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A Century of Economic Growth in Latin America

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  • Pablo Astorga

Abstract

This paper makes a contribution to the study of economic growth in developing countries by analysing the six largest Latin American Economies over 105 years within a two-equation framework. Confirming previous findings, physical and human capital prove to be key determinants of GDP per capita growth. However, a more controversial result is an overall negative conditional correlation between trade openness and GDP per head growth - though openness has a positive link via investment. The evidence also shows that macroeconomic instability has been a drag on long-term growth in the region.

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  • Pablo Astorga, 2009. "A Century of Economic Growth in Latin America," Oxford Economic and Social History Working Papers _075, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:esohwp:_075
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    More about this item

    Keywords

    Economic Growth; Investment; Openness; Latin America;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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