Sources of Growth In Latin America What Is Missing?

• Main Authors: Fernández-Arias, Eduardo, Manuelli, Rodolfo, Blyde, Juan S
• Format: eBook Book
• Language: English
• Published: Washington Inter-American Development Bank 2005
• Edition: 1
• Subjects: 1982; Argentinian depression; Case studies; Economic conditions; Economic Development; economic growth; economic performance; Economic Policy; exchange rate; growth; human capital; investment; labor; Latin America; Lost Decade; per capita income; policy shocks; prices; productivity; productivity shocks; South America; tariffs; TFP; total factor productivity; South America; Central America; Argentina; Uruguay; Brazil; Chile; Paraguay; The Caribbean; Peru
• ISBN: 9781597820165; 1597820164
• DOI: 10.18235/0012323

The country studies and their background papers included in this book were prepared for the Latin America and the Caribbean section of the "Global Research Project: Explaining Growth" of the Global Development Network (GDN), a research effort conducted in association with the Latin American and Caribbean Economic Association (LACEA). Latin American countries are falling behind. The growth record of Latin America in the recent past has been poor. For decades the average income per capita in Latin America has fallen relative to those of other countries, raising concerns about the capacity of the region to emulate more successful developing countries and lift its living standards closer to those of the developed world. What is failing? Two overview chapters, six country studies and four background thematic studies have been assembled in this book to present a comprehensive answer to this question. Latin American countries are falling behind. For decades the average income per capita in Latin America has been declining relative to those of other countries, generating concerns about the region's capacity to emulate more successful developing countries and to raise its living standards closer to those of the developed world. Clearly, something is failing. But what? Two overview chapters, six country studies, and four background thematic studies have been assembled in this book to address this question. The diverse perspectives presented in these chapters provide a comprehensive, richly nuanced overview of the growth process in Latin America, distinguishing this volume from many other publications that have taken on this topic. The process by which countries grow is a complex phenomenon. The material presented in this volume is intended to contribute to a better understanding of the growth process in Latin America and, more importantly, to the transformations that are urgently needed to ensure the region's long-term economic success.