Economic reforms, financial development and growth lessons from the Chilean experience

Despite reform efforts, the economic performance of Latin American countries during the 1990s was disappointing with the exception of Chile, which grew at almost 7% per year. This paper tries to explain this difference. Following recent literature that highlights the role played by institutions and...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Cuadernos de economía
1. Verfasser: Hernández, Leonardo (VerfasserIn)
Weitere Verfasser: Parro, Fernando (BerichterstatterIn)
Format: UnknownFormat
Sprache:eng
Veröffentlicht: 2008
Schlagworte:
1960-2005 > Wirtschaftswachstum > Wirtschaftsreform > Institutionenökonomik > Chile > Wirtschaftsentwicklung > Ordnungspolitik > Finanzwirtschaft > Einrichtung > Deregulierung > Steuerreform > Wirtschaftliche Entwicklung > Aufsatz in Zeitschrift
Online Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:Despite reform efforts, the economic performance of Latin American countries during the 1990s was disappointing with the exception of Chile, which grew at almost 7% per year. This paper tries to explain this difference. Following recent literature that highlights the role played by institutions and policies on economic growth, we estimate a cross-section econometric model over the 1960-2005 period and find that Chile’s better performance can largely be explained by a combination of better institutions and reforms that have been deeper and broader in scope thant hose in the rest of Latin America. In addition, we estimate that improving institutions in other Latin American countries to the Chilean standard would have increased per-capita GDP growth rates by about one and a half percentage points. (Cuad Econ/GIGA)
Beschreibung:Zsfassung in span. Sprache
Beschreibung:graph. Darst.
Tab., graph. Darst., Lit. S. 98-100
ISSN:0716-0046