Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/146475
Authors: 
Fernández Arias, Eduardo
Rodríguez-Apolinar, Sergio
Year of Publication: 
2016
Series/Report no.: 
IDB Working Paper Series IDB-WP-692
Abstract: 
This paper combines development accounting exercises with economic theory to assess the importance of total factor productivity and the accumulation of factors of production as engines of growth in Latin America. Using the new, drastically revised Penn World Table (PWT) and Barro-Lee datasets, the paper shows that lower and non-convergent income relative to successful development benchmarks are explained by subpar productivity gains rather than slower factor accumulation. The empirical analysis of the interplay between productivity and accumulation in the process of development suggests that one explanation for this pattern is that investment in Latin America is not as productivity-enhancing as in less distorted economies.
Subjects: 
Economic growth
Total factor productivity
Development
Productive development policies
JEL: 
O11
O47
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by-nc-nd/3.0/igo/legalcode
Document Type: 
Working Paper

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