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Economic growth in Latin America: structural breaks or fundamentals

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  • Rómulo A.Chumacero
  • J.Rodrigo Fuentes

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Abstract

Despite having accumulated physical and human capital at significant rates, Latin America´s growth has been generally disappointing. Successful growth episodes have been accompanied by surges in TFP, sound and stable macroeconomic policies, and fewer distortions and government interventions. Structural breaks are often cited as sources of the disappointing and heterogeneous growth performance of countries in Latin America. We find that, once controlled for external shocks and a measure of distortions, the behavior of per capita GDP in a sample of Latin American countries is remarkably stable.

Suggested Citation

  • Rómulo A.Chumacero & J.Rodrigo Fuentes, 2006. "Economic growth in Latin America: structural breaks or fundamentals," Estudios de Economia, University of Chile, Department of Economics, vol. 33(2 Year 20), pages 141-154, December.
  • Handle: RePEc:udc:esteco:v:33:y:2006:i:2:p:141-154
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    References listed on IDEAS

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    3. Andrea Acevedo Flórez & Adriana Morales Botett & Catalina Ramos Garcés, 2009. "Impacto económico y social del proyecto patios productivos implementado por las comunidades vulnerables de los departamentos de bolívar, córdoba y sucre," REVISTA PANORAMA ECONÓMICO 007084, UNIVERSIDAD DE CARTAGENA.
    4. Aiolfi, Marco & Catão, Luis A.V. & Timmermann, Allan, 2011. "Common factors in Latin America's business cycles," Journal of Development Economics, Elsevier, vol. 95(2), pages 212-228, July.
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    9. Miranda, Jorge, 2012. "Tipo de Cambio Real en Chile: Dinámica, Tendencia y Equilibrio
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    11. Fredy Goyeneche González, 2009. "Cartagena De Indias: Globalizada Desde Su Origen, Fragmentada En Su Presente," REVISTA PANORAMA ECONÓMICO 007080, UNIVERSIDAD DE CARTAGENA.
    12. Tomás Fontalvo Herrera, 2009. "Diseño de un sistema de gestión de la calidad modelo para los programas académicos de educación superior," REVISTA PANORAMA ECONÓMICO 007089, UNIVERSIDAD DE CARTAGENA.
    13. Humberto Consuegra De La Ossa, 2009. "Turismo y desarrollo económico: ¿hace el patrimonio la diferencia en el caribe?," REVISTA PANORAMA ECONÓMICO 007087, UNIVERSIDAD DE CARTAGENA.

    More about this item

    Keywords

    Growth; Latin America; structural breaks.;

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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