Growth slowdowns at middle income levels: Identifying mechanisms of external constraints

被引:4
|
作者
Bianchi, Carlos [1 ,2 ]
Isabella, Fernando [1 ]
Picasso, Santiago [1 ]
机构
[1] Univ Republica, Inst Econ, Sch Econ & Adm, Montevideo, Uruguay
[2] Univ Republica, Inst Econ, Sch Econ & Adm, Gonzalo Ramirez 1926, Montevideo 11200, Uruguay
关键词
export margin; external constraint; Latin America; middle-income trap; STRUCTURAL-CHANGE; ECONOMIC-GROWTH; TRAP; AFRICA; MODEL;
D O I
10.1111/meca.12414
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper provides evidence that external constraints determine growth slowdowns in middle-income countries. Econometric models corroborate a positive and significant relation between export margin and the growth of GDPpc for those countries that have remained between middle-income thresholds for at least 30 years, but not for others. While advanced economies have sustained their growth through permanent increases in productivity and the quality of products, many middle-income countries, most of them from Latin America, remain dependent on external prices for growth. Our results shed new light on old development challenges for developing countries.
引用
收藏
页码:288 / 305
页数:18
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