Had two variables that are difficult to change, such as geographic Use it to design a growth strategy for a country. It seems obvious to take one of those estimated regressions and Including a wide variety of geographic, institutional, demographic, Regressions have been run with all sorts of explanatory variables, The Barro-style (1991) cross-country growth regression. A workhorse of this research agenda has been To the question of what variables are causally associated with growth Much of the empirical research on growth has been addressed Should the government do to achieve sustained and shared growth?Īgain, the two questions are not completely independent, but neitherĪre they the same question-not even by a very long shot. The question: for this particular country, at this particular time, what Variable x affect the rate of growth of the average economy chosenĪt random from a certain population? X could be the level of inflation, the average tariff rate, the level of spending in schools, or the
Similarly, an economic researcher could ask the question, does The two questions are not totally unrelated, A typical medicalĭoctor asks the question: what should I give this particular patient XĬould be an analgesic and y could be a headache. Molecule x affect the level of variable y in the average person of aĬertain population? X could be salt and y could be blood pressure. Workshops in Washington on May 3–4 and September 20–21, 2007,Ī typical medical researcher asks questions along these lines: does The editors would like to thank Christianĭaude and Alfie Ulloa, as well as the participants in the discussion Ricardo Hausmann and Peter Montiel served as academicĪdvisors for the project. This project was coordinated by Manuel Agosin, Eduardoįernández-Arias, and Fidel Jaramillo, who are also the editors of The results of this research study are compiled in thisīook, which features seven of the country case studies. The barrier whose removal would yield the greatest benefit in terms Theįocus was on identifying the binding constraint to growth, that is, Panama, Paraguay, Peru, Mexico and Trinidad and Tobago. Inhibiting higher levels of productive investment and rapid, sustainable growth rates in the region.įollowing a methodology developed by Ricardo Hausmann,ĭani Rodrik and Andrés Velasco, the project included “growth diagnostics” for 14 countries in Latin America: Argentina, Brazil, Chile,Ĭolombia, Ecuador, El Salvador, Guatemala, Guyana, Nicaragua, Joined with Harvard University’s Center for International Development and various research institutes in Latin America and the Caribbean in an ambitious research project to understand the factors In this context, the Inter-American Development Bank (IDB) Positive signs, the region’s growth still lags behind other emergingĮconomies, varies widely within the region and is largely explainedīy extremely favorable external conditions that have now taken a Most countries better positioned to weather the storm. Global financial crisis, economic reforms in recent decades have left Although the region has not been immune to the effects of the current 421ĭuring the past five years, most countries in Latin America and theĬaribbean registered significant economic growth rates and showedĪ dynamism that has been absent for much of the past 25 years. 365ĭaniel Artana, Sebastián Auguste, Ramiro Moya,Īppendix A. Agosin, Rodrigo Bolaños, and Félix DelgadoĪ Dual Economy. 217ĭaniel Artana, Sebastián Auguste, and Mario Cuevas Simón Cueva, Vicente Albornoz, and Leopoldo Avellán 111Ĭhristian Daude, and Eduardo Fernández- AriasĮcuador: Binding Constraints to Growth.165 To Growth and Competitiveness in Argentina. Manuel Agosin, Eduardo Fernández-Arias, and Fidel Jaramillo viiīinding Constraints to Growth in Latin America:Īn Overview.1
Latin America/Manuel Agosin, Eduardo Fernández-Arias, and Fidelġ. Growing pains : binding constraints to productive investments in Necessarily represent the views and policy of the IDB or its BoardĬataloging-in-Publication data provided by the The views expressed herein are those of the authors and do not Growing pains : binding constraints to productive - Inter
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