Productivity Growth in Latin America Over the Long Run

21 Pages Posted: 11 May 2011

See all articles by Pablo Astorga

Pablo Astorga

Oxford Economic Forecasting

Valpy Fitzgerald

University of Oxford - Department of Economics

Ame R. Berges

University of Oxford - Latin American Centre

Date Written: May 1, 2011

Abstract

The low pace of Latin American productivity growth in recent decades, despite extensive economic reforms, has yet to be understood in a longer-run context where factors such as demographic changes, structural shifts, and investment levels can be taken fully into account. The OxLAD database provides comparable sectoral output and workforce series over 1900-2000 for the six leading economies in the region for the first time. Our analysis of this new dataset shows that: intersectoral resource reallocation reduced aggregate productivity growth in all three periods; total factor productivity growth was low throughout the century, and even negative in the closing three decades; and thus factor accumulation investment in fixed capital and skilled laborwas the main source of productivity growth in Latin America during the twentieth century.

Keywords: aggregate productivity and growth, agriculture, manufacturing, total factor productivity, human capital

JEL Classification: O1, O4, N3, N5, N6

Suggested Citation

Astorga, Pablo and Fitzgerald, Valpy and Berges, Ame R., Productivity Growth in Latin America Over the Long Run (May 1, 2011). Review of Income and Wealth, Vol. 57, No. 2, pp. 203-223, 2011. Available at SSRN: https://ssrn.com/abstract=1838056 or http://dx.doi.org/10.1111/j.1475-4991.2011.00447.x

Pablo Astorga (Contact Author)

Oxford Economic Forecasting ( email )

Abbey House, 121 St Aldates
Oxford OX1 1HB
United Kingdom
+44 1865 268928 (Phone)

Valpy Fitzgerald

University of Oxford - Department of Economics ( email )

Manor Road Building
Manor Road
Oxford, OX1 3BJ
United Kingdom

Ame R. Berges

University of Oxford - Latin American Centre ( email )

Oxford
United Kingdom

Register to save articles to
your library

Register

Paper statistics

Downloads
2
Abstract Views
506
PlumX Metrics