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

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Author Info
Raphael Bergoeing
Patrick J. Kehoe
Timothy J. Kehoe
Raimundo Soto

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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 earlier 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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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8892.

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Date of creation: Apr 2002
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Handle: RePEc:nbr:nberwo:8892

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Find related papers by JEL classification:
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
N6 - Economic History - - Manufacturing and Construction

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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. Timothy J. Kehoe & Edward C. Prescott, 2002. "Great Depressions of the Twentieth Century," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(1), pages 1-18, January. [Downloadable!] (restricted)
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  2. Andrew Atkeson & Patrick J. Kehoe, 1995. "Industry evolution and transition: measuring investment in organization," Staff Report 201, Federal Reserve Bank of Minneapolis. [Downloadable!]
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  1. 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, Department of Economics, University of Glasgow. [Downloadable!]
    Other versions:
  2. Rodrigo Garcá-Verdú, 2005. "Factor Shares from Household Survey Data," DEGIT Conference Papers c010_057, DEGIT, Dynamics, Economic Growth, and International Trade. [Downloadable!]
  3. Raphael Bergoeing & Facundo Piguillem, 2003. "Innovaciones en productividad y dinámica de plantas," Revista de Analisis Economico – Economic Analysis Review, Ilades-Georgetown University, Economics Department, vol. 18(2), pages 3-32, December. [Downloadable!]
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This page was last updated on 2009-11-25.

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