Understanding Latin America and the Caribbean’s Income Gap

Thompson Araujo, Jorge; Vostroknutova, Ekaterina; Wacker, Konstantin M.; Clavijo, Mateo

Understanding Latin America and the Caribbean’s Income Gap

2015

Thompson Araujo, Jorge | Vostroknutova, Ekaterina | Wacker, Konstantin M. | Clavijo, Mateo

Even nearly ten years of solid growth cannot guarantee long-term income convergence. The countries of the Latin America and Caribbean region (LAC), like other emerging economies, have benefited from a decade of remarkable growth and some income per capita convergence towards the United States and other industrialized countries. Yet, despite this recent progress, LAC still faces a significant per capita income gap with the developed world. The studies in this volume contribute to the ongoing debate on the reasons for this persistent income gap and the potential drivers of convergence, and propose some broad avenues for reform.

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AGROVOC Keywords

agriculture bank loans capital comparative analysis consumption costs credit debt deflation development development economics development policies distribution econometrics economic fluctuations economic growth economic structure economics elasticity exports growth rate growth theory human capital incentives income inputs international trade inventories investment liquidity macroeconomics marginal utility markets measurement monopoly natural resources patents perfect competition prices product markets production productivity property rights stock structural change telecommunications trade trade liberalization trends use value value added wages welfare

Bibliographic information

Publisher

World Bank, Washington, DC

Other Subjects

Wealth; Future research; Goods; Aggregate demand; Productivity increases; Growth policy; Growth theories; Value; Expected utility; Competition; Proprietorship; Gdp; Productive assets; Income levels; Average productivity; Political economy; Economic research; Consumer price index; Failures; Macroeconomic conditions; Macroeconomic policy; Benchmark; Central planning; Inventory; Total factor productivity; Economic outcomes; Theory; Outcomes; Closed economy; Economy; Price indexes; Economic theory; Comparative advantages; Central bank; Output per capita; Econometric analysis; Marginal product; Marginal products; Deflators; Economic performance; Development policy; Averaging; Export growth; Competitiveness; Real gdp; Growth policies; Technical assistance; Monopolistic competition; Expected value; Marginal productivity; Returns to scale; Interest; Criteria; Utility; Shares; Comparative advantage; Credit rationing; Middle income countries; Productivity growth; Constant returns to scale; Forecasts; Fiscal policy; Production function; Gdp per capita; Optimization; Lags; Disposable income; Risk aversion; Inefficiency; Economic outlook; Managerial efficiency; Economic surveys; Externalities; Influence; Neoclassical models; Adverse effect; Variables; Macroeconomic stabilization; Per capita income; Book value; Utility function

Language

English

Type

Working Paper; Text; Working Paper

Corporate Author

Thompson Araujo, Jorge

Vostroknutova, Ekaterina

Wacker, Konstantin M.

Clavijo, Mateo

Caselli, Francesco

Eden, Maya

Nguyen, Ha

Schiffbauer, Marc

Sahnoun, Hania

Brown, J. David

Crespi, Gustavo A.

Iacovone, Leonardo

Marcolin, Luca

Jaramillo, Patricio A.

In AGRIS since: 2016-03-15

Format: AGRIS AP

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Understanding Latin America and the Caribbean’s Income Gap

2015

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Bibliographic information