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A century of economic growth in Latin America

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  • Astorga, Pablo

Abstract

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

Suggested Citation

  • Astorga, Pablo, 2010. "A century of economic growth in Latin America," Journal of Development Economics, Elsevier, vol. 92(2), pages 232-243, July.
  • Handle: RePEc:eee:deveco:v:92:y:2010:i:2:p:232-243
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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. Edward Barbier & John Bugas, 2014. "Structural change, marginal land and economic development in Latin America and the Caribbean," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 23(1), pages 1-29, December.
    3. Ariel Dinar & Kurt Schwabe (ed.), 2015. "Handbook of Water Economics," Books, Edward Elgar Publishing, number 15535.
    4. Teles, Vladimir Kuhl & Cardoso, Eliana A., 2010. "A brief history of Brazil's growth," Textos para discussão 241, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    5. 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.
    6. Williamson, Jeffrey G, 2011. "Industrial Catching Up in the Poor Periphery 1870-1975," CEPR Discussion Papers 8335, C.E.P.R. Discussion Papers.
    7. Brito, Márcio Holland de, 2010. "Inserção comercial do Brasil na américa do sul: um estudo sobre os efeitos da China na região," Textos para discussão 248, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    8. Osvaldo Lagares, 2016. "Capital, Economic Growth and Relative Income Differences in Latin America," Discussion Papers 16/03, Department of Economics, University of York.
    9. Jeffrey G. Williamson, 2011. "Industrial Catching Up in the Poor Periphery 1870-1975," NBER Working Papers 16809, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Economic growth Investment Openness Latin America;

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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