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Investment, Macroeconomic Stability and Growth: The Latin American Experience

Economic Analysis Review

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Title Investment, Macroeconomic Stability and Growth: The Latin American Experience
Investment, Macroeconomic Stability and Growth: The Latin American Experience
 
Creator Corbo, Vittorio
Rojas, Patricio
 
Subject —
 
Description The purpose of this paper is to explore the role of factor accumulation, economic policies, and economic and political uncertainties on growth performance of Latin American countries in the last three decades. We extend the work of Corbo and Rojas (1992) in two directions suggested by recent work in this area. First, we extend the model by considering term of trade effects and an additional measure of distortion, the black marker premium. Second, we provide further evidence of the channels through which economic policies affect growth by endogenizing the investment rate. The main conclusions are that the terms of trade affect growth directly, and indirectly through its effect in the investment rate: the black market premium is more a measure of macroeconomic instability than of the degree of oppenness; and stability of economic policies can affect growth directly through the law of motion for growth and indirectly through investment rates.
Investment, Macroeconomic Stability and Growth: The Latin American Experience
 
Publisher Universidad Alberto Hurtado - Facultad de Economía y Negocios
 
Contributor —
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Date 2010-03-09
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.rae-ear.org/index.php/rae/article/view/201
 
Source Revista de Análisis Económico - Economic Analysis Review; Vol 8, No 1 (1993); 19-35
Revista de Análisis Económico – Economic Analysis Review; Vol 8, No 1 (1993); 19-35
0718-8870
0716-5927
 
Language eng
 
Relation http://www.rae-ear.org/index.php/rae/article/view/201/461