Latin America in the Twentieth Century: Stagnation, then Collapse
AbstractMost Latin American countries experienced their last peak in output per capita relative to the United Statesâ€™ between 1971 and 1982. Prior to this peak per capita output was rapidly catching up to the developed world. Twenty years after the peak the average countryâ€™s relative per capita output was 68% of its peak level. A growth accounting exercise shows that between 1960 and 1985 the contribution of physical capital to growth, at 74%, was more than twice the worldâ€™s average. There is an investment/productivity puzzle since capital accumulation was among the highest in the world and productivity growth one of the lowest. Import Substitution Industrialization and targeted investment subsidies may be the key to understanding Latin Americaâ€™s lack of development
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Econometric Society in its series Econometric Society 2004 Latin American Meetings with number 326.
Date of creation: 11 Aug 2004
Date of revision:
Contact details of provider:
Phone: 1 212 998 3820
Fax: 1 212 995 4487
Web page: http://www.econometricsociety.org/pastmeetings.asp
More information through EDIRC
Stagnation; Growth; Latin America;
Other versions of this item:
- Pablo Andres Neumeyer & Hugo Hopenhayn, 2004. "Latin America in the Twentieth Century: stagnation, then Collapse," Department of Economics Working Papers 028, Universidad Torcuato Di Tella.
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-10-30 (All new papers)
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.:
- Peter J. Klenow & Mark Bils, 2000. "Does Schooling Cause Growth?," American Economic Review, American Economic Association, vol. 90(5), pages 1160-1183, December.
- Robert E. Hall & Charles I. Jones, 1999.
"Why Do Some Countries Produce So Much More Output per Worker than Others?,"
NBER Working Papers
6564, National Bureau of Economic Research, Inc.
- Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output Per Worker Than Others?," The Quarterly Journal of Economics, MIT Press, vol. 114(1), pages 83-116, February.
- Sebastian Edwards, 1997.
"Openness, Productivity and Growth: What Do We Really Know?,"
NBER Working Papers
5978, National Bureau of Economic Research, Inc.
- Edwards, Sebastian, 1998. "Openness, Productivity and Growth: What Do We Really Know?," Economic Journal, Royal Economic Society, vol. 108(447), pages 383-98, March.
- José De Gregorio & Jong-Wha Lee, 1999. "Economic Growth in Latin America: Sources and Prospects," Documentos de Trabajo 66, Centro de Economía Aplicada, Universidad de Chile.
- Jonathan Eaton & Samuel Kortum, 2002. "Technology, Geography, and Trade," Econometrica, Econometric Society, vol. 70(5), pages 1741-1779, September.
- Busso Matias & Madrigal Lucia & Pagés Carmen, 2013.
"Productivity and resource misallocation in Latin America,"
The B.E. Journal of Macroeconomics,
De Gruyter, vol. 13(1), pages 30, June.
- Matias Busso & Lucia Madrigal & Carmen Pages-Serra, 2012. "Productivity and Resource Misallocation in Latin America," Research Department Publications 4753, Inter-American Development Bank, Research Department.
- Matías Busso & Lucía Madrigal & Carmen Pagés-Serra, 2012. "Productivity and Resource Misallocation in Latin America," IDB Publications 67198, Inter-American Development Bank.
- John W. Dawson & Mark C. Strazicich, 2006. "Time Series Tests of Income Convergence with Two Structural Breaks: An Update and Extension," Working Papers 06-01, Department of Economics, Appalachian State University.
- Cole, Harold L. & Ohanian, Lee E. & Riascos, Alvaro & Schmitz, James Jr, 2005.
"Latin America in the rearview mirror,"
Journal of Monetary Economics,
Elsevier, vol. 52(1), pages 69-107, January.
- Harold L. Cole & Lee E. Ohanian & Alvaro Riascos & James A. Schmitz, Jr., 2004. "Latin America in the Rearview Mirror," NBER Working Papers 11008, National Bureau of Economic Research, Inc.
- Harold L. Cole & Lee E. Ohanian & Alvaro Riascos & James A. Schmitz, Jr., 2004. "Latin America in the rearview mirror," Staff Report 351, Federal Reserve Bank of Minneapolis.
- Veloso, Fernando A. & Ferreira, Pedro Cavalcanti Gomes & Pessoa, Samuel de Abreu, 2004.
"The evolution of international output differences (1960-2000): From factors to productivity,"
Economics Working Papers (Ensaios Economicos da EPGE)
548, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
- Pedro Cavalcanti Ferreira & Samuel de Abreu Pessôa & Fernando A. Veloso, 2005. "The Evolution of International Output Differences (1960-2000): From Factors to Productivity," IBMEC RJ Economics Discussion Papers 2005-11, Economics Research Group, IBMEC Business School - Rio de Janeiro.
- Samuel de Abreu Pessoa & Pedro Cavalcanti Ferreira, 2004. "The Evolution of International Output Differences (1960-2000): from Factors to Productivity," 2004 Meeting Papers 576, Society for Economic Dynamics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).
If references are entirely missing, you can add them using this form.