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Instituciones y volatilidad del crecimiento económico: una aproximación a América Latina y el Caribe
Institutions and volatility of economic growth: An approach to Latin America and the Caribbean
Instituições e volatilidade do crescimento econômico: uma aproximação à América Latina e o Caribe
DOI:
https://doi.org/10.15446/cuad.econ.v38n76.59913Palabras clave:
Instituciones, Calidad Institucional, Volatilidad, Crecimiento Económico, América Latina y el Caribe. (es)Institutions, institutional quality, volatility, economic growth, Latin America and the Caribbean. (en)
Instituições, qualidade institucional, volatilidade, crescimento econômico, América Latina e o Caribe. (pt)
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The aim of this paper is to provide an institutional explanation for the sharp volatility of economic growth in Latin America and the Caribbean, given its persistence over time and the dramatic consequences in terms of poverty for the region. The
contribution is to conduct the first analysis of 28 countries during 2002-2010, using a static model of cross section by two-stage least squares. The results support the substantial impact of institutions on reducing volatility, primarily political in nature,
and provide evidence of the need for use of sampling criteria homogenization.
O objetivo de este trabalho é oferecer uma explicação institucional à acentuada volatilidade do crescimento econômico da América Latina e o Caribe, devido a sua persistência no tempo e as consequências dramáticas em termos de pobreza
para a região. A contribuição consiste em realizar a primeira análise para 28 países durante 2002-2010, por meio de um modelo estático de corte transversal por mínimos quadrados em duas etapas. Os resultados alavancam o impacto substancial das instituições na redução da volatilidade, fundamentalmente as de natureza política, e oferecem indícios da necessidade de utilização de critérios de homogeneização de amostragem.
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