Sustaining Latin America's Resurgence: Some Historical Perspectives

Anoop Singh and Martin Cerisola

No 2006/252, IMF Working Papers from International Monetary Fund

Abstract: This paper looks at the historical lessons that might serve to entrech Latin America's newly resurgent growth phase. It briefly reviews the post-World War II experiences in Latin America and Asia, focusing on the conditions that favored capital accumulation and productivity growth in the faster growing economies. Among these, the paper highlights the importance of stable macroeconomic policies, especially fiscal policy.

Keywords: WP; foreign direct investment; country authorities; central bank; inflation targeting; private sector; Macroeconomic Policy; Policy Design and Consistency; Economic Growth; Open Economies; reforming country; per capita income; country risk; fiscal policy volatility; physical capital; Latin American country; exchange rate regime; government intervention; Chile's policy framework; a number of country; competitive price; Exchange rate arrangements; Productivity; Capital accumulation; Asia and Pacific; East Asia; Global (search for similar items in EconPapers)
Pages: 37
Date: 2006-11-01
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Citations: View citations in EconPapers (17)

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