A century of economic growth in Latin America

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Abstract

This paper makes a contribution to the study of economic growth in developing countries by analyzing 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 head 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. © 2009 Elsevier B.V.

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APA

Astorga, P. (2010). A century of economic growth in Latin America. Journal of Development Economics, 92(2), 232–243. https://doi.org/10.1016/j.jdeveco.2009.01.008

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