This paper revisits the historical roots of Latin America’s disappointing growth using a novel macro and trade-based growth decomposition and a simple model of industrialization in a commodities-exporting country with a large informal sector. The approach suggests the need to better qualify two opposite narratives: that the post-1982 (“neoliberal”) reforms have failed, and it is time to look back to the import substitution industrialization era for...
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INFORMATION
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2022/11/08
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Document de travail de recherche sur les politiques
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WPS10227
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1
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2022/11/08
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Disclosed
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Latin America’s Growth: Looking through the Demand Glass
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