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Sustaining Latin America's Resurgence; Some Historical Perspectives

  • Anoop Singh
  • Martin D. Cerisola
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    This paper looks at the historical lessons that might serve to entrech Latin America''s newly resurgent growth phase. It briefly reviews the post-World War II experiences in Latin America and Asia, focusing on the conditions that favored capital accumulation and productivity growth in the faster growing economies. Among these, the paper highlights the importance of stable macroeconomic policies, especially fiscal policy.

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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/252.

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    Length: 37
    Date of creation: 01 Nov 2006
    Date of revision:
    Handle: RePEc:imf:imfwpa:06/252
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    1. R. Gaston Gelos, 2009. "Banking Spreads In Latin America," Economic Inquiry, Western Economic Association International, vol. 47(4), pages 796-814, October.
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    3. Eduardo Lora, 2000. "What Makes Reforms Likely?: Timing and Sequencing of Structural Reforms in Latin America," IDB Publications (Working Papers) 6472, Inter-American Development Bank.
    4. Ratna Sahay & Rishi Goyal, 2006. "Volatility and Growth in Latin America; An Episodic Approach," IMF Working Papers 06/287, International Monetary Fund.
    5. de la Torre, Augusto & Gozzi, Juan Carlos & Schmukler, Sergio L., 2007. "Capital market development : whither Latin America ?," Policy Research Working Paper Series 4156, The World Bank.
    6. Susan M. Collins & Barry P. Bosworth, 1996. "Economic Growth in East Asia: Accumulation versus Assimilation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(2), pages 135-204.
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    8. Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
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    10. Bennett Sutton & Genevieve Lindow & Maria Isabel Serra & Gustavo Ramirez & Maria Fernanda Pazmino, 2006. "Regional Convergence in Latin America," IMF Working Papers 06/125, International Monetary Fund.
    11. Stanley Fischer, 1993. "The Role of Macroeconomic Factors in Growth," NBER Working Papers 4565, National Bureau of Economic Research, Inc.
    12. Cole, Harold L. & Ohanian, Lee E. & Riascos, Alvaro & Schmitz, James Jr, 2005. "Latin America in the rearview mirror," Journal of Monetary Economics, Elsevier, vol. 52(1), pages 69-107, January.
    13. Anastasia Guscina & Olivier Jeanne, 2006. "Government Debt in Emerging Market Countries; A New Data Set," IMF Working Papers 06/98, International Monetary Fund.
    14. Young, Alwyn, 1994. "Lessons from the East Asian NICS: A contrarian view," European Economic Review, Elsevier, vol. 38(3-4), pages 964-973, April.
    15. Gernot Doppelhofer & Ronald I. Miller & Xavier Sala-i-Martin, 2000. "Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (Bace) Approach," OECD Economics Department Working Papers 266, OECD Publishing.
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    17. Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," The Quarterly Journal of Economics, MIT Press, vol. 119(1), pages 1-48, February.
    18. Sebastian Edwards, 1994. "Macroeconomic Stabilization in Latin America: Recent Experience and Some Sequencing Issues," NBER Working Papers 4697, National Bureau of Economic Research, Inc.
    19. Sebastian Edwards & Eduardo Levy Yeyati, 2004. "Flexible Exchange Rates as Shock Absorbers," Business School Working Papers exchangerates, Universidad Torcuato Di Tella.
    20. Guillermo A. Calvo & Ernesto Talvi, 2005. "Sudden Stop, Financial Factors and Economic Collpase in Latin America: Learning from Argentina and Chile," NBER Working Papers 11153, National Bureau of Economic Research, Inc.
    21. Calderon, Cesar & Liu, Lin, 2003. "The direction of causality between financial development and economic growth," Journal of Development Economics, Elsevier, vol. 72(1), pages 321-334, October.
    22. Jahangir Aziz & Christoph Duenwald, 2001. "China's Provincial Growth Dynamics," IMF Working Papers 01/3, International Monetary Fund.
    23. repec:cto:journl:v:21:y:2001:i:1:p:77-90 is not listed on IDEAS
    24. repec:rus:hseeco:70719 is not listed on IDEAS
    25. Antonio Fatás & Ilian Mihov, 2003. "The Case For Restricting Fiscal Policy Discretion," The Quarterly Journal of Economics, MIT Press, vol. 118(4), pages 1419-1447, November.
    26. Jeromin Zettelmeyer, 2006. "Growth and Reforms in Latin America; A Survey of Facts and Arguments," IMF Working Papers 06/210, International Monetary Fund.
    27. Reinhart, Carmen & Kaminsky, Graciela & Vegh, Carlos, 2004. "When it rains, it pours: Procyclical capital flows and macroeconomic policies," MPRA Paper 13883, University Library of Munich, Germany.
    28. Juan Carlos Echeverry & Leopoldo Fergusson & Pablo Querubín, 2005. "Budget Inflexibility," DOCUMENTOS CEDE 002070, UNIVERSIDAD DE LOS ANDES-CEDE.
    29. Eliot Kalter & Steven Phillips & Manmohan Singh & Mauricio Villafuerte & Rodolfo Luzio & Marco A Espinosa-Vega, 2004. "Chile; Institutions and Policies Underpinning Stability and Growth," IMF Occasional Papers 231, International Monetary Fund.
    30. Jorge Blázquez-Lidoy & Javier Rodríguez & Javier Santiso, 2006. "Angel or Devil? China's Trade Impact on Latin American Emerging Markets," OECD Development Centre Working Papers 252, OECD Publishing.
    31. Westphal, Larry E, 1990. "Industrial Policy in an Export-Propelled Economy: Lessons from South Korea's Experience," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 41-59, Summer.
    32. Liu Junning, 2001. "The New Trinity: The Political Consequences of WTO, PNTR, and the Internet in China," Cato Journal, Cato Journal, Cato Institute, vol. 21(1), Spring/Su.
    33. Norman Loayza & Pablo Fajnzylber & César Calderón, 2005. "Economic Growth in Latin America and the Caribbean : Stylized Facts, Explanations, and Forecasts," World Bank Publications, The World Bank, number 7315, March.
    34. Anoop Singh, 2006. "Macroeconomic Volatility; The Policy Lessons From Latin America," IMF Working Papers 06/166, International Monetary Fund.
    35. Paolo Mauro & Törbjörn I. Becker, 2006. "Output Drops and the Shocks That Matter," IMF Working Papers 06/172, International Monetary Fund.
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