Abstract

This research theoretically analyzes the role of institutions for organizational
development based on developmental and institutional theory, emerging relevant questions,
such as: What were the conceptual frameworks of institutional development? How did the
institutions participate in the economic evolution? How does institutional development take place in Latin America? What is the developmental model for the future? However, it does
not intend to defend political, social and/or economic ideologies, but to debate constructive
issues for sustainable development. In this respect, the research reveals that passive policies
of market operation and segmented public investment programs are not enough, but a
strategic and cooperative action between Industry-Government-University in favor of
sustainable development.

JEL Classification: D02; D23; O21; R58.