Economic Integration, Inequality and Growth: Latin America Versus the European Economies in Transition
AbstractThe paper first summarizes the theoretical and empirical literature on the growth and inequality impact of the liberalization of trade, FDI, portfolio flows, and migration. It then compares the inequality and growth performance of Latin America over 2000-2008 with that recorded during the same period in the fast liberalizing European economies in transition. The paper argues that the latter recorded growth rates of GDP slightly higher than those of Latin America, but that they experienced also greater instability and a rise in income inequality which instead declined in most of Latin America. The paper suggests that such divergent performance is mostly explained by differences in policies.
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Bibliographic InfoArticle provided by Università di Perugia, Dipartimento Economia, Finanza e Statistica in its journal Review of Economics and Institutions.
Volume (Year): 2 (2011)
Issue (Month): 2 ()
policy reforms; neo-liberal policies; international economic integration; income inequality; growth; Latin America; transition economies of Europe;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- F20 - International Economics - - International Factor Movements and International Business - - - General
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- I20 - Health, Education, and Welfare - - Education - - - General
- O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
- P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects
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