The paper analyzes Jamaica's experience of low growth despite consistently high investment. Cross-country analysis provides evidence of a significant and negative relationship between total public debt and productivity growth. Looking at the specific channels through which high debt affects...

In recent times, Sraffian Supermultiplier Model (SSM) (Freitas & Serrano, 2015; Serrano, 1995; Serrano et al., 2019) has become prominent in both theoretical and empirical discussions within the demand-led-growth framework. The SSM has three distinctive features: the rate of growth of output is...

This paper looks at the hypothesis of conditional convergence of Gross Domestic Product (GDP) per capita for a set of eighteen Latin American countries establishing a positive link with the growth rate of those economies. To that purpose, Ø-convergence, σ-convergence and Ú-convergence...

The Mexican economy has shown four decades of slow growth; still it would be reasonable to expect changes in its productive structure along such a long period of time considered, as a result either of the embodied technical change or as a result of the economic policies, that have sought the...

Latin America has been strongly affected by the international crisis and recession since late 2008. In comparison to historical experience, how has Latin America coped with the global crisis, which has been the role of different transmission mechanisms, and how have the region's structural and...

The aim of this article is to evaluate the contribution of the banking sector to the economic growth of 16 Latin American countries, from 1979 to 2006. The econometric procedure is based on a panel data technique with fixed effects, classifying the countries in two samples according to their...

This paper investigates empirically the sources of aggregate output growth and the determinants of total factor productivity (TFP) in Niger between 1963 and 2003. A growth accounting analysis indicates that the erosion in output per capita over the sample period is due to the negative growth of...

This paper estimates potential output and the sources of growth in Chile during 1970-96. Actual output is cointegrated with the quality-adjusted measures of capital and labor, and constant returns to scale cannot be rejected. The estimates of potential output show a positive output gap in the...

The collapse of the Cuban economy following the cessation of Soviet assistance gave way to a strong recovery in 1994-96. There are three possible explanations for this recovery: (i) that it never took place; (ii) that it reflected a surge in productivity resulting from stabilization and...

This research study summarises the effects of corruption in Brazil and its effects on the economic growth of the country, both on the governmental and corporate level. By making use of the theoretical approach of Pak Hung Mo and his model of the economic growth which takes into consideration...