The Latin American development problem

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/EC 65(81/2009)
cepal.callNumberLC/L.3018-P
cepal.divisionEngEconomic Development Division
cepal.divisionSpaDivisiĆ³n de Desarrollo EconĆ³mico
cepal.docTypeSeries
cepal.idSade35767
cepal.jobNumberS0900134 S
cepal.physicalDescriptiongrƔficos, tablas
cepal.regionalOfficeSantiago
cepal.saleNumber09.II.G.28
cepal.topicEngPRODUCTIVITY
cepal.topicSpaPRODUCTIVIDAD
cepal.workareaEngPRODUCTION, PRODUCTIVITY AND MANAGEMENT
cepal.workareaSpaDESARROLLO PRODUCTIVO Y EMPRESARIAL
dc.contributor.authorRestuccia, Diego
dc.coverage.spatialEngLATIN AMERICA
dc.coverage.spatialSpaAMERICA LATINA
dc.date.accessioned2014-01-02T16:12:02Z
dc.date.available2014-01-02T16:12:02Z
dc.date.issued2009-03
dc.descriptionIncludes bibliography
dc.description.abstractBy 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.
dc.formatTexto
dc.format.extent45 pƔginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9789211216936
dc.identifier.unSymbolLC/L.3018-P
dc.identifier.urihttps://hdl.handle.net/11362/5448
dc.language.isoeng
dc.physicalDescription45 p. : grƔfs., tabls.
dc.publisherCEPAL
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie MacroeconomĆ­a del Desarrollo
dc.relation.isPartOfSeriesNo81
dc.rights.coarDisponible
dc.subject.unbisEngECONOMIC CONDITIONS
dc.subject.unbisEngGROSS DOMESTIC PRODUCT
dc.subject.unbisEngEMPLOYMENT
dc.subject.unbisEngLABOUR PRODUCTIVITY
dc.subject.unbisEngMEASUREMENT
dc.subject.unbisEngECONOMIC INDICATORS
dc.subject.unbisSpaCONDICIONES ECONOMICAS
dc.subject.unbisSpaPRODUCTO INTERNO BRUTO
dc.subject.unbisSpaEMPLEO
dc.subject.unbisSpaPRODUCTIVIDAD DEL TRABAJO
dc.subject.unbisSpaMEDICION
dc.subject.unbisSpaINDICADORES ECONOMICOS
dc.titleThe Latin American development problem
dc.type.coarlibro
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