Growth and Equity: In Search of the “Empty Box

José Luis Machinea and Osvaldo L. Kacef

Chapter 1 in Economic Growth with Equity, 2007, pp 1-23 from Palgrave Macmillan

Abstract: Abstract Nearly a decade and a half ago, the renowned ECLAC economist Fernando Fajnzylber had a simple but profound idea. He constructed a double-entry table for use in categorizing the countries of Latin America according to their performance in terms of income concentration and growth rates (Fajnzylber, 1992). When it was completed, only one of the four boxes in that table remained empty, and that was the one that combined high growth with low levels of inequality. Hence the idea of the “empty box” as a metaphor for the region’s shortcomings in this respect, which continue to pose a challenge for analysts and policymakers.

Keywords: Real Exchange Rate; Latin American Country; External Shock; Human Capital Formation; Washington Consensus (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-80091-5_1

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DOI: 10.1057/9780230800915_1

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