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Development Accounting: Lessons for Latin America

  • Christian Daude

    (OECD)

This paper presents development accounting exercises in Latin America using novel databases and methods to investigate the robustness of its results. While total factor productivity initially appears to be the most important driver of output per worker gaps in Latin America and the Caribbean, this “fact” is not robust to alternative functional forms, adjustments for the quality of human capital and endogeneity considerations. The paper also highlights the heterogeneity among countries in the region and discusses alternative ways to link macroeconomic benchmarking to policies. Ce document de recherche présente des expériences analysant les facteurs à l’origine des écarts dans le niveau du PIB dont souffre l’ Amérique latine, grâce à des méthodes et des bases de données nouvelles afin d’évaluer la robustesse des résultats déjà existants. Alors que la productivité globale des facteurs apparaît dans un premier temps comme le principal responsable des écarts de l’output par travailleur en Amérique latine et les Caraïbes, ce « fait » n’est pas robuste face aux formes fonctionnelles alternatives, aux ajustements dans la qualité du capital humain et aux considérations endogènes. Ce document souligne l’hétérogénéité entre les pays de la région et discute des démarches alternatives pour établir des liens entre le benchmarking macroéconomique et les politiques.

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File URL: http://dx.doi.org/10.1787/5k97f6ws6llp-en
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Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 313.

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Date of creation: 13 Jun 2012
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Handle: RePEc:oec:devaaa:313-en
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  11. Córdoba, Juan Carlos & Ripoll, Marla, 2008. "Endogenous TFP and cross-country income differences," Journal of Monetary Economics, Elsevier, vol. 55(6), pages 1158-1170, September.
  12. Christian Daude & Eduardo Fernández-Arias, 2010. "On the Role of Productivity and Factor Accumulation in Economic Development in Latin America and the Caribbean," OECD Development Centre Working Papers 290, OECD Publishing.
  13. Ben S. Bernanke & Kenneth Rogoff, 2002. "Editorial in "NBER Macroeconomics Annual 2001, Volume 16"," NBER Chapters, in: NBER Macroeconomics Annual 2001, Volume 16, pages 1-6 National Bureau of Economic Research, Inc.
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