Understanding Latin America and the Caribbean’s Income Gap

Even nearly ten years of solid growth cannot guarantee long-term income convergence. The countries of the Latin America and Caribbean region (LAC), like other emerging economies, have benefited from a decade of remarkable growth and some income per capita convergence towards the United States and ot...

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Bibliographische Detailangaben
Hauptverfasser:	Thompson Araujo, Jorge, Vostroknutova, Ekaterina, Wacker, Konstantin M, Clavijo, Mateo
Format:	Artikel
Sprache:	eng
Schlagworte:	ADVERSE EFFECT AGGREGATE DEMAND AGRICULTURE AVERAGE PRODUCTIVITY AVERAGING BANK LOANS BENCHMARK BOOK VALUE CAPITAL CENTRAL BANK CENTRAL PLANNING CLOSED ECONOMY COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPARATIVE ANALYSIS COMPETITION COMPETITIVENESS CONSTANT RETURNS TO SCALE CONSUMER PRICE INDEX CONSUMPTION COSTS CREDIT CREDIT RATIONING CRITERIA DEBT DEFLATION DEFLATORS DEVELOPMENT DEVELOPMENT ECONOMICS DEVELOPMENT POLICIES DEVELOPMENT POLICY DISPOSABLE INCOME DISTRIBUTION ECONOMETRIC ANALYSIS ECONOMETRICS ECONOMIC FLUCTUATIONS ECONOMIC GROWTH ECONOMIC OUTCOMES ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMIC STRUCTURE ECONOMIC SURVEYS ECONOMIC THEORY ECONOMICS ECONOMY ELASTICITY EXPECTED UTILITY EXPECTED VALUE EXPORT GROWTH EXPORTS EXTERNALITIES FAILURES FISCAL POLICY FORECASTS FUTURE RESEARCH GDP GDP PER CAPITA GOODS GROWTH POLICIES GROWTH POLICY GROWTH RATE GROWTH THEORIES GROWTH THEORY HUMAN CAPITAL INCENTIVES INCOME INCOME LEVELS INEFFICIENCY INFLUENCE INPUTS INTEREST INTERNATIONAL TRADE INVENTORIES INVENTORY INVESTMENT LAGS LIQUIDITY MACROECONOMIC CONDITIONS MACROECONOMIC POLICY MACROECONOMIC STABILIZATION MACROECONOMICS MANAGERIAL EFFICIENCY MARGINAL PRODUCT MARGINAL PRODUCTIVITY MARGINAL PRODUCTS MARGINAL UTILITY MARKETS MEASUREMENT MIDDLE INCOME COUNTRIES MONOPOLISTIC COMPETITION MONOPOLY NATURAL RESOURCES NEOCLASSICAL MODELS OPTIMIZATION OUTCOMES OUTPUT PER CAPITA PER CAPITA INCOME PERFECT COMPETITION POLITICAL ECONOMY PRICE INDEXES PRICES PRODUCT MARKETS PRODUCTION PRODUCTION FUNCTION PRODUCTIVE ASSETS PRODUCTIVITY PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PROPERTY RIGHTS PROPRIETORSHIP REAL GDP RETURNS TO SCALE RISK AVERSION SHARES STOCK STRUCTURAL CHANGE TECHNICAL ASSISTANCE TELECOMMUNICATIONS THEORY TOTAL FACTOR PRODUCTIVITY TRADE TRADE LIBERALIZATION TRENDS USE VALUE UTILITY UTILITY FUNCTION VALUE VALUE ADDED VARIABLES WAGES WEALTH WELFARE
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Zusammenfassung:	Even nearly ten years of solid growth cannot guarantee long-term income convergence. The countries of the Latin America and Caribbean region (LAC), like other emerging economies, have benefited from a decade of remarkable growth and some income per capita convergence towards the United States and other industrialized countries. Yet, despite this recent progress, LAC still faces a significant per capita income gap with the developed world. The studies in this volume contribute to the ongoing debate on the reasons for this persistent income gap and the potential drivers of convergence, and propose some broad avenues for reform.