On the evolution of TFP in Latin America

Pedro Ferreira, Samuel de Abreu Pessôa and Fernando Veloso

No 723, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: Due to several policy distortions, including import-substitution industrialization, widespread government intervention and both domestic and international competitive barriers, 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 we show, however, that until the late seventies Latin American countries had high productivity levels relative to the United States. It is only after the late seventies that we observe a fast decrease of relative TFP in Latin America. We also show that the inclusion of human capital in the production function makes a crucial diference in the TFP calculations for Latin America.

Date: 2011-08-12
New Economics Papers: this item is included in nep-dev, nep-eff and nep-lam
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Citations: View citations in EconPapers (4)

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Related works:
Working Paper: The Evolution of TFP in Latin America (2008)
Working Paper: The evolution of TFP in Latin America (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:723

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