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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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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=19998
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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. Sebastian Edwards & Eduardo Levy Yeyati, 2003. "Flexible Exchange Rates as Shock Absorbers," NBER Working Papers 9867, National Bureau of Economic Research, Inc.
    2. Jeronimo Zettelmeyer, 2006. "Growth and Reforms in Latin America; A Survey of Facts and Arguments," IMF Working Papers 06/210, International Monetary Fund.
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    8. Gernot Doppelhofer & Ronald I. Miller & Xavier Sala-i-Martin, 2000. "Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach," NBER Working Papers 7750, National Bureau of Economic Research, Inc.
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    11. Augusto de la Torre & Juan Carlos Gozzi & Sergio L. Schmukler, 2008. "Capital Market Development: Whither Latin America?," NBER Chapters, in: Financial Markets Volatility and Performance in Emerging Markets, pages 121-154 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.
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    15. 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.
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    25. Ratna Sahay & Rishi Goyal, 2006. "Volatility and Growth in Latin America; An Episodic Approach," IMF Working Papers 06/287, International Monetary Fund.
    26. 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.
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    30. 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.
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    32. Stanley Fischer, 1993. "The Role of Macroeconomic Factors in Growth," NBER Working Papers 4565, National Bureau of Economic Research, Inc.
    33. Anoop Singh, 2006. "Macroeconomic Volatility; The Policy Lessons from Latin America," IMF Working Papers 06/166, International Monetary Fund.
    34. Juan Carlos Echeverry & Leopoldo Fergusson & Pablo Querubín, 2005. "Budget Inflexibility," DOCUMENTOS CEDE 002070, UNIVERSIDAD DE LOS ANDES-CEDE.
    35. 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.
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