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Convergence Patterns in Latin America

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  • Paola Andrea Barrientos Quiroga

    () (School of Economics and Management, Aarhus University, Denmark)

Abstract

Literature on convergence among Latin American countries is still scarce compared to other regions. Moreover, almost none of the research connects convergence to the economic history of Latin America and the usual finding is one speed of convergence. In this paper I analyze 32 countries and 108 years, more observations than any other study. This long span of data allows me to use economic history to explain, analyze, validate, and understand the results of convergence patterns in the region. I find more than one speed of convergence (clubs) related to the known historical background, country characteristics, and external shocks in the region. I study three important phases, following Thorp (1998): from 1900 to 1930, the exporting phase, from 1931 to 1974, the industrialization phase, and from 1975 to 2007, the globalization phase. During the last two phases, I find strong evidence of convergence among those countries that succeeded in industrializing and/or building good institutions. The reason is that technology dissusion and capital accumulation is easier when these 2 phenomena occur.

Suggested Citation

  • Paola Andrea Barrientos Quiroga, 2010. "Convergence Patterns in Latin America," Economics Working Papers 2010-15, Department of Economics and Business Economics, Aarhus University.
  • Handle: RePEc:aah:aarhec:2010-15
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    File URL: ftp://ftp.econ.au.dk/afn/wp/10/wp10_15.pdf
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    References listed on IDEAS

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    1. ?gel de la Fuente, "undated". "Convergence Across Countries And Regions: Theory And Empirics," UFAE and IAE Working Papers 447.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    2. Andrew T. Young & Matthew J. Higgins & Daniel Levy, 2008. "Sigma Convergence versus Beta Convergence: Evidence from U.S. County-Level Data," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(5), pages 1083-1093, August.
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    Cited by:

    1. Martin Victor & Vazquez Guillermo, 2015. "Club convergence in Latin America," The B.E. Journal of Macroeconomics, De Gruyter, vol. 15(2), pages 791-820, July.

    More about this item

    Keywords

    Latin America; economic history; convergence; growth;

    JEL classification:

    • N0 - Economic History - - General
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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