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A Century of Economic Growth in Latin America

Pablo Astorga ()

No _075, Oxford Economic and Social History Working Papers from University of Oxford, Department of Economics

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 controversial result is an overall negative conditional correlation between trade openness and GDP per head growth - though openness has a positive link via investment. The evidence 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)
Date: 2009-01-01
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