Latin America: stalled catching up

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• dc.contributor.author Astorga Junquera, Pablo
• dc.contributor.author Herranz Loncán, Alfonso
• dc.date.accessioned 2021-11-29T09:15:55Z
• dc.date.issued 2021
• dc.description.abstract Latin America made considerable progress in living standards between 1870 and 2010 amid rapid modernization and structural change. However, despite these remarkable advances, the income gap between the region and the industrial leaders remains significant. This chapter assesses the long-term performance of Latin America relative to the developed world and discusses the key transformations in Latin America. Excess volatility, poor productivity and high inequality remain essential to explaining why the region has been unable to converge with the industrialized core through advances in human capital, R&D, and infrastructure investment. In order to improve future prospects in standards of living and catching up, the region would need to adopt a development model that delivers sustained and inclusive economic growth. Key elements of this model are a higher rate of investment, a proactive industrial policy, tighter intra-regional integration, and greater redistribution to finance a better quality of education and inclusive social services.
• dc.format.mimetype application/pdf
• dc.identifier.citation Astorga P, Herranz-Loncán A. Latin America: stalled catching up. In: Broadberry S and Fukao K, editors. The Cambridge economic history of the modern world. Cambridge: Cambridge University Press; 2021. p. 251-75. DOI: 10.1017/9781316671603.010
• dc.identifier.doi http://dx.doi.org/10.1017/9781316671603.010
• dc.identifier.isbn 9781108953771
• dc.identifier.uri http://hdl.handle.net/10230/49081
• dc.language.iso eng
• dc.publisher Cambridge University Press - Core
• dc.relation.ispartof Broadberry S and Fukao K, editors. The Cambridge economic history of the modern world. Cambridge: Cambridge University Press; 2021. p. 251-75
• dc.rights This material has been published in The Cambridge economic history of the modern world edited by Broadberry S and Fukao K. This version is free to view and download for personal use only. Not for re-distribution, re-sale or use in derivative works. © 2021.
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.subject.keyword Latin America
• dc.subject.keyword Income convergence
• dc.subject.keyword Human development
• dc.subject.keyword Economic growth
• dc.subject.keyword Industrialization
• dc.subject.keyword Income inequality
• dc.subject.keyword Productivity.
• dc.title Latin America: stalled catching up
• dc.type info:eu-repo/semantics/bookPart
• dc.type.version info:eu-repo/semantics/acceptedVersion