Economic growth and its components in south America: Performance in the period 1950-2019

• Angelo Diomar Villalobos Valencia https://orcid.org/0000-0002-9391-2388
• Leobaldo Enrique Molero Oliva https://orcid.org/0000-0002-4024-7441
• Alberto Gregorio Castellano Montiel https://orcid.org/0000-0003-0824-3202

DOI: https://doi.org/10.31876/rcs.v29i3.40693

Palabras clave: Production, Real Gross Domestic Product, economic growth, Gross Domestic Product per capita, comparative analysis

Resumen

The objective of this research was to describe the performance of economic growth and its components in the South American region during the period 1950-2019. The research was descriptive in nature under a quantitative approach, with data from secondary sources covering the period in question. The behavior of the main variables associated with growth, such as Gross Domestic Product and the productive inputs capital and labor adjusted for human capital, were described for the period under study. The results obtained show that economic growth has been relatively modest since the early 1970s. However, in recent years, several countries in the region have made considerable progress in terms of growth of Gross Domestic Product per capita.

Citas

Acemoglu, D. (2009). Introduction to modern economic growth. Princeton University Press.

Acemoglu, D., & Robinson, J. (2012). Why nations fail: The origins of power, prosperity and poverty. Editorial Deusto.

Arroyo, A., & Cossío, F. (2015). Impacto fiscal de la volatilidad del precio del petróleo en América Latina y el Caribe. CEPAL. http://repositorio.cepal.org/handle/11362/39706

Barro, R. J., & Sala-i-Martin, X. I. (2009). Crecimiento económico. Reverté S.A.

Bejarano, H. F., Molero, L., Campuzano, J., & Salcedo, V. (2018). Productividad de los factores, producto potencial y brecha del producto en Perú. Económicas CUC, 39(1). 41-60. https://doi.org/10.17981/econcuc.39.1.2018.03

Bértola, L., & Ocampo, J. (2012). The economic development of Latin America since independence. Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199662135.001.0001

Blanchard, O., Amighini, A., & Giavazzi, F (2012). Macroeconomics. Pearson Education, S.A.

Comisión Económica para América Latina y el Caribe - CEPAL (1996). América Latina y el Caribe quince años después: de la década perdida a la transformación. CEPAL, Fondo de Cultura Económica. https://www.cepal.org/es/publicaciones/2003-america-latina-caribe-quince-anos-despues-la-decada-perdida-la-transformacion

Feenstra, R. C., Inklaar, R., & Timmer, M. P. (2015). The next generation of the Penn World Table. American Economic Review, 105(10), 3150-3182. https://doi.org/10.1257/aer.20130954

Golub, S. S. (1991). The political economy of the Latin American debt crisis. Latin American Research Review, 26(1), 175-215. https://works.swarthmore.edu/fac-economics/75/

Hofman, A. A. (2000). The economic development of Latin America in the twentieth century. Edward Elgar Publishing Inc. https://repositorio.cepal.org/handle/11362/1650

Hopenhayn, H. A., & Neumeyer, P. A. (2004). Latin America in the XXth Century: Stagnation, then collapse. Working Paper, No. 326. http://repec.org/esLATM04/up.28921.1082602077.pdf

Inter-American Development Bank - IDB (2018). Latin America and the Caribbean Macroeconomic Report 2018: Time for growth. IDB. https://www.iadb.org/es/investigacion-y-datos/informe-macroeconomico-de-america-latina-y-el-caribe-2018

Kalkavan, H., Yüksel, S., & Dinçer, H. (2021). Identifying the relationship between labor productivity and economic development for Turkey. In M. K. Pal (Ed.), Productivity growth in the manufacturing sector (pp. 43-54). Emerald Publishing Limited. https://doi.org/10.1108/978-1-80071-094-820211004

Molero, L. (2014). Convergencia en producto per cápita: Evidencia para Suramérica. Revista de Ciencias Sociales (Ve), XX(4), 692-705. https://produccioncientificaluz.org/index.php/rcs/article/view/25698

Naím, M., & Lozada, C. (2001). Latin America’s economics: The good, the bad and the ugly. In R. L. Kugler & E. L. Frost (Eds.), The global century: Globalization and national security (pp. 875-894). National Defense University.

Ocampo, J. A. (2009). Impactos de la crisis financiera mundial sobre América Latina. Revista CEPAL, (97), 9-32. https://repositorio.cepal.org/handle/11362/11269

Ocampo, J. A. (2014). The Latin American debt crisis in historical perspective. In J. E. Stiglitz & D. Heymann (Eds.), Life after debt. International Economic Association Series (pp. 87-115). Palgrave Macmillan. https://doi.org/10.1057/9781137411488_4

Pozo, B. D. (2021). Crecimiento económico y diferencias internacionales en el nivel de ingreso: ¿Qué dicen los datos y la teoría? Revista Venezolana de Análisis de Coyuntura, 27(1), 77-95. http://saber.ucv.ve/ojs/index.php/rev_ac/article/view/22692

Pozo, B. D., & Ocando, C. C. (2016). Crecimiento económico y diferencias internacionales en el nivel de ingreso: Una revisión de algunos datos históricos. Boletín BCVoz Económico, (Edición Especial XX Aniversario), 20-22. https://www.bcv.org.ve/publicaciones/bcvoz-economico-edicion-especial-xx-aniversario-2016

Reyes, G. (2000). Síntesis de la historia económica de América Latina 1960-2000. Tendencias, 1(2), 1-34. https://revistas.udenar.edu.co/index.php/rtend/article/view/695

Rodrik, D. (2011). One economy, many recipes. Globalization, institutions and economic growth. Fondo de Cultura Económica.

Romer, D. (2012). Advanced macroeconomics. McGraw-Hill Companies.

Sala-i-Martin, X. (2000). Apuntes de crecimiento económico. Antoni Bosch Editor.

Singh, K. C. (2021). Determinants of economic growth: An empirical investigation using Central and Eastern European countries data [Master’s Thesis, University of Groningen].

Solimano, A., & Soto, R. (2005). Economic growth in Latin America in the late 20th century: evidence and interpretation. CEPAL. https://www.cepal.org/en/publications/5398-economic-growth-latin-america-late-20th-century-evidence-and-interpretation

Soto, R., & Zurita, F. (2011). Two centuries of economic growth: Latin America at its Bicentennial celebration. Latin American Journal of Economics, 48(2), 113-132. http://dx.doi.org/10.4067/S0719-04332011000200001

Taylor, A. M. (1999). Latin America and foreign capital in the twentieth century: Economics, politics and institutional change. National Bureau of Economic Research (NBER). Working Paper No. 7394. https://doi.org/10.3386/w7394

Villalobos, A. D. (2018). Análisis de la Productividad Total de los Factores en la región sudamericana en el período 1950-2014 aplicando el modelo extendido de Solow-Swan [Tesis de pregrado, Universidad del Zulia].

Villalobos, A. D., Molero, L. E., & Castellano, A. G. (2021). Análisis de la productividad total de los factores en América del Sur en el período 1950-2014. Lecturas de Economía, (94), 127-163. https://doi.org/10.17533/udea.le.n94a341253

Villegas, E., Acosta, A., & Cayaffa, R. (2010). La crisis hipotecaria estadounidense: origen y evolución. Cuadernos Latinoamericanos, (38), 49-68.