Beyond Commodities
Beyond Commodities shows that Latin America and the Caribbean’s growth performance over the last decade cannot be reduced to the commodity boom: growth-promoting reforms that strengthened financial development, increased trade openness and improved infrastructure development also played a significan...
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| Main Authors: | , , , , |
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| Format: | Online |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2016
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10986/25321 https://doi.org/10.1596/978-1-4648-0658-2 |
| _version_ | 1866367755568021504 |
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| author | Araujo, Jorge Thompson Vostroknutova, Ekaterina Brueckner, Markus Clavijo, Mateo Wacker, Konstantin M. |
| author_facet | Araujo, Jorge Thompson Vostroknutova, Ekaterina Brueckner, Markus Clavijo, Mateo Wacker, Konstantin M. |
| author_sort | Araujo, Jorge Thompson |
| collection | Colección Libros - Series (activas) |
| description | Beyond Commodities shows that Latin America and the Caribbean’s growth performance over the last decade cannot be reduced to the commodity boom: growth-promoting reforms that strengthened financial development, increased trade openness and improved infrastructure development also played a significant role and can continue doing so. Based on the econometric analysis of panel data from the 1970-2010 period for 126 countries, the study shows that, while the commodity boom facilitated growth in most of the region, it did not determine it.
Domestic pro-growth policies and the maintenance of a sound macro-fiscal framework played a central role in explaining the region’s good performance during last decade. It also shows that new growth “stars” such as Panama, Peru, Colombia and the Dominican Republic emerged during this period. In addition, a benchmarking exercise reveals which policy gaps will lead to the highest potential growth-payoffs for each country and helps identify potential trade-offs.
Finally, with the worsening of external conditions, the authors conclude that the countries of Latin America and the Caribbean have no choice but to turn their attention to domestic drivers to keep growth going, as the structural reforms agenda remains unfinished. |
| format | Online Book |
| id | wb-10986-25321 |
| institution | Banco Mundial |
| language | English en_US |
| publishDate | 2016 |
| publisher | Washington, DC: World Bank |
| record_format | dspace |
| spelling | wb-10986-253212025-04-15T12:02:45Z Beyond Commodities The Growth Challenge of Latin America and the Caribbean Araujo, Jorge Thompson Vostroknutova, Ekaterina Brueckner, Markus Clavijo, Mateo Wacker, Konstantin M. GENERALIZED METHOD OF MOMENTS GROWTH REGRESSIONS CONVERGENCE STRUCTURAL REFORMS COMMODITY PRICES COMMODITY BOOM Beyond Commodities shows that Latin America and the Caribbean’s growth performance over the last decade cannot be reduced to the commodity boom: growth-promoting reforms that strengthened financial development, increased trade openness and improved infrastructure development also played a significant role and can continue doing so. Based on the econometric analysis of panel data from the 1970-2010 period for 126 countries, the study shows that, while the commodity boom facilitated growth in most of the region, it did not determine it. Domestic pro-growth policies and the maintenance of a sound macro-fiscal framework played a central role in explaining the region’s good performance during last decade. It also shows that new growth “stars” such as Panama, Peru, Colombia and the Dominican Republic emerged during this period. In addition, a benchmarking exercise reveals which policy gaps will lead to the highest potential growth-payoffs for each country and helps identify potential trade-offs. Finally, with the worsening of external conditions, the authors conclude that the countries of Latin America and the Caribbean have no choice but to turn their attention to domestic drivers to keep growth going, as the structural reforms agenda remains unfinished. 2016-11-02T15:52:59Z 2016-11-02T15:52:59Z 2016-11-02 Book Livre Libro 978-1-4648-0658-2 https://hdl.handle.net/10986/25321 10.1596/978-1-4648-0658-2 https://doi.org/10.1596/978-1-4648-0658-2 English en_US Latin American Development Forum; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank application/pdf Washington, DC: World Bank |
| spellingShingle | GENERALIZED METHOD OF MOMENTS GROWTH REGRESSIONS CONVERGENCE STRUCTURAL REFORMS COMMODITY PRICES COMMODITY BOOM Araujo, Jorge Thompson Vostroknutova, Ekaterina Brueckner, Markus Clavijo, Mateo Wacker, Konstantin M. Beyond Commodities |
| title | Beyond Commodities |
| title_full | Beyond Commodities |
| title_fullStr | Beyond Commodities |
| title_full_unstemmed | Beyond Commodities |
| title_short | Beyond Commodities |
| title_sort | beyond commodities |
| topic | GENERALIZED METHOD OF MOMENTS GROWTH REGRESSIONS CONVERGENCE STRUCTURAL REFORMS COMMODITY PRICES COMMODITY BOOM |
| url | https://hdl.handle.net/10986/25321 https://doi.org/10.1596/978-1-4648-0658-2 |
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