Latin America and the ‘high performing Asian economies’: growth and debt

✍ Scribed by John Weeks

• Book ID: 101354664
• Publisher: John Wiley and Sons
• Year: 2000
• Tongue: English
• Weight: 297 KB
• Volume: 12
• Category: Article
• ISSN: 0954-1748
• DOI: 10.1002/1099-1328(200007)12:5<625::aid-jid652>3.0.co;2-o

✦ Synopsis

Prior to the Asian ®nancial crisis, it was accepted wisdom to compare the growth of Latin America unfavourably to that of a selection of East and Southeast Asian countries (the so-called high performing Asian economies). This paper presents statistics that indicate that the dierences in performance may have been less than as commonly presented. A modi®ed Harrod±Domar model is applied to the Latin American countries, and the results suggest that a major determinant of slower growth in Latin America was the debt service burden.