The Latin American economy during the first decades of the 21st century

Luis Bertola () and José Antonio Ocampo ()
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Luis Bertola: Programa de Historia Económica y Social, Facultad de Ciencias Sociales, Universidad de la República
José Antonio Ocampo: Columbia University

Documentos de trabajo from Programa de Historia Económica, FCS, Udelar

Abstract: This paper looks at Latin America’s performance during the long economic cycle between 1998 and 2014 and its aftermath. The persistence of Latin America's economic vulnerability to external shocks is confirmed, as well as the difficulties in maintaining sustained growth rates associated with processes of structural change. Thus, the gap with the leading countries remains, and Latin America has not been able to emulate the successful experiences of other emerging countries. It is also confirmed that, despite the important achievements in terms of social development during the recent growth cycle, the high structural inequalities have not been broken. The expansive phase, driven by the super cycle of commodities prices, left Latin America once again facing a new phase of crisis and/or stagnation, in which previous achievements were under threat even prior to the COVID - 19 crisis, with all its negative consequences.

Keywords: Economic cycles; Estructural change; Human development; Poverty; Inequality (search for similar items in EconPapers)
JEL-codes: F43 I30 L52 N16 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2022-03
New Economics Papers: this item is included in nep-ban and nep-lam
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Persistent link: https://EconPapers.repec.org/RePEc:ude:doctra:68

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