Latin America and the “High Performing Asian Economiesâ€: Growth and Debt

John Weeks (jw10@soas.ac.uk)
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John Weeks: Department of Development Studies, SOAS University of London, UK

No 70, Working Papers from Department of Economics, SOAS University of London, UK

Abstract: Prior to the Asian financial crisis, it was accepted wisdom to compare the growth of Latin America unfavourably to that of a selection of East and Southeast Asian countries (the so-called High Performing Asian Economies). This paper presents statistics that indicate that the differences in performance may have been less than as commonly presented. A modified Harrod-Domar model is applied to the Latin American countries, and the results suggest that a major determinant of slower growth in Latin America was the debt service burden.

Pages: 46 pages
Date: 1999-09
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