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Industry and Economic Development in Latin America


  • Guisan, M.C.
  • Aguayo, E


We analyse the evolution of Manufacturing Value-Added per inhabitant in 20 Latin American and Caribbean countries during the period 1980-2002, and present a comparison with more industrialized countries. We find that very few Latin American countries have experienced an increase in that variable during the sample period, corresponding the most outstanding increases of the real value of this variable the following countries: Dominican Republic with 70%, Chile with 46%, Costa Rica 28% and Mexico with 22%, but unfortunately many other countries have experienced very small increases or even stagnation or decrease in this variable which has an important impact on economic development. In spite of the decrease experienced during the peeriod 1997-2002, and thanks to the slight recovery of 2003-2004, Argentina follows to be the Latin American country with the highest value of this variable, although very far below the values of Spain, the USA and other industrialized countries. Our main conclusions support the development of socio-economic policies which give a high priority to the increase of Manufacturing in Latin American countries.

Suggested Citation

  • Guisan, M.C. & Aguayo, E, 2005. "Industry and Economic Development in Latin America," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 5(3), pages 133-142.
  • Handle: RePEc:eaa:aeinde:v:5:y:2005:i:3_8

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    References listed on IDEAS

    1. J. Luis Guasch & Pablo T. Spiller, 1995. "Regulation and Private Sector Development in Latin America," Reports _018, World Bank Latin America and the Caribean Region Department.
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    Cited by:

    1. Guisan, M.C. & Aguayo, E., 2007. "Health Expenditure, Poverty and Economic Development in Latin America 2000-2005," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 4(2), pages 5-24.
    2. GUISAN, Maria-Carmen & CANCELO, Maria-Teresa, 2014. "Industry, Productivity And Development In 96 European Regions, 2005-2010," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 14(1).
    3. GUISAN, Maria-Carmen, 2015. "Selected Readings On Econometrics Methodology, 2001-2010: Causality, Measure Of Variables, Dynamic Models And Economic Approaches To Growth And Development," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 15(2), pages 213-220.

    More about this item


    Manufacturing; Economic Development; Latin America;

    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean


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