2010
DOI: 10.1016/j.jmoneco.2009.12.004
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Import substitution and economic growth

Abstract: In spite of Latin America's dismal economic performance between the 1950s and 1980s, the region experienced strong capital deepening. Furthermore, productivity (measured as TFP) grew at low rates in comparison with the U.S. In this paper, we suggest that all these facts can be explained as a consequence of the restrictive trade regime adopted at that time. Our analytical framework is based on a dynamic Heckscher-Ohlin model, with scale economies in the capitalintensive sector. We assume an economy that is init… Show more

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Cited by 33 publications
(48 citation statements)
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References 29 publications
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“…To solve the payment matrix, the authors proposed to calculate the optimal investment strategy by the criteria of the maximum expected gain [11]. To obtain more reliable information on the adoption of a rational managerial decision, it is necessary to conduct an inspection according to classical criteria (Bayesa, Laplace, Sauvage criterion) [12] and derived criteria (Hodge-Lehmann) [13]. According to the calculated values, you should choose the strategy that will match the values of the criteria.…”
Section: Research Basementioning
confidence: 99%
“…To solve the payment matrix, the authors proposed to calculate the optimal investment strategy by the criteria of the maximum expected gain [11]. To obtain more reliable information on the adoption of a rational managerial decision, it is necessary to conduct an inspection according to classical criteria (Bayesa, Laplace, Sauvage criterion) [12] and derived criteria (Hodge-Lehmann) [13]. According to the calculated values, you should choose the strategy that will match the values of the criteria.…”
Section: Research Basementioning
confidence: 99%
“…The limit of this relations with∆K→0 is the expression ∂y/∂K. Similarly, the marginal product of labor [18].…”
Section: Advances In Economics Business and Management Research Volmentioning
confidence: 99%
“…Entre ellos se encuentran las contribuciones de De Gregorio (1992Gregorio ( , 2007 y De Gregorio y Lee (1999), así como Bittencourt (2012), entre otros. Por último, una cuarta categoría de trabajos destacan el rol negativo que han tenido las estrategias de desarrollo hacia adentro y sin reformas económicas que tiendan a removerlas como De Gregorio y Lee (1999), Hopenhayn y Neumeyer (2004), y Rodrigues (2010). En este sentido, Dabús, González y Bermúdez (2012, p. 4…”
Section: Revisión De La Literaturaunclassified