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El desarrollo económico de la América Latina y algunos de sus principales problemas = The economic development of Latin America and its principal problems
About: This article is published in Research Papers in Economics.The article was published on 1949-05-14 and is currently open access. It has received 1286 citations till now. The article focuses on the topics: Latin Americans.
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TL;DR: The authors showed that countries with a high ratio of natural resource exports to GDP tended to have low growth rates during the subsequent period 1971-89, even after controlling for variables found to be important for economic growth, such as initial per capita income, trade policy, government efficiency, investment rates, and other variables.
Abstract: One of the surprising features of modern economic growth is that economies with abundant natural resources have tended to grow less rapidly than natural-resource-scarce economies. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1971 (the base year) tended to have low growth rates during the subsequent period 1971-89. This negative relationship holds true even after controlling for variables found to be important for economic growth, such as initial per capita income, trade policy, government efficiency, investment rates, and other variables. We explore the possible pathways for this negative relationship by studying the cross-country effects of resource endowments on trade policy, bureaucratic efficiency, and other determinants of growth. We also provide a simple theoretical model of endogenous growth that might help to explain the observed negative relationship.
3,511 citations
TL;DR: This paper reviewed a wide range of recent attempts in both economics and political science to explain the "resource curse" and found that much has been learned about the economic problems of resource exporters but less is known about their political problems.
Abstract: How does a state's natural resource wealth influence its economic development? For the past fifty years, versions of this question have been explored by both economists and political scientists. New research suggests that resource wealth tends to harm economic growth, yet there is little agreement on why this occurs. This article reviews a wide range of recent attempts in both economics and political science to explain the “resource curse.” It suggests that much has been learned about the economic problems of resource exporters but less is known about their political problems. The disparity between strong findings on economic matters and weak findings on political ones partly reflects the failure of political scientists to carefully test their own theories.
1,690 citations
TL;DR: In this paper, the authors present evidence from seven Latin American countries that natural resource booms are sometimes accompa- nied by declining per-capita GDP, and they present a model with natural resources, increasing returns in the spirit of big push models.
1,581 citations
TL;DR: The Kiel Institute for the World Economy (Kiel) as mentioned in this paper provided a good deal of support during my stay at Kiel in 1992, and I am particularly grateful to the participants of a seminar at USAID for stimulating discussions.
Abstract: I am indebted to three referees for extremely helpful comments This paper was revised during my stay at the Kiel Institute for the World Economy, in March 1992 I thank colleagues and the library staff at Kiel for support I am grateful to the participants of a seminar at USAID for stimulating discussions I especially thank Jim Fox for his comments Roberto Schatan, Fernando Losada, and Abraham Vela, provided able assistance I am particularly indebted to Miguel Savastano for extensive assistance and comments on earlier versions of this paper Financial support from the Institute for Policy reform, the University of California Pacific Rim Program, and the National Science Foundation is gratefully acknowledged
1,450 citations
TL;DR: In this paper, value chain analysis can be used to chart the growing disjuncture between global economic activity and global income distribution and to provide causal explanations for this outcome, providing valuable insights into policy formulation and implementation.
Abstract: Although many have gained from the process of globalisation, there remains a stubbornly large number of people living in absolute poverty and a rise in inequality within and between countries. The issue is thus not whether to participate in the global economy but how to do so in a manner which provides for sustainable and equitable income growth. This study shows how value chain analysis can be used to chart the growing disjuncture between global economic activity and global income distribution and to provide causal explanations for this outcome. In so doing, value chain analysis provides valuable insights into policy formulation and implementation.
1,006 citations