Front Matter Page
Western Hemisphere Department
Contents
1 Introduction and Executive Summary
2 Why are some countries richer than others? And why do some poorer countries converge with richer countries while others do not?
2.1 Why are some countries richer than others?
2.2 Convergence, TFP and Returns on Capital
2.3 Central Theses
2.4 Country Samples
I Growth Decomposition of Convergence: The Role of Capital Deepening, TFP and Human Capital
3 A decomposition of differences in GDP levels
3.1 GDP per capita and the capital-labor ratio
3.2 GDP per capita and the capital-output ratio
4 A Decomposition of GDP and GDP per Capita Growth Rates
4.1 GDP growth
4.2 GDP per capita growth and the capital-labor ratio
4.3 GDP per capita growth and the capital-output ratio
5 TFP: the link with Institutions and Human Capital
5.1 Institutions and TFP
5.2 Human Capital and TFP
5.3 Human Capital, Institutions and TFP
II What Explains Convergence?
6 Income Levels, Institutions and Human Capital
6.1 Indicators of Institutional Strength, Competitiveness, Human Capital and GDP per Capita
6.2 Disentangling the importance of the various factors
7 Convergence: The Role of Changes in Fundamentals
7.1 Conditional convergence with Initial Income Levels and Fundamentals
7.2 Conditional convergence with Initial Income Gap and Change in Fundamentals
III Why has Latin America not converged like CESEE?
8 Explaining the differences in convergence between Latin America and CESEE
8.1 Why has CESEE converged rapidly?
8.2 Why has Latin America not converged?
9 Is low investment in Latin America endogenous?
9.1 Why faster TFP and population growth leads to higher investment: Theory
10 Conclusion
Bibliography
A Countries included
B Data Sources