WPS 10227 - Latin America’s Growth: Looking through the Demand Glass

This paper revisits the historical roots of Latin America’s disappointing growth using a novel macro and trade-based growth decomposition and a simple model of industrialization in a commodities-exporting country with a large informal sector. This paper is a product of the Office of the Chief Economist for Latin America and the Caribbean. It is part of a larger effort by the World Bank to provide open access to its research and make a contribution to development policy discussions around the world. Policy Research Working Papers are also posted on the Web at http://www.worldbank.org/prwp. The author(s) may be contacted at [e-mail].