The evolution of TFP in Latin America: high productivity when distortions were high?

Pedro Ferreira, Samuel de Abreu Pessôa and Fernando Veloso

No 699, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: Due to widespread government intervention and import-substitution industrialization, there has been a general presumption that Latin America has been much less productive than the leading economies in the last decades. In this paper, however, we show that until the late seventies Latin America had high total factor productivity (TFP) levels relative to the US and other regions. It is only after the late seventies that we observe a fast decrease of relative TFP in Latin America. Results are robust to the use of diferent methodologies and data sources.

Date: 2010-01-07
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:699

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