Productivity Growth in Latin American and the Caribbean: Exploring the Macro-Micro Linkages

doi:10.1596/28866

Publication:
Productivity Growth in Latin American and the Caribbean: Exploring the Macro-Micro Linkages

dc.contributor.author	Thompson Araujo, Jorge
dc.contributor.author	Vostroknutova, Ekaterina
dc.contributor.author	Wacker, Konstantin
dc.date.accessioned	2017-11-15T17:36:36Z
dc.date.available	2017-11-15T17:36:36Z
dc.date.issued	2017-11-01
dc.description.abstract	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.	en
dc.identifier	http://documents.worldbank.org/curated/en/692341509981182144/Productivity-growth-in-Latin-American-and-the-Caribbean-exploring-the-macro-micro-linkages
dc.identifier.doi	10.1596/28866
dc.identifier.uri	https://hdl.handle.net/10986/28866
dc.language	English
dc.publisher	Washington, DC: World Bank
dc.relation.ispartofseries	MFM Global Practice discussion paper,no. 19;
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	MACROECONOMIC SHOCKS
dc.subject	VULNERABILITY
dc.subject	ECONOMIC GROWTH
dc.title	Productivity Growth in Latin American and the Caribbean	en
dc.title.subtitle	Exploring the Macro-Micro Linkages	en
dc.type	Working Paper	en
dc.type	Document de travail	fr
dc.type	Documento de trabajo	es
dspace.entity.type	Publication
okr.crossref.title	Productivity Growth in Latin American and the Caribbean
okr.date.disclosure	2017-11-06
okr.doctype	Publications & Research
okr.doctype	Publications & Research::Working Paper
okr.docurl	http://documents.worldbank.org/curated/en/692341509981182144/Productivity-growth-in-Latin-American-and-the-Caribbean-exploring-the-macro-micro-linkages
okr.guid	692341509981182144
okr.identifier.doi	10.1596/28866
okr.identifier.externaldocumentum	090224b0851dba1f_1_0
okr.identifier.internaldocumentum	28136244
okr.identifier.report	120956
okr.imported	true	en
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/692341509981182144/pdf/120956-WP-MFM-Discussion-Paper-19-Growth-Convergence-LAC-FINAL.pdf	en
okr.region.administrative	Latin America & Caribbean
okr.region.geographical	Caribbean
okr.region.geographical	Central America
okr.region.geographical	Latin America
okr.region.geographical	South America
okr.topic	Industry::Industrial Economics
okr.topic	Macroeconomics and Economic Growth::Economic Growth
okr.topic	Macroeconomics and Economic Growth::Economic Theory & Research
okr.topic	Macroeconomics and Economic Growth::Macroeconomic Management
okr.topic	Private Sector Development::Business Environment
okr.unit	Macro & Fiscal Mgmt - GP (GMFDR)
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