Economic Growth in Latin America and the Caribbean

Assessing The Impact Of Infrastructure Quality On Firm Productivity In Africa : Cross-Country Comparisons Based On Investment Climate Surveys From 1999 To 2005

“…Since the seminal paper of Aschauer (1989) found that infrastructure capital has a large impact on aggregate TFP, this finding has been replicated by a number of earlier studies: Munnell (1990aMunnell ( , 1990bMunnell ( , 1992 for the United States, Mitra et al (2002) for that of India, and Easterly and Rebelo (1993) for cross-sectional country data. Loayza, Fajnzylber, and Calderón (2002) find that a telecommunications indicator is robustly related to growth in a large panel data set that includes both industrial and developing countries.…”

“…Röller and Waverman (2001) explicitly model and estimate the impact of telecommunications under simultaneity. In a cross-country panel estimation, Calderón andServen (2003, 2005) employ generalized method of moments (GMM) panel estimation methods to control for the possibility of endogeneity, reporting significant improvements in results. Dessus and Herrera (1999) allow for simultaneity in a panel data set for 28 countries.…”

Sources of Real Exchange Rate Volatility and International Financial Integration: A Dynamic Generalised Method of Moments Panel Approach

“…This variable reflects the ‘Balassa–Samuelson effect’; These data have also been used by Loayza et al . (); Volatility of public spending, calculated as the standard deviation of changes in public consumption; Volatility of money supply, that is, the standard deviation of the growth rate of the monetary base. Volatility of terms of trade (TT6,) measured by the standard deviation of changes in the terms of trade. Economic openness is defined as follows: Trade openness, averaged over 5 years; this variable is being approximated by the share of imports and exports in total household expenditure; International financial integration again averaged over 5 years (from the database of Lane and Milesi‐Ferretti, ). Three indicators are considered: the sum of stocks of foreign direct investment (FDI) and portfolio investments relative to GDP (IFI1), total liabilities and assets relative to GDP (IFI2) and the net foreign assets (NFA) position, that is, the difference between total assets and liabilities (in absolute value), which is another indicator of international financial integration.…”

Análisis de eficiencia técnica en el sector manufacturero chileno: una aproximación con fronteras estocásticas de producción

“…Igual que para el estudio de la productividad en Chile, el enfoque es el de la PTF y el método es el paramétrico del residuo de Solow (Benavente, 2009). También es importante destacar que, para esta región, el estudio de la PTF ocupa actualmente un lugar importante en la investigación económica, ya que, según diversos autores, es la principal causa del bajo crecimiento económico de las últimas décadas (Bosworth y Collins, 2003), especialmente en la década de los ochenta, tal como lo indican Loayza, Fajnzylber y Calderón (2004). Otra causa del importante rol que juega la evolución de la PTF dentro de la investigación es su correlación con otras variables de interés económico en América Latina.…”