The Latin American Efficiency Gap

Francesco Caselli

No 1421, Discussion Papers from Centre for Macroeconomics (CFM)

Abstract: The average Latin American country produces about 1 fifth of the output per worker of the US. What are the sources of these enormous income gaps? This paper reports development-accounting results for Latin America. Development accounting compares differences in income per worker between developing and developed countries to counter-factual differences attributable to observable components of physical and human capital. Such calculations can serve a useful preliminary diagnostic role before engaging in deeper and more detailed explorations of the fundamental determinants of differences in income per worker.

Pages: 27 pages
Date: 2014-07
New Economics Papers: this item is included in nep-lam
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http://www.centreformacroeconomics.ac.uk/Discussio ... MDP2014-21-Paper.pdf First version, 2014 (application/pdf)

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