This study estimates Climate Adjusted Total Factor Productivity (CATFP) for agriculture in Latin America and Caribbean (LAC) countries, while also providing comparisons with several regions of the world. Climatic variability is introduced in Stochastic Production Frontier (SPF) models by...

By studying the interaction between social capital and decentralization, we show that political decentralization can be a source of divergence across heterogeneous regions. In particular, we claim that since the local endowments of social capital display their effect on the economy mainly...