NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Latin American Economic Development: 1950-1980

Eliana A. Cardoso, Albert Fishlow

NBER Working Paper No. 3161
Issued in November 1989
NBER Program(s):   ITI   IFM

The paper stresses the evolutionary and adaptive experience of Latin American growth between 1950 and 1980, and provides a synthetic view by considering the sources of growth within a simple production framework. Regressions use quinquennial panel data for 18 Latin American countries.They provide an estimate of the net return to investment, of the elasticity of output to labor and of the contribution of other variables with influence on efficiency. The regressions show that Latin American growth varied systematically with trade performance. The paper provides information on the effects of inflation upon per capita income growth in the region. There is a negative correlation: an inflation rate of even 20 percent reduces the per capita growth rate by 0.4 percentage point, or almost 1.5 percent of the regional mean of 3 percent growth between 1950 and 1980. This result does not hold, however, once high inflation observations are excluded. Finally we call attention to the persistent problems of income distribution and poverty.

download in pdf format
   (807 K)

email paper

This paper is available as PDF (807 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w3161

Published: Cardoso, Eliana and Albert Fishlow. "Latin American Economic Development: 1950–1980." Journal of Latin American Studies 24 Supplement S1 (1992): 197-218.

Users who downloaded this paper also downloaded these:
Edwards w15190 FORTY YEARS OF LATIN AMERICA'S ECONOMIC DEVELOPMENT: From the Alliance for Progress to the Washington Consensus
Kaufman and Stallings The Political Economy of Latin American Populism
Prados de la Escosura When Did Latin America Fall Behind?
Taylor w9580 Foreign Capital in Latin America in the Nineteenth and Twentieth Centuries
Edwards w15171 Latin America's Decline: A Long Historical View
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us