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The evolution of TFP in Latin America: high productivity when distortions were high?

  • Ferreira, Pedro Cavalcanti
  • Pessoa, Samuel de Abreu
  • Veloso, Fernando A.

Due to widespread government intervention and import-substitution industrialization, there has been a general presumption that Latin America has been much less productive than the leading economies in the last decades. In this paper, however, we show that until the late seventies Latin America had high total factor productivity (TFP) levels relative to the US and other regions. It is only after the late seventies that we observe a fast decrease of relative TFP in Latin America. Results are robust to the use of diferent methodologies and data sources.

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Paper provided by FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil) in its series Economics Working Papers (Ensaios Economicos da EPGE) with number 699.

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Date of creation: 07 Jan 2010
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Handle: RePEc:fgv:epgewp:699
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  17. Raphael Bergoeing & Patrick J. Kehoe & Timothy J. Kehoe & Raimundo Soto, 2002. "Data Appendix to A Decade Lost and Found: Mexico and Chile in the 1980s," Technical Appendices bergoeing02, Review of Economic Dynamics.
  18. Douglas Gollin, 2002. "Getting Income Shares Right," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 458-474, April.
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