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Published in:
2015 | OriginalPaper | Chapter
Productivity and Growth: Stylized Facts and Kaldor’s Laws in Latin America
Author : Jaime Ros
Published in: Development Macroeconomics in Latin America and Mexico
Publisher: Palgrave Macmillan US
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Output and productivity growth in Latin America, as we have seen in chapter I, have been slow and disappointing during the last three decades, especially when considering the great expectations created by the change in its development policies. At the same time, there is a great variety of performances within the region. Most economies have grown less than the world average, and a majority among them less than in the 1950–1980 period, but about seven (out of 18) countries have recorded a per capita GDP growth rate greater than the world average and in six of them greater than in the three decades that preceded the debt crisis of the 1980s. This chapter examines the causes of the economic growth differences in Latin America with special emphasis on the differential productivity performance.