MIME-Version: 1.0 Content-Type: multipart/related; boundary="----=_NextPart_01C99043.385C4730" This document is a Single File Web Page, also known as a Web Archive file. If you are seeing this message, your browser or editor doesn't support Web Archive files. Please download a browser that supports Web Archive, such as Microsoft Internet Explorer. ------=_NextPart_01C99043.385C4730 Content-Location: file:///C:/6D7A90D4/abstract.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" A CENTURY OF ECONOMIC GROWTH

A Century of Economic Growth
in Latin America* =

Pablo Astorga

Senior E= conomist at Oxford Economics
Abbey House, Carfax, Oxford, OX1 1HB, England<= /p>

and=

Associate Researcher at Instituto Figuerola
Universidad Carlos III, C/ Madrid, 126, = 28903 Getafe, Madrid España

<pastorga1@gmail.com>

98 Sunningwell Road<= /span>, Oxford, OX1 4= SY

 

Abstract

This paper makes a contribution to the study of economic growth in developing co= untries 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 m= ore controversial result is an overall negative conditional correlation between trade openness and GDP per head growth – though openness has a positi= ve link via investment. The evidence also shows that macroeconomic instability= has been a drag on long-term growth in the region.

JEL classifications: F43; N26; O11

JEL keywords: Economic Growth; Investment; Openness; Lat= in America

 


* The paper benefited from comments = by Valpy FitzGerald, Leandro Prados, Antonio Tena, Leonardo Vera and an anonymous referee. The author also thanks participants to a economic history seminar = held at the University Carlos III in Madrid a= nd to the LACEA meeting in Paris for helpful ideas.

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