The Latin American development problem
Includes bibliography
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2014
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oai-11362-54482020-03-06T16:50:27Z The Latin American development problem Restuccia, Diego CONDICIONES ECONOMICAS PRODUCTO INTERNO BRUTO EMPLEO PRODUCTIVIDAD DEL TRABAJO MEDICION INDICADORES ECONOMICOS ECONOMIC CONDITIONS GROSS DOMESTIC PRODUCT EMPLOYMENT LABOUR PRODUCTIVITY MEASUREMENT ECONOMIC INDICATORS Includes bibliography By international standards, gross domestic product (GDP); per capita in Latin America is low - around one fifth of that of the United States. Moreover, in the last five decades, Latin America has failed to catch-up in wealth to the level of the United States while other countries at similar or even lower stages of development have been successful. The failure to attain higher levels of relative income represents what I call the development problem of Latin America. Using a variety of data, I find that the bulk of the difference in GDP per capita between Latin America and the United States is explained by low GDP per worker and, in particular, low total factor productivity (TFP); in Latin America. I calculate that to explain the difference in GDP per worker, TFP in Latin America must be around 60% of the level in the United States. I consider a model with heterogeneous production units where institutions and policy distortions lead to a 60% productivity ratio between Latin America and the United States. Removing the barriers to productivity can increase long-run relative GDP per worker in Latin America by a factor of 4. This increase is equivalent to 70-years worth of U.S. post WW-II development. 2014-01-02T16:12:02Z 2014-01-02T16:12:02Z 2009-03 Texto Documento Completo 9789211216936 http://hdl.handle.net/11362/5448 LC/L.3018-P en Serie Macroeconomía del Desarrollo 81 application/pdf AMERICA LATINA LATIN AMERICA CEPAL |
| institution |
Cepal |
| collection |
Cepal |
| language |
English |
| topic |
CONDICIONES ECONOMICAS PRODUCTO INTERNO BRUTO EMPLEO PRODUCTIVIDAD DEL TRABAJO MEDICION INDICADORES ECONOMICOS ECONOMIC CONDITIONS GROSS DOMESTIC PRODUCT EMPLOYMENT LABOUR PRODUCTIVITY MEASUREMENT ECONOMIC INDICATORS |
| spellingShingle |
CONDICIONES ECONOMICAS PRODUCTO INTERNO BRUTO EMPLEO PRODUCTIVIDAD DEL TRABAJO MEDICION INDICADORES ECONOMICOS ECONOMIC CONDITIONS GROSS DOMESTIC PRODUCT EMPLOYMENT LABOUR PRODUCTIVITY MEASUREMENT ECONOMIC INDICATORS Restuccia, Diego The Latin American development problem |
| description |
Includes bibliography |
| format |
Texto |
| author |
Restuccia, Diego |
| author_facet |
Restuccia, Diego |
| author_sort |
Restuccia, Diego |
| title |
The Latin American development problem |
| title_short |
The Latin American development problem |
| title_full |
The Latin American development problem |
| title_fullStr |
The Latin American development problem |
| title_full_unstemmed |
The Latin American development problem |
| title_sort |
latin american development problem |
| publisher |
CEPAL |
| publishDate |
2014 |
| url |
http://hdl.handle.net/11362/5448 |
| work_keys_str_mv |
AT restucciadiego thelatinamericandevelopmentproblem AT restucciadiego latinamericandevelopmentproblem |
| _version_ |
1718439023901409280 |