Economic Growth in Latin America
Author | : Mr.Jose De Gregorio |
Publisher | : International Monetary Fund |
Total Pages | : 57 |
Release | : 1991-07-01 |
ISBN-10 | : 9781451959758 |
ISBN-13 | : 1451959753 |
Rating | : 4/5 (753 Downloads) |
Download or read book Economic Growth in Latin America written by Mr.Jose De Gregorio and published by International Monetary Fund. This book was released on 1991-07-01 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies growth determinants in 12 Latin American countries during the period 1950-85. In a simple growth accounting framework, the share of labor in income is found to be lower in the sample group than in developed countries, while factor productivity growth accounts for a larger proportion of growth in the fastest growing countries in the sample. Using panel data, macroeconomic stability is found to play, in addition to investment (physical and human), a crucial role in growth. To a lesser extent, growth is negatively correlated with government consumption and political instability. The terms of trade appear to have no significant effect on growth.