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Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s

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  • Raphael Bergoeing

    ()

  • Patrick J. Kehoe
  • Timothy J. Kehoe
  • Raimundo Soto

Abstract

Both Chile and Mexico experienced severe economic crises in the early 1980s, but Chile recovered much faster than did Mexico. Using growth accounting and a calibrated dynamic general equilibrium model, we conclude that the crucial determinant of this difference between the two countries was the faster productivity growth in Chile, rather than higher investment or employment. Our hypothesis is that this difference in productivity was driven by ealier policy reforms in Chile, the most crucial of which were in banking and bankruptcy procedures. We propose a theoretical framework in which government policy affects both the allocation of resources and the composition of firms.

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Bibliographic Info

Paper provided by Centro de Economía Aplicada, Universidad de Chile in its series Documentos de Trabajo with number 125.

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Date of creation: 2002
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Handle: RePEc:edj:ceauch:125

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  1. Raphael Bergoeing & Patrick J. Kehoe & Timothy J. Kehoe & Raimundo Soto, 2001. "A Decade Lost and Found: Mexico and Chile in the 1980s," Documentos de Trabajo 110, Centro de Economía Aplicada, Universidad de Chile.
  2. Timothy Kehoe & Edward Prescott, 2002. "Data Appendix to Great Depressions of the Twentieth Century," Technical Appendices kehoe02, Review of Economic Dynamics.
  3. Timothy J. Kehoe & Edward C. Prescott (), 2007. "Great depressions of the twentieth century," Monograph, Federal Reserve Bank of Minneapolis, number 2007gdott.
  4. Andrew Atkeson & Patrick J. Kehoe, 1995. "Industry evolution and transition: measuring investment in organization," Staff Report 201, Federal Reserve Bank of Minneapolis.
  5. Raphael Bergoeing & Patrick J. Kehoe & Timothy J. Kehoe & Raimundo Soto, 2002. "Data Appendix to A Decade Lost and Found: Mexico and Chile in the 1980s," Technical Appendices bergoeing02, Review of Economic Dynamics.
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Cited by:
  1. Raphael Bergoeing & Facundo Piguillem, 2003. "Innovaciones en productividad y dinámica de plantas," Revista de Analisis Economico – Economic Analysis Review, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines, vol. 18(2), pages 3-32, December.
  2. Raphael Bergoeing & Andr�s Hernando & Andrea Repetto, 2005. "Market Reforms and Efficiency Gains in Chile," Documentos de Trabajo 207, Centro de Economía Aplicada, Universidad de Chile.
  3. Ledezma, Ivan & Bas, Maria, 2010. "Trade Integration and Within-Plant Productivity Evolution in Chile," Economics Papers from University Paris Dauphine 123456789/6910, Paris Dauphine University.
  4. Flávia Mourão Graminho, 2006. "A Neoclassical Analysis of the Brazilian "Lost-Decades"," Working Papers Series 123, Central Bank of Brazil, Research Department.
  5. Rodrigo Garcá-Verdú, 2005. "Factor Shares from Household Survey Data," DEGIT Conference Papers c010_057, DEGIT, Dynamics, Economic Growth, and International Trade.
  6. Sakai, Koji & Uesugi, Iichiro & Watanabe, Tsutomu, 2008. "Firm Age and the Evolution of Borrowing Costs: Evidence from Japanese Small Firms," PIE/CIS Discussion Paper 354, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  7. Almeida, Rita & Fernandes, Ana M., 2011. "Explaining local manufacturing growth in Chile : the advantages of sectoral diversity," Policy Research Working Paper Series 5891, The World Bank.
  8. Konstantinos Angelopoulos & George Economides & Vangelis Vassilatos, 2008. "Do institutions matter for economic fluctuations? Weak property rights in a business cycle model for Mexico," Working Papers 2008_38, Business School - Economics, University of Glasgow.
  9. repec:hal:wpaper:halshs-00588309 is not listed on IDEAS
  10. Muñoz Saavedra, Ercio, 2009. "Reformas Estructurales y Productividad Total de Factores
    [Structural Reforms and Total Factor Productivity]
    ," MPRA Paper 37362, University Library of Munich, Germany.

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