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Growth and Reforms in Latin America

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  • Jeromin Zettelmeyer

Abstract

This paper presents a number of facts about growth in Latin America, and shows how critical correlates of growth have evolved over time. In comparison with other regions, Latin America has consistently exhibited higher macroeconomic volatility, lower openness, and higher income inequality, though openness and macroeconomic stability have improved since the early 1990s. The paper then discusses three views of why reforms have not led to higher growth in Latin America: that reforms have gone too far; that reforms have not gone far enough; and that reforms have missed the point.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/210.

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Length: 38
Date of creation: 01 Sep 2006
Date of revision:
Handle: RePEc:imf:imfwpa:06/210

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Keywords: Latin America; Economic growth; Economic reforms; per capita income; trade liberalization; growth diagnostics; terms of trade; income distribution; gdp growth; external shocks; business cycle; real gdp; barriers to entry; growth rates; business cycles; growth accounting; average tariffs; growth rate; terms of trade shocks; output growth; business cycle volatility; output volatility; economic liberalization; domestic savings; gdp per capita; growth analysis; trade shocks; transport costs; political economy; import barriers; gdp growth rate; international trade; global shocks; world growth; private consumption; trade liberalizations; per capita incomes; domestic shocks; external liberalization; balance of payments crises; internal barriers; tradable goods; interest groups; national policies; exchange rate regimes; liberalized trade; trade openness; total factor productivity; barriers to competition; balance of payments; transport cost;

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References

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Citations

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Cited by:
  1. P&aauml;r �sterholm & Jeromin Zettelmeyer, 2008. "The Effect of External Conditions on Growth in Latin America," IMF Staff Papers, Palgrave Macmillan, vol. 55(4), pages 595-623, December.
  2. Dayoub, Mariam & Lasagabaster, Esperanza, 2008. "General trends in competition policy and investment regulation in mandatory defined contribution markets in Latin America," Policy Research Working Paper Series 4720, The World Bank.
  3. Carton, Christine & Ronquillo, Cely, 2008. "Determinantes del crecimiento económico e intermediación bancaria: un análisis empírico para países latinoamericanos
    [Determinants of economic growth and bank intermediation: empirical analysi
    ," MPRA Paper 15514, University Library of Munich, Germany, revised 25 Nov 2008.
  4. Pär Österholm & Lisandro Abrego, 2008. "External Linkages and Economic Growth in Colombia," IMF Working Papers 08/46, International Monetary Fund.
  5. Jean-Pierre Allegret & Alain Sand-Zantman, 2009. "Does a Monetary Union protect again shocks? An assessment of Latin American integration," Post-Print, HAL halshs-00371069, HAL.
  6. Calderón, César & Fuentes, J. Rodrigo, 2012. "Removing the constraints for growth: Some guidelines," Journal of Policy Modeling, Elsevier, Elsevier, vol. 34(6), pages 948-970.
  7. Carton, Christine & Ronquillo, Cely, 2008. "Determinantes del crecimiento en America Latina: Analisis empirico de los sistemas bancarios
    [Economic growth determinants in Latin American region: An empirical analysis based on bank systems role
    ," MPRA Paper 10832, University Library of Munich, Germany.
  8. Allegret, Jean-Pierre & Sand-Zantman, Alain, 2009. "Does a Monetary Union protect against external shocks?: An assessment of Latin American integration," Journal of Policy Modeling, Elsevier, Elsevier, vol. 31(1), pages 102-118.
  9. Anoop Singh & Martin D. Cerisola, 2006. "Sustaining Latin America's Resurgence," IMF Working Papers 06/252, International Monetary Fund.
  10. Klaus-Stefan Enders, 2007. "Egypt," IMF Working Papers 07/57, International Monetary Fund.

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