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Growth determinants in Latin America and East Asia: has globalization changed the engines of growth?

Author

Listed:
  • Ricardo Chica
  • Oscar Guevara
  • Diana López
  • Daniel Osorio

Abstract

La respuesta que emerge de un análisis comparativo entre América Latina y Asia del Este a la pregunta de si la globalización ha cambiado los motores del crecimiento es, a pesar de las extraordinarias posibilidades de desarrollo abiertas por este proceso, un no cualificado: la inversión, seguida del crecimiento industrial y del ahorro, los motores tradicionales del crecimiento, continúan teniendo la influencia más robusta, de lejos más fuerte que las variables constitutivas de la globalización, las exportaciones y los flujos de capital (incluida la IED). La influencia de estas últimas parece ser menos débil en Latinoamérica, y, en términos del superior desempeno económico del Este Asiático, esta región no muestra para ellas (exportaciones y flujos de capital) la clase de superioridad que muestra para dichos motores (inversión, crecimiento industrial y ahorro). La Dinámica de Rendimientos Crecientes que involucra el ciclo virtuoso Inversióngcrecimiento de la productividadgcompetitividad exportadoragcrecimientogInversión continua rigiendo el proceso de crecimiento en presencia de la globalización.

Suggested Citation

  • Ricardo Chica & Oscar Guevara & Diana López & Daniel Osorio, 2012. "Growth determinants in Latin America and East Asia: has globalization changed the engines of growth?," Coyuntura Económica, Fedesarrollo, June.
    • Handle: RePEc:col:000438:010065
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    More about this item

    Keywords

    Crecimiento económico; Inversión; Ahorros; Exportaciones; Política industrial; Asia Orienta; América Latina.Economic Growth; Investment; Savings; Exports; Industrial Policy; East Asia; Latin America;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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