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Economic development and growth in Latin American and Caribbean countries
| Content Provider | Semantic Scholar |
|---|---|
| Author | Huynh, Lisa |
| Copyright Year | 2020 |
| Abstract | Productivity and growth are important issues in 21stcentury development. Productivity is crucial to development because it affects various economic conditions (e.g., wages and profits) and people’s overall quality of life. Compared with countries in other regions, those in Latin America and the Caribbean suffer from especially low productivity and growth. Although low growth rates may not be a top priority for policymakers facing other pressing issues, they could be costly over time. For instance, if Argentina grew at the same rate as other countries since 1960, its income per capita in 2006 would have been similar to that of the United Kingdom. However, Argentina’s income per capita in 2006 was only $12,258, compared with $27,800 for the United Kingdom. While the rest of the world has benefitted from robust growth since the late 20th century, Latin American and Caribbean countries still face many hurdles on their path to productivity success. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://www.bls.gov/opub/mlr/2020/book-review/pdf/economic-development-and-growth.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
