On The Latin American Growth Paradox: A Hindsight Into The Golden Age
In 1950, Latin American countries' capabilities were promising, and the subcontinent was thought to have a big potential for convergence. In order to understand why this prediction was not fulfilled, the authors apply in this paper the framework set by Fagerberg and Srholec (2008(24)). The paper of the economic evolution of Latin America during the Golden Age (1950-1975) is based on historical data on economic, political and social variables from 18 countries. They use a factor analysis to classify the 20 indicators into five dimensions: the level of "Industrialization", "Human capital", the "Macroeconomic fundamentals", "Politics" and "Religion".