured growth of imports from industrialized countries, especially from the United States. Even for those who insist on a modified Washington Consensus, the reduction of protectionism from rich countries is an absolute priority.  They propose to eliminate the agricultural support policies in OECD countries in order to move the production of their inefficient products to lower cost developing countries. By the same token, they propose to give more attention to the results generated by the protection of the rich countries’ markets on the poor ones  (Birsdall, Nancy y de la Torre, Augusto, 2000).

Besides, how new production schemes are able to leave back  the single unsustainable exploitation of their natural resources, the excluding rents and generate enough employment to take advantage of the demographic bonus that is occurring today in the Region? (BID. 2000). Additionally and, probably most important, what is supposed to be done, in order to stop being the most unequal region of the planet and to lay the foundations so that democracy becomes a reality? How does one make sure that equality of gender and the elimination of all the forms of discrimination against women are finally assumed as a high-priority objective? 

3. 1. Gender and Development

The economic contribution of women is  becoming more and more visible. Therefore, one of the great advances is the generalized recognition of gender equality as a development problem, as an objective in itself. The massive differences of gender have unavoidable economic and social consequences. It is recognized that greater levels of equality contribute to accelerate economic growth,  to the reduction of the poverty and to a greater capacity to govern efficiently. "Promoting the fairness or even better gender equality, is therefore an important element of a development strategy and propose to obtain that everybody - women and men- can escape poverty and improve their life standard." (World Bank, 2001).

                             Graph 1

A value of 1 indicates low equity, 4 indicates high equity.
Source:    Humana 1992, quoted on: World Bank, Engendering Development, 2001.

Despite these advances, the discrimination by gender is a reality in many dimensions of life, all over the world. This discrimination varies between countries and regions and in the developing countries do not exist a place, where women are equal to men in terms of legal, economic and social rights (World Bank, 2001). Even in industrialized societies there are clear differences, related to access that men and women have to the productive resources, to  power, opportunities and political life. There is no a single country in the world where these unexplainable and unfair breaches between men and women have been eliminated in all fields of the important activities. In the economic field, women are the majority only in those part time jobs, with low or no salary.  Just 5% of the high executives and 11% of the parliamentarians of the world, are women (Picciotto, Robert, 1998). Including the more developed countries the handling of political power continues being eminently masculine.

Only until recently, it has being recognized that gender is an analytical category essential to understand unfairness in fields that were considered neutral like macroeconomics and, therefore, in the nature and dynamics of the transformation of the economies and the societies. An international consensus emerges around the convenience of obtaining the eradication of poverty and the promotion of gender equality  (Cagatay, Nilufer, 1998).

A recent World Bank paper states that norms,  values,  rules and  practices that determine the form in which a woman should be treated within the home and by the diverse institutions in the society have not changed, in spite of the economic progress and more than 40 years in which women had been object of development programs (Narayan, Deepa and Shah, Talat, 2000). To obtain gender equality  is then a pending task that can find new channels in a less economic  but more comprehensive development conception.

When today it is recognized that " a new global strategy must be implemented, with greater resources, a greater focalization and a more hard commitment " (UNDP, 2000) the opportunity appears to open the view to consider the gender like a fundamental variable. Reasons for it there are many. Men and women are located in a differential way in the labor market, have different coverage in the social security systems and their status and power within the family is different. Even more, the subject of macroeconomics and gender, that seemed  unapproachable, have entry into force as a result of the series of macroeconomic adjustments that the diverse countries have had to approach to fulfill the goals of stability in the economies, imposed by the international institutions.

Two key elements stand out. First, the adjustments strategies do not affect in an equal way men and women and second, key macroeconomic variables  as saving, consumption and probably investment have different behaviors according to gender. Given the negative impacts that on the levels of poverty have generally the application of the Washington Consensus, this effect and the differential cost of the policies among men and women have acquired great relevance. But the economic reality of women is not only marked by this different intensity from the measures effects. Of ampler way, it is characterized by a dynamics that chains the macroeconomic operation to a domestic order that demands them to work for free and to take the surviving responsibility of the family and that has systematically projected them like not economic beings or like economic agents of second class.

Thus, disregarding economic value of the reproductive work of women at home, the positive effects of the policies implemented in the world and particularly in Latin America have been overestimated, in the last decades. Women have duplicated their services load in the society replacing a State that was reduced and therefore it has been assumed as more efficient (Cagatay, Nilufer, 1998).

Also, evidence exists on the form in which women fundamentally orient their consumption towards the essential expenses of the family, while the men dedicate more to their hobbies, alcohol, tobacco, etc. (DNP, 1998). With smaller statistical sustenance it can be assumed a different propensity to save and diverse forms of investment.  Without a doubt the survival of the family has been always much more high-priority for women than for men, specially in developing societies.

In addition to previous arguments, one thesis is beginning to gain ground: the macroeconomic policy is not neutral in social terms, and on the urgent necessity to examine ex-ante the social effects of those policies. One ties this way the economy, equity and gender. This interrelation must become fundamental stone of the new development paradigm. Once these links are recognized it would be inexcusable that specific problems of women could be marginalized out of the central debate about development.

n addition, it must be accepted, that men not always end immune to processes of economic adjustment and productive transformation. The present society is not the one of always; at the moment women accede to estates reserved historically to men. To observe the impacts of these changes not only on women but on men and more even of the social relations between men and women, will allow to construct dynamic, sustainable and fair societies.

3.2. Financing for development

It exists a clear interrelation between the model of development and its forms of financing.  At the moment, the originating funds of the multilateral organisms define the model of current growth in the developing countries. Today it is evident that the great winner of this economic scheme has been the financial capital, whose greater concentration occurs in the industrialized societies. On the other hand, the same model generates the scenery in which the private capital flows. The high mobility of these financial resources supported in the deregulation of the capital markets, stimulates the flows that are characterized by their volatility and facilitates speculation.  With respect to the generation of internal resources for development, those that the document of the Conference suppose as the genuine source of financing, is limited by the incapacity of the countries to generate internal savings and therefore the necessary investment. Also, every time is more evident that the Official Development Aid (ODA),is not the element that is going to define the future of the developing countries, taking into account its reduce volume, the internal restrictions of the donors and the implicit conditionality in itself.

The other pillar of resources generation, the liberalization of the markets of goods and services, that was supposed to act as the dynamic element of growth in the countries and the best allocation of the resources, did not reach the results anticipated by the model promoters.  First, because the free commerce is not so free, indeed because those that preaches it do not apply it. The countries of the first world continue subsidizing  agriculture and imposing non-tariff barriers according to their convenience, instruments that are forbidden to the developing countries. Second, because the transnational enterprises  control processes that happen in different national spaces, and are not regulated at all. An additional limitation is born of the priority that the model assigns to the world market and to the external investment. This priority is translated in to damage of the internal market as well as in the deterioration of the work force. For the previous reasons, any proposal on financing for development must consider as essential, the reformulation of the current economic model.

3.3.Bases for a New Paradigm

As Dani Rodrik proposes, the opening of the economies to the world-wide markets can be the source of many potential economic benefits, if it is complemented with policies and national institutions. In fact, the countries that grew more rapid from mid 70’s on, have been those that have invested their gross national product and have maintained macro economic stability. Finally, the efforts of development of the diverse countries do not have to converge in a single model of " good economic behavior " (Rodrik, Dani, 1999).

In accordance to the previous idea, the pillars of a new proposal could be: first, to value and to design an internal strategy of development, according to the characteristics of each country, that complements the external effort. This implies a policy of long term to recover the investment like the dynamic element of the economy that adapts its institutions and their programs in diverse fields to the new world-wide realities. In addition, searching new sources of growth, can reduce the over-exploitation of the natural resources and a sustainable growth becomes possible. Second, to establish and to define as great priority, a New Social Contract, supported in all the economic and social actors and actresses, recognizing that gender equality is fundamental in order to obtain the social fairness based on the economic democracy. Third, neo-liberal orthodoxy  must be limited to its true dimensions, that is to the definition of the macroeconomic policy.  It should be stripped from the magic powers once attributed to it (Lopez, Cecilia, 2001a).

The search of a new paradigm must lead to the improvement, in a  significant  and sustainable way, of the well-being of all Latin Americans, within the new world-wide context. When introducing the concept of gender equality, development should drastically reduce the asymmetry between men and women. After rising the previous concept, one will have advanced in the intention to construct true fair societies. This is not only an ethical problem but one of development (Lopez, Cecilia, 2001a).

3. 3.1. The Internal Strategy of Development

Without ignoring the potential advantages of the opening of the economies, the internal efforts would have to take into consideration the interests and specific problems of each country. When identifying critical fronts of action in order to increase  exports and to substitute imports, the objective must be the generation of wealth and the equitable distribution of it. (Rodrik, Dani, 1999)

It must be considered that women do not have to be treated like a vulnerable group, despite the predominance of discrimination elements. Women constitute  a majority of the absolutely heterogeneous population and within this group, poverty predominates. To try to approach its realities with small projects of development, limited resources and with welfare character, has demonstrated to be an inoperative strategy.   Women have had been included into " the great leagues " and must be considered still in equalitarian terms  with the men in development policies. The central point is to recognize its specificities in the diverse areas. One of great products of the Decade of Woman was not to reach equality, which does not exist in this planet, but it was to make its contribution visible and the barriers that face.

Taking as a reference, part of the previous criteria, leads to conclude that the search of gender equality  must be one of the objectives of the new paradigm. When recognizing that men and women participate in diverse way in the different productive activities, when key sectors are identified, the strategies must contain criteria to prevent that the gender differences exclude men or women from development. In this way productive enclosed processes will be obtained.

In order to stimulate the saving and the internal investment, critic variable to generate wealth, it is necessary to explore the gender differences in relation to these variables. There is not enough knowledge on this subject, but if the demand by this type of analysis arises, the academy will have to respond.

The successful insertion of the national economy in the world-wide markets, can favor female employment, since it has been already demonstrated by experience. The important thing is to win the space competing with productivity and not with low wages, as it is happening in many countries of the area.

3.3.2. A New Social Contract

The principle that should be applied is " economic democracy”,  that states that  all  human beings have the right to receive the necessary income for a dignify life for her or his family (Lopez, Cecilia, 1999). Obvious this greater participation of different sectors from the society in the economic production and its distribution can generate a more equitable development as long as it goes accompanied of greater access to power of all those that contribute to the generation of wealth. Three are the elements to obtain this purpose: the creation of productive employment, the leveling of opportunities and the increase of the labor productivity in the sectors with low income.

The new Social Contract should have as priorities the employment generation, equal opportunities for men and women and increases in productivity within the  poorest  groups of the society.  As a result, the unexplainable and unfair differences between men and women should be reduced in order to build more equalitarian societies.

3.3.3. Macroeconomic Policy

The equilibrium in macroeconomic variables should be preserved, but the real objectives of the economic policy, rate of growth, stability and the employment are due to be considered (Ferrer, Aldo, 1996). The macroeconomic policy must recognize the mistakes that have generated immense social costs in the Region. Sufficient analyses exist to design strategies in this field that can be adjusted to the new priorities of sustainable growth in economic, political and social terms (Cepal, 2001). Since it has been mentioned, ignoring the true contributions of the woman in terms of its reproductive work when the social cost is reduced, has overestimated the real efficiency of economic adjustments. Therefore, equality of gender and macroeconomics today constitute a new dimension of analysis that contributes significantly to the social equity.

IV CONCLUSIONS

The debates on the financing for development, subject of this Conference, must begin to recognize the fundamental problems of development itself.  Definitively, humanity expects real changes in guidelines, forms and paradigms to follow.  Particularly, developing societies, far away from the well-being levels that enjoy the industrialized countries, are those that must impel these analyses. But even  the rich countries undergo at the moment the negative consequences of poverty, inequality and the harmful feelings that these circumstances generate, in great areas of the present world. In the context of globalization it is impossible to ignore the poverty of many and the wealth of few.

The scheme of development imposed by the leaders of the world, conditions the capacities of the individual nations. If new paradigms that recognize the specificities of the countries are not adopted, the restrictions imposed by the actual model- its non-sustainability, the little importance attributed to equality in general and particularly gender equality- would limit the efforts that are made to construct a fair and more dynamic world.

The world is facing today a deceleration of its rate of growth and Latin America walks towards the stagnation. Without denying the importance of obtaining high rates of economic growth, in developed and developing societies, poverty, distribution and fairness are unable to wait. According to Galbraith, this is the great debt that humanity maintains during centuries.

One of the great pending revolutions is the one that eliminates the unjust and unexplainable inequalities between men and women. Gender equality  must clearly be recognized like key for growth. Identifying men and women as equal avoids underestimating the contribution of half of the humanity and this is a fundamental step to arrive at fair societies. The differences that still persist between men and women demand changes more radical than the generated ones by the present policies. The values, the norms, the social codes must change so that the causes of the great ruling differences between men and women may be eliminated, even in advanced societies. The gender slants that impregnate the institutions, the markets and the economic processes, have been sufficiently analyzed and, in many cases, they have been reinforced by the macroeconomic policies and the strategies of development.

In the specific subject of the Conference, the discussion about how to eliminate the financial barriers for development, demands  deeper considerations than the raised ones until now.  The fiscal, financial and commerce systems have a social meaning and are impregnated by norms of gender ignored by the economic agents. The inclusion of gender in all process of political and economic decision, simply does not mean " to add women and mix ". It implies adopting an approach that is in fact transforming. It is about the integration to the public agenda, in a cross-sectional way of the objectives of equality between the genders.  It is also the recognition of the contribution of the reproductive economy in the referring proposals to the financing for development.

The equality of gender, the subject of development and its financing had been boarded in this document from an integral vision. The fragmented approach of the specific problems of women in development, generates not only incoherence but it prevents to visualize the narrow relation between the economic order and the gender order that sustains it.

This Conference cannot ignore the negative results in growth terms, sustainability and equality, in Latin America.  Searching new forms of financing for development, the evaluation of the current model is obviously, urgent. Between its great challenges is the overcoming of the excluding pattern that has characterized the present societies.

Apendix  I

THE NINETIES: THE GOOD, THE BAD AND THE UGLY

Source: Lopez, Cecilia, 2000a  Data from ECLAC

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