Growth and Reforms in Latin America: A Survey of Facts and Arguments

40 Pages Posted: 31 Oct 2006  

Jeromin Zettelmeyer

European Bank for Reconstruction and Development; CEPR; Peter G. Peterson Institute for International Economics

Date Written: September 2006

Abstract

This paper presents a number of facts about growth in Latin America, and shows how critical correlates of growth have evolved over time. In comparison with other regions, Latin America has consistently exhibited higher macroeconomic volatility, lower openness, and higher income inequality, though openness and macroeconomic stability have improved since the early 1990s. The paper then discusses three views of why reforms have not led to higher growth in Latin America: that reforms have gone too far; that reforms have not gone far enough; and that reforms have missed the point.

Keywords: Growth, Reforms, Volatility, Latin America

JEL Classification: O11, O15, O17, O54

Suggested Citation

Zettelmeyer, Jeromin, Growth and Reforms in Latin America: A Survey of Facts and Arguments (September 2006). IMF Working Paper, Vol. , pp. 1-40, 2006. Available at SSRN: https://ssrn.com/abstract=941272

Jeromin Zettelmeyer (Contact Author)

European Bank for Reconstruction and Development ( email )

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HOME PAGE: http://www.ebrd.com/pages/research/economics/researchers.shtml#jeromin

CEPR ( email )

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Peter G. Peterson Institute for International Economics ( email )

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