Does the Investment Climate Matter? Microeconomic Foundations of Growth in Latin America

by UK, Palgrave Macmillan; Fajnzylber, Pablo; Guasch, Jose Luis; Lopez, J. Humberto

• ISBN13: 9780821374115
• ISBN10: 0821374117
• Format: Paperback
• Copyright: 2008-11-12
• Publisher: World Bank Publications

Summary

Although the Latin American region's growth rates are at a three decade high, they have been historically disappointing in relative terms, which cannot be dissociated from the microeconomic environment in which firms operate. Policy makers may need to complement their focus on macroeconomic stability with an increased emphasis on microeconomic reforms. By providing empirical evidence linking actual firm performance to shortcomings in Latin America's investment climate, the book discusses policies that could have a significant impact on firm productivity by improving the environment in which firms invest and operate.

Table of Contents

Preface	p. xvii
Acknowledgments	p. xix
Abbreviations	p. xxi
Is Another Study of Economic Performance in Latin America and the Caribbean Needed?	p. 1
The Investment Climate in Latin America	p. 49
What Would Be the Effect of a Better Investment Climate for All?	p. 113
Behind the Investment Climate: Back to Basics-Determinants of Corruption	p. 139
What Are the Determinants of Financial Access in Latin America?	p. 179
Product Innovation: The Roles of Research and Development Expenditures and the Investment Climate	p. 241
Exporter Premiums	p. 269
Index	p. 309
Figures
Per Capita Growth in Latin America and the Caribbean, 1963-2006	p. 2
Per Capita Growth in Latin America and the Caribbean, Taking into Account Deviations with Respect to Global Trends, 1963-2005	p. 3
Per Capita Growth in Latin America and the Caribbean, Taking into Account Deviations with Respect to Selected Country Groups, 1963-2005	p. 5
Per Capita Growth in Latin America and the Caribbean, Taking into Account Deviations with Respect to Country Detail of Global Trends, 1963-2005	p. 7
Gross Capital Formation as a Percentage of GDP, 2004	p. 13
Investment in Latin America in Relation to Per Capita Growth Rate, 2000-05 and 1970-2005	p. 13
Investment and Growth in Latin America, 1970-2005	p. 15
Investment and Growth in the World, Excluding Latin America, 1970-2005	p. 17
Regional and Group Comparisons of TFP, 1970-2005	p. 19
TFP in Selected Latin American and Caribbean Countries, 2001-05	p. 20
Dramatic Reduction of Vulnerabilities	p. 26
Institutional Quality and Per Capita GDP across Countries	p. 31
Business Environment	p. 32
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