A Century of Economic Growth in Latin America

Pablo Astorga
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Pablo Astorga: Abbey House, Carfax, Oxford and Universidad Carlos III, C/ Madrid, 126, 28903 Getafe, Madrid Espana

No _075, Oxford University Economic and Social History Series from Economics Group, Nuffield College, University of Oxford

Abstract: This paper makes a contribution to the study of economic growth in developing countries by analysing the six largest Latin American economies over 105 years within a two-equation framework. Confirming previous findings, physical and human capital prove to be key determinants of GDP per capita growth. However, a more controver- sial result is an overall negative conditional correlation between trade openness and GDP per head growth – though openness has a positive link via investment. The evi- dence also shows that macroeconomic instability has been a drag on long-term growth in the region.

Keywords: Economic Growth; Investment; Openness; Latin America (search for similar items in EconPapers)
JEL-codes: F43 N26 O11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-fdg and nep-opm
Date: 2009-01-02
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