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Output and capital input per capita convergence in Latin America: 1960 - 1995. A preliminary analysis

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  • Víctor Elías

Abstract

This paper studies the convergence in output per capita in 7 Latin American Economies, during the period 1960-1995, breaking it down on its two main determinants: total input and total factor productivity. Total input is in turn broken down in two inputs (labor and capital) and each one of these inputs is separated in its quantity and quality components. The paper presents the convergence of the capital input per capita only. Hence, it presents a partial picture of convergence. However, it gives some useful insights about the economic growth pattern of Latin American economies.

Suggested Citation

  • Víctor Elías, 1999. "Output and capital input per capita convergence in Latin America: 1960 - 1995. A preliminary analysis," Estudios de Economia, University of Chile, Department of Economics, vol. 26(2 Year 19), pages 207-217, December.
  • Handle: RePEc:udc:esteco:v:26:y:1999:i:2:p:207-217
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    References listed on IDEAS

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    1. Persson, Torsten & Tabellini, Guido, 1999. "Political economics and macroeconomic policy," Handbook of Macroeconomics,in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 22, pages 1397-1482 Elsevier.
    2. Kenneth Rogoff & Anne Sibert, 1988. "Elections and Macroeconomic Policy Cycles," Review of Economic Studies, Oxford University Press, vol. 55(1), pages 1-16.
    3. Stein, Ernesto H. & Streb, Jorge M., 2004. "Elections and the timing of devaluations," Journal of International Economics, Elsevier, pages 119-145.
    4. Rogoff, Kenneth, 1990. "Equilibrium Political Budget Cycles," American Economic Review, American Economic Association, vol. 80(1), pages 21-36, March.
    5. Stein, Ernesto H. & Streb, Jorge M., 2004. "Elections and the timing of devaluations," Journal of International Economics, Elsevier, vol. 63(1), pages 119-145, May.
    6. George A. Akerlof & Janet L. Yellen, 1985. "A Near-Rational Model of the Business Cycle, with Wage and Price Inertia," The Quarterly Journal of Economics, Oxford University Press, vol. 100(Supplemen), pages 823-838.
    7. Akerlof, George A, 1991. "Procrastination and Obedience," American Economic Review, American Economic Association, vol. 81(2), pages 1-19, May.
    8. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, vol. 50(1), pages 5-25, January.
    9. Barry Eichengreen & Ricardo Hausmann & Jürgen Von Hagen, 1999. "Reforming Budgetary Institutions in Latin America: The Case for a National Fiscal Council," Open Economies Review, Springer, vol. 10(4), pages 415-442, October.
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    More about this item

    Keywords

    Output; capital input; convergence.;

    JEL classification:

    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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