Latin America in the rearview mirror
By: Harold L. Cole [et al.].
Contributors: Cole, Harold Linh, 1957-
Series: Federal Reserve Bank of Minneapolis, Research Department staff report ;; 351; Staff report (Federal Reserve Bank of Minneapolis. Research Dept. : Online) ;; 351.
Publisher: Federal Reserve Bank of Minneapolis
Published: 2004
Place of publication: [Minneapolis, Minn.]
Language: eng
Format: Electronic resource
Subjects: Industrial productivity -- Latin America.; Latin America -- Economic conditions -- 1982-
Description: "Latin American countries are the only Western countries that are poor and that aren't gaining ground on the United States.This paper evaluates why Latin America has not replicated Western economic success.We find that this failure is primarily due to TFP differences.Latin America's TFP gap is not plausibly accounted for by human capital differences, but rather reflects inefficient production.We argue that competitive barriers are a promising channel for understanding low Latin TFP.We document that Latin America has many more international and domestic competitive barriers than do Western and successful East Asian countries.We also document a number of microeconomic cases in Latin America in which large reductions in competitive barriers increase productivity to Western levels"--Federal Reserve Bank of Minneapolis web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 11/29/2004.
Also available in print.
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Mode of access: World Wide Web.