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Development Accounting: Lessons for Latin America

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  • Christian Daude

Abstract

This paper presents development accounting exercises in Latin America using novel databases and methods to investigate the robustness of its results. While total factor productivity initially appears to be the most important driver of output per worker gaps in Latin America and the Caribbean, this “fact” is not robust to alternative functional forms, adjustments for the quality of human capital and endogeneity considerations. The paper also highlights the heterogeneity among countries in the region and discusses alternative ways to link macroeconomic benchmarking to policies. Ce document de recherche présente des expériences analysant les facteurs à l’origine des écarts dans le niveau du PIB dont souffre l’ Amérique latine, grâce à des méthodes et des bases de données nouvelles afin d’évaluer la robustesse des résultats déjà existants. Alors que la productivité globale des facteurs apparaît dans un premier temps comme le principal responsable des écarts de l’output par travailleur en Amérique latine et les Caraïbes, ce « fait » n’est pas robuste face aux formes fonctionnelles alternatives, aux ajustements dans la qualité du capital humain et aux considérations endogènes. Ce document souligne l’hétérogénéité entre les pays de la région et discute des démarches alternatives pour établir des liens entre le benchmarking macroéconomique et les politiques.

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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 313.

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Date of creation: 13 Jun 2012
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Handle: RePEc:oec:devaaa:313-en

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Keywords: economic growth; Latin America; total factor productivity; developing accounting; facteurs de croissance; productivité globale des facteurs; croissance économique; Amérique latine;

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  1. Robert C. Feenstra & Alan Heston & Marcel P. Timmer & Haiyan Deng, 2004. "Estimating Real Production and Expenditures Across Nations: A Proposal for Improving the Penn World Tables," NBER Working Papers 10866, National Bureau of Economic Research, Inc.
  2. Christian Daude & Eduardo Fernández-Arias, 2010. "On the Role of Productivity and Factor Accumulation in Economic Development in Latin America and the Caribbean," OECD Development Centre Working Papers 290, OECD Publishing.
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  12. Timothy J. Kehoe & Kim J. Ruhl, 2007. "Are shocks to the terms of trade shocks to productivity?," Staff Report 391, Federal Reserve Bank of Minneapolis.
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