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A Century of Economic Growth in Latin America

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  • Pablo Astorga

    (Abbey House, Carfax, Oxford and Universidad Carlos III, C/ Madrid, 126, 28903 Getafe, Madrid Espana)

Abstract

This paper makes a contribution to the study of economic growth in developing countries by analysing the six largest Latin American economies over 105 years within a two-equation framework. Confirming previous findings, physical and human capital prove to be key determinants of GDP per capita growth. However, a more controver- sial result is an overall negative conditional correlation between trade openness and GDP per head growth – though openness has a positive link via investment. The evi- dence also shows that macroeconomic instability has been a drag on long-term growth in the region.

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File URL: http://www.nuffield.ox.ac.uk/economics/History/Paper75/75astorga.pdf
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Bibliographic Info

Paper provided by Economics Group, Nuffield College, University of Oxford in its series Oxford University Economic and Social History Series with number _075.

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Length: 31 pages
Date of creation: 02 Jan 2009
Date of revision:
Handle: RePEc:nuf:esohwp:_075

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Web page: http://www.nuff.ox.ac.uk/economics/

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Keywords: Economic Growth; Investment; Openness; Latin America;

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  8. Pablo Astorga, 2007. "Real Exchange Rates in Latin America: what does the 20th Century reveal?," Working Papers in Economic History wp07-03, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
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Cited by:
  1. Jeffrey G. Williamson, 2010. "When, Where, and Why? Early Industrialization in the Poor Periphery 1870-1940," NBER Working Papers 16344, National Bureau of Economic Research, Inc.
  2. Williamson, Jeffrey G, 2011. "Industrial Catching Up in the Poor Periphery 1870-1975," CEPR Discussion Papers 8335, C.E.P.R. Discussion Papers.
  3. Teles, Vladimir Kuhl & Cardoso, Eliana Anastácia, 2010. "A brief history of Brazil's growth," Textos para discussão 241, Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
  4. Gani, Azmat & Clemes, Michael D., 2013. "Modeling the effect of the domestic business environment on services trade," Economic Modelling, Elsevier, vol. 35(C), pages 297-304.

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