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The Economic Growth of East Asia and Latin America in Comparative Perspective

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  • Anthony Elson

Abstract

This paper attempts to identify key factors that can account for the divergent economic performance of East Asia and Latin America during the second half of the 20th century. Within the triad of so-called “deep determinants†of economic growth (geography, policy and institutions), the paper argues that differences in policy and institutions are most important in accounting for this regional divergence. In contrast with East Asia, Latin America has exhibited continuing problems of macroeconomic instability and a much weaker degree of integration into the global economy. In addition, there are marked institutional differences between the two regions, with East Asia identified with stronger public institutions and indicators of government effectiveness.

Suggested Citation

  • Anthony Elson, 2006. "The Economic Growth of East Asia and Latin America in Comparative Perspective," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 7(2), pages 97-114, April.
    • Handle: RePEc:wej:wldecn:241
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    Cited by:

    1. Beatriz Barrado & Gregorio Gimenez & Jaime Sanaú, 2021. "The Use of Decomposition Methods to Understand the Economic Growth Gap between Latin America and East Asia," Sustainability, MDPI, vol. 13(12), pages 1-18, June.
    2. Anwesha Aditya & Rajat Acharyya, 2012. "Does What Countries Export Matter? The Asian And Latin American Experience," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 37(3), pages 47-74, September.

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