Economic growth regimes: Evidence from Latin America
Regímenes de crecimiento económico: evidencia de Latinoamérica
DOI:
https://doi.org/10.15446/cuad.econ.v42n89.94817Palavras-chave:
Growth regimes, economic instability, income inequality, Latin America (en)regímenes de crecimiento, inestabilidad económica, desigualdad de ingresos, América Latina (es)
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This paper studies the effect of economic instability, income inequality and openness in the transition to different growth regimes for 18 Latin American countries during the 1980-2014 period. The study is carried out determining three different levels: low, middle and high economic growth. The countries are categorised according to the method of k-median clustering. We use panel data estimation applying random effects model and ordered logit. The results indicate that instability and inequality negatively affect the economic performance of the region, while openness is not a significant factor in explaining economic growth.
En este artículo se estudia el efecto de la inestabilidad económica, la desigualdad y la apertura en la transición a diferentes regímenes de crecimiento para 18 países de América Latina en el período 1980-2014. Este artículo define tres niveles: crecimiento económico bajo, medio y alto. Los países se categorizan mediante análisis de clústeres. Usamos datos de panel aplicando efectos aleatorios y logit ordenado como técnicas de estimación. Los resultados indican que la inestabilidad afecta negativamente el rendimiento económico de la región, mientras que la apertura no resulta significativa.
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