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Journal Article
Financial volatility and electoral uncertainty in Latin America
In past years, Latin American economies have experienced volatility during busy electoral cycles. Will this year?s elections threaten the region?s hard-won financial stability?
Journal Article
Latin America in the rearview mirror
Latin American countries are the only Western countries that are poor and that aren't gaining ground on the United States. This article evaluates why Latin America has not replicated Western economic success. We find that this failure is primarily due to total factor productivity (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 ...
Report
Latin America in the rearview mirror
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 ...