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Primary Commodities as an Engine for Export Growth of Latin America

In: The Balance between Industry and Agriculture in Economic Development

Author

Listed:
  • Montague J. Lord

    (Inter-American Development Bank)

Abstract

There are three important features of the overall long-term growth of commodity exports from Latin America: (a) the growth rate of commodity exports from this region has been substantially higher than that of other developing regions; (b) commodity exports from the industrialised countries have increased at a substantially higher rate than exports of the same type of goods from Latin America; and (c) exports of manufactured goods from the industrialised countries have expanded at a much faster rate than have commodity exports from Latin America. The objective of this study is to examine the potential for Latin America to reduce or eliminate the disparity between its export growth rate and that of the industrialised countries. The approach is applicable to other developing regions or countries outside Latin America. The possibility of lowering the disparity in growth rates for these regions or countries would also depend upon the particular characteristics confronting the supply and demand for these exports.

Suggested Citation

  • Montague J. Lord, 1989. "Primary Commodities as an Engine for Export Growth of Latin America," International Economic Association Series, in: Nurul Islam (ed.), The Balance between Industry and Agriculture in Economic Development, chapter 6, pages 129-145, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-10277-8_6
    DOI: 10.1007/978-1-349-10277-8_6
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