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

Author/Editor:

Jeromin Zettelmeyer

Publication Date:

September 1, 2006

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 2006/210

Subject:

Financial crises Income Labor Terms of trade Trade liberalization

English

Publication Date:

September 1, 2006

ISBN/ISSN:

9781451864700/1018-5941

Stock No:

WPIEA2006210

Pages:

38

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