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Beyond Commodities

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dc.contributor.author Vostroknutova, Ekaterina
dc.contributor.author Thompson Araujo, Jorge
dc.contributor.author Clavijo, Mateo
dc.contributor.author Brueckner, Markus
dc.contributor.author Wacker, Konstantin M.
dc.date.accessioned 2015-04-28T17:04:14Z
dc.date.accessioned 2017-12-16T00:04:53Z
dc.date.available 2015-04-28T17:04:14Z
dc.date.available 2017-12-16T00:04:53Z
dc.date.issued 2014-12-01
dc.identifier.uri http://hdl.handle.net/10986/21807
dc.description.abstract The Latin America and Caribbean (LAC) region has seen a decade of remarkable growth and income convergence. Growth has been a key driver for reducing poverty and boosting shared prosperity. It has been debated how much of this decade of growth has been driven by policy reforms and how much was due to the favorable external conditions. While external factors were supportive and relevant, the effect of domestic policies was just as relevant for explaining LAC's recent growth performance. The emphasis of domestic policy has shifted from stabilization policies to structural policies. In addition, a benchmarking exercise reveals which policy gaps will lead to the highest potential growth-payoffs for each country and helps identify potential trade-offs. The authors analyze growth in LAC using descriptive statistics and growth econometrics. The authors use these results for explaining the pattern of growth in LAC over the last decade, for looking ahead, and to identify potential policy gaps. en
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject LIQUIDITY
dc.subject GROWTH EPISODE
dc.subject GROWTH MEAN
dc.subject EXTERNAL CONDITIONS
dc.subject CRISES
dc.subject INSTITUTIONAL ENVIRONMENT
dc.subject ACCOUNTABILITY
dc.subject LOW INFLATION
dc.subject GOVERNMENT CONSUMPTION
dc.subject BUREAUCRACY
dc.subject LEVEL OF INCOME
dc.subject PRO-POOR
dc.subject CAPITA INCOME GROWTH
dc.subject FINANCIAL CONDITIONS
dc.subject CITIZENS
dc.subject MACROECONOMIC STABILIZATION
dc.subject DEPENDENT VARIABLE
dc.subject ESTIMATED COEFFICIENTS
dc.subject SERIAL CORRELATION
dc.subject POLITICAL STABILITY
dc.subject STRUCTURAL POLICIES
dc.subject PUBLIC FINANCES
dc.subject MACROECONOMIC POLICIES
dc.subject EMPIRICAL STUDIES
dc.subject MEASUREMENT ERROR
dc.subject EMPIRICAL MODEL
dc.subject FACTOR ACCUMULATION
dc.subject ADVERSE EFFECTS
dc.subject NET EXPORTS
dc.subject HIGH GROWTH
dc.subject DEVELOPING COUNTRIES
dc.subject AGGREGATE SUPPLY
dc.subject GDP PER CAPITA
dc.subject HIGH INFLATION
dc.subject REAL GDP
dc.subject LAGGED GROWTH
dc.subject POOR GROWTH
dc.subject LIVING STANDARDS
dc.subject STANDARD DEVIATION
dc.subject GROWTH EFFECT
dc.subject NEOCLASSICAL GROWTH MODEL
dc.subject SAFETY NETS
dc.subject PRIMARY SCHOOL
dc.subject CAPITAL ACCUMULATION
dc.subject INFLATION RATES
dc.subject ESTIMATED COEFFICIENT
dc.subject COMPLEMENTARITIES
dc.subject POLICY REFORMS
dc.subject CORRELATION COEFFICIENT
dc.subject ACTUAL GROWTH
dc.subject COUNTRY LEVEL
dc.subject TRADE OPENNESS
dc.subject HOUSEHOLD SURVEYS
dc.subject PUBLIC INFRASTRUCTURE
dc.subject MACROECONOMIC CONDITIONS
dc.subject STAGNATION
dc.subject GROWTH PERFORMANCE
dc.subject CURRENCY APPRECIATION
dc.subject GOVERNMENT EFFECTIVENESS
dc.subject AGGREGATE SUPPLY CURVE
dc.subject CAPITAL STOCK
dc.subject AVERAGE INCOME
dc.subject MACROECONOMIC VOLATILITY
dc.subject LAGGED DEPENDENT
dc.subject POVERTY REDUCTION
dc.subject REGRESSION MODEL
dc.subject POLICY VARIABLES
dc.subject LABOR INPUT
dc.subject SIGNIFICANT IMPACT
dc.subject INCOME GROWTH
dc.subject EMPIRICAL GROWTH LITERATURE
dc.subject INCOME PER CAPITA
dc.subject SOCIAL VARIABLES
dc.subject HIGH TAXES
dc.subject INSTITUTIONAL PERFORMANCE
dc.subject CYCLICAL REVERSION
dc.subject ENDOGENOUS VARIABLES
dc.subject STABILIZATION POLICY
dc.subject INTEREST RATES
dc.subject PER CAPITA GROWTH
dc.subject TRADABLE SECTORS
dc.subject REAL EXCHANGE RATE
dc.subject EXCHANGE RATE MISALIGNMENT
dc.subject POLICY DEBATE
dc.subject DOMESTIC CONSUMPTION
dc.subject DOMESTIC DEMAND
dc.subject GROWTH RATES
dc.subject FINANCIAL CRISIS
dc.subject ECONOMIC GROWTH RATE
dc.subject PER CAPITA INCOME
dc.subject POOR COUNTRIES
dc.subject INSTITUTIONAL REFORM
dc.subject TECHNOLOGICAL PROGRESS
dc.subject HUMAN CAPITAL
dc.subject EXPORTS
dc.subject DOMESTIC CREDIT/GDP
dc.subject AVERAGE GROWTH RATES
dc.subject ECONOMIC DOWNTURNS
dc.subject DYNAMIC MODEL
dc.subject INCREASE IN LABOR
dc.subject INFLATION LEVELS
dc.subject NEGATIVE IMPACT ON GROWTH
dc.subject MONETARY POLICY
dc.subject DYNAMIC PANEL
dc.subject ERROR TERM
dc.subject MACROECONOMICS
dc.subject GROWTH DETERMINANTS
dc.subject FIXED EFFECTS
dc.subject STANDARD ERRORS
dc.subject INCOME LEVELS
dc.subject WEALTH
dc.subject MARKET ECONOMIES
dc.subject ELASTICITY
dc.subject IMPROVING GOVERNANCE
dc.subject NEGATIVE IMPACT
dc.subject PRIVATE DOMESTIC
dc.subject REDUCING POVERTY
dc.subject EXPLANATORY VARIABLES
dc.subject INFLATION RATE
dc.subject INSTITUTIONAL QUALITY
dc.subject DESCRIPTIVE STATISTICS
dc.subject LABOR FORCE
dc.subject INSTITUTIONAL REFORMS
dc.subject LAGGED CHANGES
dc.subject COUNTRY REGRESSIONS
dc.subject LAGGED LEVELS
dc.subject INTERACTION TERM
dc.subject LONG RUN
dc.subject STABILIZATION POLICIES
dc.subject BANKING CRISIS
dc.subject ECONOMIC GROWTH
dc.subject AGGREGATE PRODUCTION FUNCTION
dc.subject ECONOMETRICS
dc.subject FORECASTS
dc.subject INFLATIONARY PRESSURES
dc.subject SIGNIFICANT EFFECT
dc.subject INCOME LEVEL
dc.subject AVERAGE GROWTH
dc.subject TELEPHONE LINES
dc.subject CREDIT CONSTRAINTS
dc.subject RICH COUNTRIES
dc.subject COMPETITIVENESS
dc.subject CAPITAL FORMATION
dc.subject HUMAN CAPITAL DEVELOPMENT
dc.subject OUTPUT PER CAPITA
dc.subject PRICE LEVELS
dc.subject GROWTH EFFECTS
dc.subject POLICY AREAS
dc.subject ANNUAL GROWTH
dc.subject BENCHMARKS
dc.subject ECONOMICS
dc.subject GROWTH VOLATILITY
dc.subject FINANCIAL DEVELOPMENT
dc.subject ABSOLUTE VALUE
dc.subject AVERAGE INCOME GROWTH
dc.subject HIGH INCOME
dc.subject GROWTH RATE
dc.subject GOVERNANCE INDICATORS
dc.subject CORRELATION COEFFICIENTS
dc.subject ECONOMIC THEORY
dc.subject CORRUPTION
dc.subject EXTERNAL SHOCKS
dc.subject ECONOMIC DEPRESSION
dc.subject FISCAL POLICY
dc.subject NEOCLASSICAL GROWTH MODELS
dc.subject MACROECONOMIC ENVIRONMENT
dc.subject DETERMINANTS OF GROWTH
dc.subject REGULATORY QUALITY
dc.subject EXTERNAL FACTORS
dc.subject BENCHMARKING
dc.subject MACROECONOMIC STABILITY
dc.subject TRADE VOLUME/GDP
dc.subject NEOCLASSICAL GROWTH THEORY
dc.subject FLUCTUATIONS
dc.subject TELECOMMUNICATIONS
dc.subject TELEPHONES
dc.subject INSTITUTIONAL FRAMEWORK
dc.subject EDUCATIONAL ATTAINMENT
dc.subject GROWTH ACCOUNTING
dc.subject INSTRUMENTAL VARIABLES
dc.subject GROWTH REGRESSIONS
dc.subject PUBLIC SPENDING
dc.subject LONG-TERM GROWTH
dc.subject POTENTIAL OUTPUT
dc.subject POLITICAL INSTITUTIONS
dc.title Beyond Commodities en
dc.type Report en
dc.rights.holder World Bank
dc.title.subtitle The Growth Challenge of Latin America and the Caribbean


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