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Growth and Equity: In Search of the “Empty Box

In: Economic Growth with Equity

Author

Listed:
  • José Luis Machinea
  • Osvaldo L. Kacef

Abstract

Nearly a decade and a half ago, the renowned ECLAC economist Fernando Fajnzylber had a simple but profound idea. He constructed a double-entry table for use in categorizing the countries of Latin America according to their performance in terms of income concentration and growth rates (Fajnzylber, 1992). When it was completed, only one of the four boxes in that table remained empty, and that was the one that combined high growth with low levels of inequality. Hence the idea of the “empty box” as a metaphor for the region’s shortcomings in this respect, which continue to pose a challenge for analysts and policymakers.

Suggested Citation

  • José Luis Machinea & Osvaldo L. Kacef, 2007. "Growth and Equity: In Search of the “Empty Box," Palgrave Macmillan Books, in: Ricardo Ffrench-Davis & José Luis Machinea (ed.), Economic Growth with Equity, chapter 1, pages 1-23, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-80091-5_1
    DOI: 10.1057/9780230800915_1
    as

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