A decade lost and found
Subtitle: Mexico and Chile in the 1980s
By: Raphael Bergoeing ... [et al.].
Contributors: Bergoeing, Raphael.
Series: Federal Reserve Bank of Minneapolis, Research Department staff report ;; 292; Staff report (Federal Reserve Bank of Minneapolis. Research Dept. : Online) ;; 292.
Publisher: Federal Reserve Bank of Minneapolis
Published: 2001
Place of publication: [Minneapolis, Minn.]
Language: eng
Format: Electronic resource
Subjects: Chile -- Economic conditions -- 1973-1988.; Chile -- Economic policy.; Mexico -- Economic conditions -- 1982-1994.; Mexico -- Economic policy -- 1970-1994.
Description: "Chile and Mexico experienced severe economic crises in the early 1980s.This paper analyzes four possible explanations for why Chile recovered much faster than did Mexico.Comparing data from the two countries allows us to rule out a monetarist explanation, an explanation based on falls in real wages and real exchange rates, and a debt overhang explanation.Using growth accounting, a calibrated growth model, and economic theory, we conclude that the crucial difference between the two countries was the earlier policy reforms in Chile that generated faster productivity growth.The most crucial of these reforms were in banking and bankruptcy procedures"--Federal Reserve Bank of Minneapolis web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/15/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.