Vitor Bernard de Souza Santos , Mauricio Vaz Lobo Bittencourt
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Revisiting the economic growth on Latin American and Caribbean Countries: The role of trade and democracy
Latin American and Caribbean countries have had a singular path of growth throughout their history. This paper aimed to analyze the economic growth in Latin America and the Caribbean (LAC) countries, setting the focus on the politics and trade outcomes. Working with a dynamic panel of biannual growth from 1981 to 2018 for nineteen countries, we apply the System Generalized Method of Moments (SYS-GMM), allowing to some covariates to be endogenous to the growth process. We do not observe income convergence in LAC countries, as well as any effect of being a democracy on growth. We found a positive and significant effect of trade measures on growth. We perform a series of alternative specifications and our main results do not change.
期刊介绍：
Established in 1947, Research in Economics is one of the oldest general-interest economics journals in the world and the main one among those based in Italy. The purpose of the journal is to select original theoretical and empirical articles that will have high impact on the debate in the social sciences; since 1947, it has published important research contributions on a wide range of topics. A summary of our editorial policy is this: the editors make a preliminary assessment of whether the results of a paper, if correct, are worth publishing. If so one of the associate editors reviews the paper: from the reviewer we expect to learn if the paper is understandable and coherent and - within reasonable bounds - the results are correct. We believe that long lags in publication and multiple demands for revision simply slow scientific progress. Our goal is to provide you a definitive answer within one month of submission. We give the editors one week to judge the overall contribution and if acceptable send your paper to an associate editor. We expect the associate editor to provide a more detailed evaluation within three weeks so that the editors can make a final decision before the month expires. In the (rare) case of a revision we allow four months and in the case of conditional acceptance we allow two months to submit the final version. In both cases we expect a cover letter explaining how you met the requirements. For conditional acceptance the editors will verify that the requirements were met. In the case of revision the original associate editor will do so. If the revision cannot be at least conditionally accepted it is rejected: there is no second revision.
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