Autori
Bianchi, Carlos
Isabella, Fernando
Picasso, Santiago

Titolo
Growth slowdowns at middle income levels: Identifying mechanisms of external constraints
Periodico
Metroeconomica
Anno: 2023 - Volume: 74 - Fascicolo: 2 - Pagina iniziale: 288 - Pagina finale: 305

This paper provides evidence that external constraints determine growth slowdowns in middle-income countries. Econometric models corroborate a positive and significant relation between export margin and the growth of GDPpc for those countries that have remained between middle-income thresholds for at least 30 years, but not for others. While advanced economies have sustained their growth through permanent increases in productivity and the quality of products, many middle-income countries, most of them from Latin America, remain dependent on external prices for growth. Our results shed new light on old development challenges for developing countries.



SICI: 0026-1386(2023)74:2<288:GSAMIL>2.0.ZU;2-B

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