Bakker, Bas B.; Ghazanchyan, Manuk; Ho, Alex; Nanda, Vibha - 2020
result of low investment. Latin America is poorer because of lower human capital levels and lower TFP-not because of a lower … capital-output ratio. Cross-country differences of TFP in turn are associated with differences in human capital, governance … business climate indicators converge rapidly. Poor countries without those attributes do not. We show that low investment is …