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Economic growth in Latin America: structural breaks or fundamentals

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Author Info
Rómulo A.Chumacero
J.Rodrigo Fuentes ()

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Abstract

Despite having accumulated physical and human capital at significant rates, Latin America´s growth has been generally disappointing. Successful growth episodes have been accompanied by surges in TFP, sound and stable macroeconomic policies, and fewer distortions and government interventions. Structural breaks are often cited as sources of the disappointing and heterogeneous growth performance of countries in Latin America. We find that, once controlled for external shocks and a measure of distortions, the behavior of per capita GDP in a sample of Latin American countries is remarkably stable.

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File URL: http://econ.uchile.cl/public/Archivos/pub/b41c482c-69e3-47c0-8bdc-65d97ced0a8a.pdf
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Publisher Info
Article provided by University of Chile, Department of Economics in its journal Estudios de Economia.

Volume (Year): 33 (2006)
Issue (Month): 2 Year 2006 (December)
Pages: 141-154
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Handle: RePEc:udc:esteco:v:33:y:2006:i:2:p:141-154

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Related research
Keywords: Growth; Latin America; structural breaks.;

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Find related papers by JEL classification:
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Garey Ramey & Valerie A. Ramey, 1994. "Cross-Country Evidence on the Link Between Volatility and Growth," NBER Working Papers 4959, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Mark Aguiar & Gita Gopinath, 2004. "Emerging market business cycles: the cycle is the trend," Working Papers 04-4, Federal Reserve Bank of Boston. [Downloadable!]
    Other versions:
  3. Barry P. Bosworth & Susan M. Collins and Georgetown University, 2003. "The Empirics of Growth: An Update," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2003-2), pages 113-206. [Downloadable!]
  4. Rómulo A. Chumacero & J. Rodrigo Fuentes, 2002. "On the determinants of the Chilean Economic Growth," Working Papers Central Bank of Chile 134, Central Bank of Chile. [Downloadable!]
  5. Jushan Bai & Pierre Perron, 2003. "Computation and analysis of multiple structural change models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(1), pages 1-22. [Downloadable!]
    Other versions:
  6. Jushan Bai & Pierre Perron, 1998. "Estimating and Testing Linear Models with Multiple Structural Changes," Econometrica, Econometric Society, vol. 66(1), pages 47-78, January.
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  7. César Calderón & Rodrigo Fuentes, 2006. "Complementarities between Institutions and Openness in Economic Development: Evidence for a Panel of Countries," Cuadernos de Economía (Latin American Journal of Economics), Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 43(127), pages 49-80. [Downloadable!]
  8. Harold L. Cole & Lee E. Ohanian & Alvaro Riascos & James A. Schmitz, Jr., 2006. "Latin America in the rearview mirror," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Sep.
    Other versions:
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This page was last updated on 2009-12-13.

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