The Latin American Efficiency Gap
The average Latin American country produces about 1 fifth of the output per worker of the US. What are the sources of these enormous income gaps? This paper reports development-accounting results for Latin America. Development accounting compares differences in income per worker between developing and developed countries to counter-factual differences attributable to observable components of physical and human capital. Such calculations can serve a useful preliminary diagnostic role before engaging in deeper and more detailed explorations of the fundamental determinants of differences in income per worker.
|Date of creation:||Jul 2014|
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|Contact details of provider:|| Web page: http://www.centreformacroeconomics.ac.uk/|
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