A century of economic growth in Latin America

Astorga, Pablo

doi:10.1016/j.jdeveco.2009.01.008

Cited by 61 publications

(44 citation statements)

References 28 publications

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“…Falkinger and Grossman qualitatively suggest that some of the Latin American mineral producers may be modelled as relatively open economies that were unprepared for the late 19th century ‘second’ industrial revolution due to a lack of skilled labour. A recent paper by Astorga (2010) empirically confirms a negative correlation between trade openness and economic growth in resource‐rich Latin America from 1900 to 2004. Does this result extend to mineral producers worldwide?…”

Section: Political Economy and Trade Policy In Mineral‐abundant Stmentioning

confidence: 92%

International Trade in Mining Products

Davis

Cordano

2011

Journal of Economic Surveys

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The increase in mineral price volatility since 1970 and worries about the impact of rapidly growing mineral exports on the economic growth of developing countries have created recent interest in mineral trade flows and policies. This paper provides a review of current thinking on the economics of international trade in mining products. Despite mining products' importance in early formulations of trade theory, there have been relatively few studies that have specifically examined mining product trade flows. The limited evidence that exists supports the idea that factor endowment differences explain much mining product trade. There is some apparent South-South and intra-industry trade in mining products, but we find no need to resort to the 'new trade theory' to explain this. Given worries of substandard growth and development in miningbased economies, trade policies have been used to try to accelerate the movement towards resource-based manufacturing. In the light of recent evidence that mining product exporters have not suffered in the long-run from mining activity, these policies are likely to have been unwarranted. Nevertheless, there is some evidence that the more closed mining economies have had faster growth than the open mining economies, reflecting correction of a political economy trap that causes open mining economies to under-invest in education.

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Section: Political Economy and Trade Policy In Mineral‐abundant Stmentioning

confidence: 92%

International Trade in Mining Products

Davis

Cordano

2011

Journal of Economic Surveys

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“…En primer lugar están los que enfatizan el rol de los factores acumulables (el capital físico y el capital humano) en el crecimiento. Entre estos se encuentra Astorga (2010), quien realiza un estudio de largo plazo de crecimiento en la región. Por el contrario, en el segundo grupo de trabajos están los que señalan que la productividad total de los factores (PTF) es la variable clave para explicar el crecimiento como Manuelli (2005) y Chumacero y Fuentes (2006), entre otros.…”

Section: Revisión De La Literaturaunclassified

Inestabilidad, crecimiento y desempeño económico: evidencia de 17 países de América Latina, 1980-2014

2016

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Artículo de investigación desarrollado en el marco del proyecto "Factores internos y externos del crecimiento en Latinoamérica", con vigencia durante el periodo 2013-2016, financiado por la Secretaría de Ciencia y Tecnología de la Universidad Nacional del Sur. RESUMENEl trabajo estudia el efecto de la inestabilidad económica sobre el crecimiento en 17 países de Latinoamérica en el período 1980-2014 para tres diferentes grupos de crecimiento económico: bajo, medio y alto. La hipótesis es que una economía más inestable, es decir, con mayor inflación y volatilidad del producto perjudica a la inversión y, por tanto, al crecimiento. Para contrastar esta hipótesis se estima un modelo de efectos aleatorios usando un panel de 17 países de América Latina de un período de 35 años, en el cual se clasifican los países de acuerdo con el método de clúster de k-medianas. Los resultados indican que la inestabilidad afecta negativamente el desempeño económico de la región, en particular en los países de menor crecimiento. Por tanto, en estos casos se recomienda la aplicación de políticas anticíclicas y anti-inflacionarias. This paper studies the effect of economic stability on the growth of 17 Latin American countries between 1980-2014 for three different economic growth groups; low, middle and high. The hypothesis is that a more unstable economy, meaning, a larger inflation and product volatility, negatively affects investments, which affects growth. In order to contrast this hypothesis, a random effect model is estimated using a panel of 17 Latin American countries in a 35-year period, in which countries are classified according to the k-median cluster method. Results indicate that instability affects negatively the economic performance of the region, particularly countries with a smaller growth. Because of this, the recommendation for such cases is the application of anti-cyclic and anti-inflationary policies. PALABRAS CLAVE

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“…These estimates imply, the authors claim, that if Indonesia had experienced smaller terms of trade volatility than Canada, Indonesia would have grown faster than Canada, by about 0.3 percentage points reducing the gap in growth between the two countries by about one-third. Astorga (2010) investigates economic growth in 6 Latin American countries in the last 105 years. He finds that trade openness in negatively correlated with growth in income per capita with the evidence pointing at the action of forces related to changes in export diversification.…”

Section: Previous Researchmentioning

confidence: 99%

Terms of Trade Instability and Output Growth in Bolivia

Toledo¹

2014

jda

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This study examines the empirical hypothesis that there is a negative relationship between terms of trade instability and output growth. The instability in the terms of trade is measured by the price variance of three export commodities for Bolivia. Results confirm the hypothesis that terms of trade instability and output growth have an inverse relationship. Since the terms of trade affect the value of tradable components of output, fluctuations in the terms of trade caused by exports price instability are likely to lead to fluctuations in output. JEL Classifications: O10; O40

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A century of economic growth in Latin America

Cited by 61 publications

References 28 publications

International Trade in Mining Products

International Trade in Mining Products

Inestabilidad, crecimiento y desempeño económico: evidencia de 17 países de América Latina, 1980-2014

Terms of Trade Instability and Output Growth in Bolivia

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