scholarly journals Growth and distribution endogenously determined: a theoretical model and empirical evidence

2019 ◽  
Vol 39 (2) ◽  
pp. 344-361
Author(s):  
HERNÁN BORRERO ◽  
NESTOR GARZA
Keyword(s):  
Theoretical Model ◽  
Latin American ◽  
Empirical Literature ◽  
Growth Theory ◽  
Extended Model ◽  
Aggregate Production ◽  
Long Run ◽  
Aggregate Production Function ◽  
Asset Distribution ◽  
Latin American Countries

ABSTRACT We build upon an already known but scarcely developed feature of growth theory: the importance of asset distribution in an aggregate production function. We elaborate on a simple model of two individuals, and then generalize its deductions to an extended model of n agents, concluding that perfectly distributed productive capital leads to positive and optimum long-run “endogenous” growth. Recent and classical empirical literature on the topic suggests this interpretation. In addition, we find exploratory panel data evidence that supports our theory of growth and distribution in a set of Latin American countries.

Empirical Literature on Economic Growth, 1991–2020: Uncovering Extant Gaps and Avenues for Future Research

2021 ◽  
pp. 097491012110616
Author(s):  
Natalia I. Doré ◽  
Aurora A. C. Teixeira
Keyword(s):  
Economic Growth ◽  
Latin American ◽  
Empirical Studies ◽  
Empirical Literature ◽  
Future Research ◽  
Long Run ◽  
Scientific Attention ◽  
The Impact ◽  
Determinants Of Economic Growth ◽  
Latin American And Caribbean

The factors required to achieve sustainable economic growth in a country are debated for decades, and empirical research in this regard continues to grow. Given the relevance of the topic and the absence of a comprehensive, systematic literature review, we used bibliometric techniques to examine and document several aspects in the empirical literature related to growth, from 1991 to 2020. Five main results are worth highlighting: (a) the share of empirical articles on economic growth show a clear upward trend; (b) among all the groups of countries considered, the emerging economies (EEs) have received the most scientific attention; (c) the economic growth processes of the Latin American and Caribbean EEs have observed negligible scientific attention; (d) the very long-run studies comprise a residual share among the empirical literature on growth; (e) the extant empirical studies on economic growth have addressed mainly the impact of “macroeconomic conditions.” Our findings suggest there is a need to redirect the empirical growth agenda, so as to encourage more scientific attention devoted to the analysis of key determinants of economic growth in the very long run. There should also be increased scrutiny of the processes of economic growth in Latin American and Caribbean EEs

scholarly journals Conservative Governments and Latin America's Human Rights Landscape

AJIL Unbound ◽  
2019 ◽  
Vol 113 ◽  
pp. 375-379 ◽  
Author(s):  
Jorge Contesse
Keyword(s):  
Human Rights ◽  
Latin American ◽  
Case Law ◽  
Right Wing ◽  
Left Wing ◽  
Long Run ◽  
Protection Of Human Rights ◽  
Almost All ◽  
Latin American Countries

In 2009, as the American Convention on Human Rights turned forty, Left-wing governments ruled in almost all Latin American countries. The democratization wave that began in the late 1980s had produced a seemingly hegemonic turn to the Left—the so-called “Pink Tide.” A decade later, the political landscape was radically different. With only a few exceptions, Right-wing governments are in power throughout Latin America. The implications of the conservative wave have been felt in a number of areas—including human rights. This essay explores the ways in which the new conservative governments of Latin American have tried to curb the inter-American human rights system and examines the potential long-term consequences that their efforts may have on the regional system and the protection of human rights. It then suggests possible avenues for sound engagement between states and the system, observing that the Inter-American Court's expansive case law may cause more harm in the long run.

scholarly journals Convergence, trade and industrial policy: Argentina, Brazil and Uruguay in the international economy, 1900–1980

2006 ◽  
Vol 24 (1) ◽  
pp. 37-67 ◽  
Author(s):  
Luis Bértola ◽  
Gabriel Porcile
Keyword(s):  
World War I ◽  
Latin American ◽  
Developed Countries ◽  
The United States ◽  
The Great Depression ◽  
Industrial Sectors ◽  
Long Run ◽  
The Developed Countries ◽  
Pattern Of Specialization ◽  
Latin American Countries

AbstractThis paper discusses the economic performance of three Latin American countries (Argentina, Brazil and Uruguay) from a comparative perspective, using as a benchmark a group of four developed countries (France, Germany, the United Kingdom and the United States). The focus is on the relative performance within the region and between the Latin American countries and the developed countries in the period 1900–1980. The paper argues that Argentina and Uruguay benefited from a privileged position in international markets at the beginning of the 20th century and this allowed them to converge. However, they failed to adjust to the major long-run change in the pattern of world trade brought about by World War I and the Great Depression, which implied a persistent decline of their export markets. On the other hand, Brazil, after having been much less successful until 1930, grew at higher rates thereafter based on rapid structural change and the building up of competitive advantages in new industrial sectors. The more vigorous Brazilian policy for industrialization and export diversification may explain why Brazil succeeded in changing its pattern of specialization, while Argentina and Uruguay were locked in to the old pattern. A typology of convergence regimes is suggested based on the growth experience of these countries.

Does Tariff Liberalization Promote Trade? Latin American Countries in the Long-Run (1900-2000)

2008 ◽  
Vol 8 (4) ◽  
pp. 1850147 ◽  
Author(s):  
Silvia Nenci ◽  
Carlo Pietrobelli
Keyword(s):  
Latin America ◽  
Trade Liberalization ◽  
Latin American ◽  
Trade Relations ◽  
Rule Based System ◽  
Times Series ◽  
Long Run ◽  
Tariff Liberalization ◽  
Trade Growth ◽  
Latin American Countries

This paper estimates the effect of trade liberalization on import performance of selected Latin American countries (which account for about 85 per cent of total Latin America imports). The novelty of this study is that it applies a long-term approach covering the whole XX century using times series and panel data analyses. The empirical exercise shows that the relationship between (lower) tariffs and import growth in Latin America cannot be taken for granted, as it often happens in the literature, and whenever it exists, it is not always quantitatively substantial. In particular, our analysis shows the existence of a long run relationship between tariffs and imports only from the second half of the XX century. It follows that trade liberalization appears effective in fostering Latin America's trade growth only when integrated within a wider process, implying a multilateral and negotiated approach to trade policy. In this sense, multilateral and regional agreements appear to have played a key role not only through tariff reduction but remarkably thanks to the creation of a rule-based system governing global trade relations, through which uncertainty was reduced and the spread of best practices promoted. This result would confirm the thesis of those who endorse the existence of a formalized trading system to guarantee tariff liberalization and foster trade growth.

The Labor Share Squeeze in Latin America: A Dynamic Heterogeneous Approach

2017 ◽  
Vol 18 (2) ◽  
pp. 20170083
Author(s):  
Ryan Joy ◽  
Cesar M. Rodriguez ◽  
Inder J. Ruprah
Keyword(s):  
Latin America ◽  
Latin American ◽  
Financial Integration ◽  
Public Spending ◽  
Institutional Factors ◽  
Labor Share ◽  
Pooled Mean Group ◽  
Long Run ◽  
Latin American Countries

This paper analyzes the long-run relationship between labor share and its determinants for 20 Latin American countries from 1980 to 2014. Using the pooled mean group estimator, we find evidence that technological change, the globalization process, and financial integration, have contributed to the decline of labor share in Latin America. We also find evidence of the importance of institutional factors and public spending for the labor share. Finally, we discuss the role of the informal sector on the dynamics of the decline. Our key findings are robust to various specifications and methodologies.

scholarly journals Perfect Capital Mobility, Taxation, Money Illusion, and Devaluations

1995 ◽  
Vol 34 (4III) ◽  
pp. 1013-1022
Author(s):  
Syed Zahid Ali
Keyword(s):  
Latin American ◽  
Trade Balance ◽  
Capital Mobility ◽  
Developed Countries ◽  
Money Illusion ◽  
Long Run ◽  
Long Time ◽  
The Impact ◽  
Latin American Countries ◽  
Theoretical Results

Are devaluations contractionary? This question has been with us for a long time. The conventional Keynesian economist holds the view that if devaluation is demandexpansionary, then both output and balance-of-payments will improve with devaluation. Experience, however, shows contrary outcomes. For example, Sheehy (1986), who has covered 16 Latin American countries, concluded that devaluation was highly contractionary in these countries. Edwards (1986), on the other hand, has covered 12 less developed countries (LDCs) and found that devaluations are contractionary in the impact period, while in the long-run they all become neutral. Hamarious (1989) has used the data for the periods 1953-73 and 1975-84 and has covered twenty-seven countries and six devaluation episodes to study the effects of devaluations upon prices and the trade balance. He found that in over 80 percent of the cases, devaluation causes a net improvement in the trade balance both in the impact period and in the middle period. The study concluded that the effects of devaluation upon the trade balance last for two to three years. Such results seriously challenge the theoretical results derived by the conventional economist.

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