Crecimiento económico, productividad y sector externo de América Latina

Abstract

This paper aims to examine the balance between economic growth, productivity and Latin America's external sector in the period 1980-2011 using the model proposed by Dixon Thirlwall (1975), based on the following hypothesis: The greater product growth will be an increase in productivity. This increase leads to the reduction of unit labor costs, which in turn will lead to accelerated growth of exports and output through the Verdoorn effect, whereby labor productivity growth depends on output growth. The results indicate that Argentina, Bolivia, Chile and Costa Rica show a convergent rate above their expected growth rate, while Brazil, Colombia, Ecuador, Mexico and Peru have a lower convergence rate. It is concluded that the increase in the demand for exports has allowed the growth of manufacturing productivity in Argentina, Bolivia, Chile and Costa Rica. The opposite is the case of Brazil, Colombia, Ecuador, Mexico and Peru, because its productive structure is inefficient and has not been able to satisfy the demand for goods