Productivity Growth in Latin American and the Caribbean : Exploring the Macro-Micro Linkages
This paper brings together the main findings and policy implications of two recent World Bank regional reports on economic growth in Latin America and the Caribbean: Araujo, Vostroknutova, Wacker and Clavijo, eds. (2016) and Araujo, Vostroknutova,...
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2017
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| Online Access: | http://documents.worldbank.org/curated/en/692341509981182144/Productivity-growth-in-Latin-American-and-the-Caribbean-exploring-the-macro-micro-linkages http://hdl.handle.net/10986/28866 |
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okr-10986-288662021-05-25T09:07:30Z Productivity Growth in Latin American and the Caribbean : Exploring the Macro-Micro Linkages Thompson Araujo, Jorge Vostroknutova, Ekaterina Wacker, Konstantin MACROECONOMIC SHOCKS VULNERABILITY ECONOMIC GROWTH This paper brings together the main findings and policy implications of two recent World Bank regional reports on economic growth in Latin America and the Caribbean: Araujo, Vostroknutova, Wacker and Clavijo, eds. (2016) and Araujo, Vostroknutova, Brueckner, Clavijo, and Wacker (2016). In doing so, the paper focuses on finding the right balance between micro- and macro-inference when thinking about growth in Latin America and the Caribbean. The paper documents the region's growth performance over the past decade, highlighting the roles played by the commodity boom, macroeconomic stabilization and structural reforms. It notes that, despite faster growth during the first decade of this century, the region failed to achieve sustained convergence towards higher income levels. The paper points out that the persistent income gap could be reduced through: (i) increasing focus on closing the efficiency gap – beyond mere factor accumulation; (ii) eliminating distortions that cause misallocation of resources will also improve the incentives to innovate; (iii) identifying the main country-specific constraints to growth instead of looking for universal recipes; (iv) containing macroeconomic volatility, thereby alleviating the negative impact of persistent poverty on growth; and (v) improving the composition of public spending. 2017-11-15T17:36:36Z 2017-11-15T17:36:36Z 2017-11-01 Working Paper http://documents.worldbank.org/curated/en/692341509981182144/Productivity-growth-in-Latin-American-and-the-Caribbean-exploring-the-macro-micro-linkages http://hdl.handle.net/10986/28866 English MFM Global Practice discussion paper,no. 19; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Working Paper Latin America & Caribbean Caribbean Central America Latin America South America |
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Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
MACROECONOMIC SHOCKS VULNERABILITY ECONOMIC GROWTH |
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MACROECONOMIC SHOCKS VULNERABILITY ECONOMIC GROWTH Thompson Araujo, Jorge Vostroknutova, Ekaterina Wacker, Konstantin Productivity Growth in Latin American and the Caribbean : Exploring the Macro-Micro Linkages |
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Latin America & Caribbean Caribbean Central America Latin America South America |
| relation |
MFM Global Practice discussion paper,no. 19; |
| description |
This paper brings together the main
findings and policy implications of two recent World Bank
regional reports on economic growth in Latin America and the
Caribbean: Araujo, Vostroknutova, Wacker and Clavijo, eds.
(2016) and Araujo, Vostroknutova, Brueckner, Clavijo, and
Wacker (2016). In doing so, the paper focuses on finding the
right balance between micro- and macro-inference when
thinking about growth in Latin America and the Caribbean.
The paper documents the region's growth performance
over the past decade, highlighting the roles played by the
commodity boom, macroeconomic stabilization and structural
reforms. It notes that, despite faster growth during the
first decade of this century, the region failed to achieve
sustained convergence towards higher income levels. The
paper points out that the persistent income gap could be
reduced through: (i) increasing focus on closing the
efficiency gap – beyond mere factor accumulation; (ii)
eliminating distortions that cause misallocation of
resources will also improve the incentives to innovate;
(iii) identifying the main country-specific constraints to
growth instead of looking for universal recipes; (iv)
containing macroeconomic volatility, thereby alleviating the
negative impact of persistent poverty on growth; and (v)
improving the composition of public spending. |
| format |
Working Paper |
| author |
Thompson Araujo, Jorge Vostroknutova, Ekaterina Wacker, Konstantin |
| author_facet |
Thompson Araujo, Jorge Vostroknutova, Ekaterina Wacker, Konstantin |
| author_sort |
Thompson Araujo, Jorge |
| title |
Productivity Growth in Latin American and the Caribbean : Exploring the Macro-Micro Linkages |
| title_short |
Productivity Growth in Latin American and the Caribbean : Exploring the Macro-Micro Linkages |
| title_full |
Productivity Growth in Latin American and the Caribbean : Exploring the Macro-Micro Linkages |
| title_fullStr |
Productivity Growth in Latin American and the Caribbean : Exploring the Macro-Micro Linkages |
| title_full_unstemmed |
Productivity Growth in Latin American and the Caribbean : Exploring the Macro-Micro Linkages |
| title_sort |
productivity growth in latin american and the caribbean : exploring the macro-micro linkages |
| publisher |
Washington, DC: World Bank |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/692341509981182144/Productivity-growth-in-Latin-American-and-the-Caribbean-exploring-the-macro-micro-linkages http://hdl.handle.net/10986/28866 |
| _version_ |
1764467907342893056 |