Economic growth in Latin America
AbstractThis paper studies growth determinants in 12 Latin American countries during the period 1950-85. In a simple growth accounting framework, the share of labor in income is found to be lower in the sample group than in developed countries, while factor productivity growth accounts for a larger proportion of growth in the fastest growing countries in the sample. Using panel data, macroeconomic stability is found to play, in addition to investment (physical and human), a crucial role in growth. To a lesser extent, growth is negatively correlated with government consumption and political instability. The terms of trade appear to have no significant effect on growth.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Development Economics.
Volume (Year): 39 (1992)
Issue (Month): 1 (July)
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Web page: http://www.elsevier.com/locate/devec
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