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Real Incomes and Its Aggregates in Latin American and The Caribbean: A Tale of Convergence?

Listed author(s):
  • Alicia N. Rambaldi


    (School of Economics. The University of Queensland)

Real incomes, consumption, government expenditures and investment for countries in Latin America and the Caribbean (LAC) for the period 1971 to 2012 are studied using a recently released source of data. Although growth in real incomes have not been uniform across all countries, for a large majority both income and consumption have been increasing since the beginning of this century. The trends indicate increasing prosperity which could lead to welfare gains if a sustained effort is made to reduce income inequality. The patterns in real investment and government consumption are more heterogeneous across countries. The majority of the South American economies, Panama, Mexico and most Caribbean economies have either maintain or increase real levels of investment. Government expenditures have been more varied; however, there is some evidence that after the global financial crises (2007-2008) a few economies increased real government expenditures when investment shares decreased. / Resumen - A partir de una base de datos cuyo acceso fue recientemente liberado, se estudian las variables de ingreso real, el consumo, la inversión y gasto del gobierno para los países de América Latina y el Caribe (ALC) en el período 1971-2012. Aunque el crecimiento de los ingresos reales no ha sido uniforme en todos los países, para una gran mayoría tanto los ingresos como el consumo se han incrementado desde el comienzo de este siglo. Las tendencias indican un aumento de la prosperidad que podría conducir a ganancias de bienestar si se realiza un esfuerzo sostenido para reducir la desigualdad de ingresos. Los patrones de inversión real y el consumo público son más heterogéneos. La mayoría de las economías de América del Sur, Panamá, México y la mayoría de las economías del Caribe han mantenido o incrementado los niveles reales de inversión. Los niveles de gasto de gobierno han sido más variados. No obstante hay algunas evidencias de que después de la crisis financiera mundial (2007-2008) algunas economías aumentaron el gasto público real cuando los niveles de inversión disminuyeron.

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Article provided by Universidad Nacional de Córdoba, Facultad de Ciencias Económicas, Instituto de Economía y Finanzas in its journal Revista de Economía y Estadística.

Volume (Year): LIII (2015)
Issue (Month): 1 (January)
Pages: 129-164

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Handle: RePEc:ief:reveye:v:53:y:2015:i:1:p:129-164
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