Catalogue


Economic growth in Latin America and the Caribbean : stylized facts, explanations, and forecasts /
Norman Loayza, Pablo Fajnzylber, and César Calderón.
imprint
Washington, DC : World Bank, 2005.
description
156 p. cm.
ISBN
0821360914
format(s)
Book
Holdings
More Details
added author
imprint
Washington, DC : World Bank, 2005.
isbn
0821360914
catalogue key
5400572
 
Includes bibliographical references.
A Look Inside
Reviews
This item was reviewed in:
Reference & Research Book News, August 2005
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Summaries
Main Description
Several countries in Latin America and the Caribbean are suffering severe economic downturns and the success of market-oriented reforms is being called into question. This report seeks to contribute to the debate by examining the nature of economic growth in the region. The aim is threefold: to describe the basic characteristics of growth; explain differences across countries and to forecast changes over the next decade.
Unpaid Annotation
Economic Growth in Latin America and the Caribbean analyses whether economic reforms have been beneficial to growth in the region. In so doing it recognises that growth is driven by a variety of factors, and contributes to this effort by examining the growth performance of countries in Latin America and the Caribbean.
Main Description
The 1960s and 70s were decades of solid growth rates for Latin America and the Caribbean region as a whole. This changed in the 1980s, when the growth rate of output per capita fell to negative values and its volatility increased notably. However, Latin America's economic growth became positive again in the 1990s, with truly remarkable turnarounds in Argentina, Costa Rica, El Salvador, Nicaragua, and Peru. This recovery was driven in most cases by large increases in the growth of total factor productivity, reflecting the initial benefits from the process of economic reforms initiated in the 1990s.Economic Growth in Latin America and the Caribbean analyzes whether economic reforms have been beneficial to growth in the region. In doing so, it recognizes that growth is driven by a variety of factors-in some cases poor growth is due to insufficient structural reforms (e.g., low trade openness), in others to inappropriate stabilization policies (e.g., exchange rate overvaluation), and still in others to negative international conditions (e.g., growth slowdown in industrial countries). It is obvious but still correct to say that identifying the problem is the first step towards the solution. This book contributes to this effort by examining the growth performance of countries in Latin America and the Caribbean, explaining the underlying sources of their economic growth, and designing a strategy for further growth.
Long Description
The 1960s and 70s were decades of solid growth rates for Latin America and the Caribbean region as a whole. This changed in the 1980s, when the growth rate of output per capita fell to negative values and its volatility increased notably. However, Latin America's economic growth became positive again in the 1990s, with truly remarkable turnarounds in Argentina, Costa Rica, El Salvador, Nicaragua, and Peru. This recovery was driven in most cases by large increases in the growth of total factor productivity, reflecting the initial benefits from the process of economic reforms initiated in the 1990s. Economic Growth in Latin America and the Caribbean analyzes whether economic reforms have been beneficial to growth in the region. In doing so, it recognizes that growth is driven by a variety of factors – in some cases poor growth is due to insufficient structural reforms (e.g., low trade openness), in others to inappropriate stabilization policies (e.g., exchange rate overvaluation), and still in others to negative international conditions (e.g., growth slowdown in industrial countries). It is obvious but still correct to say that identifying the problem is the first step towards the solution. This book contributes to this effort by examining the growth performance of countries in Latin America and the Caribbean, explaining the underlying sources of their economic growth, and designing a strategy for further growth.
Table of Contents
Stylized factsp. 7
Determinants of growthp. 37
Growth in the futurep. 77
Conclusionsp. 91
Table of Contents provided by Blackwell. All Rights Reserved.

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