Has Latin America's Post-reform Growth Been Disappointing? 1960-1993 - Argentina, Australia, Austria...and 76 more

Abstract
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After years of poor economic performance, many Latin American countries undertook ambitious programs of macroeconomic stabilization and structural reform during recent years. The change in policy created high expectations for the region. Some observers question, however, whether actual growth outcomes in several Latin American countries have measured up to such expectations. This paper offers some evidence that the response of economic growth to reforms in Latin America has not been disappointing. Because of the significant changes in policies achieved in Latin America by the 1990s and in spite of the global slowdown, Latin America did well to return to its historic rate of growth of 2 percent per capita in 1990-93. Latin America growth has responded to changes in policy variables as would have been predicted by the experience of other times and places, as summarized by a panel regression spanning all countries and multi-year periods from 1960 to 1993. In order to obtain consistent estimates of the parameters linking policy variables and growth, this paper uses a dynamic panel methodology that both controls for unobserved time- and country-specific effects and accounts for the likely joint endogeneity of the explanatory variables.

This is the data used in the paper "Has Latin America's Post-Reform Growth Been Disappointing?" by William Easterly, Norman Loayza, and Peter Montiel (Journal of International Economics, 1997).

Kind of data
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Aggregate data [agg]

Mode of data collection
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Other [oth]

{'Abstract': '历经多年的经济表现不佳，近年来许多拉丁美洲国家着手实施了雄心勃勃的宏观经济稳定和结构改革计划。政策的转变在区域内引发了极高的期望。然而，一些观察家对此表示质疑，即拉丁美洲部分国家的实际增长成果是否已达到如此高的期望。本文提供了一些证据，表明拉丁美洲经济增长对改革的响应并未令人失望。得益于20世纪90年代拉丁美洲在政策层面取得的显著变化，尽管全球经济增长放缓，该地区仍成功恢复至1990-93年的历史人均增长率2%。拉丁美洲的增长对政策变量的变化做出了反应，正如其他时期和地区的经验所预测的那样，这通过涵盖1960年至1993年间所有国家和多年期的面板回归得到总结。为了获得政策变量与增长之间参数的一致估计，本文采用了动态面板方法，该方法既控制了不可观测的时间和地区特定效应，也考虑了解释变量可能存在的联合内生性。', 'Kind of data': '综合数据 [agg]', 'Mode of data collection': '其他 [oth]'}