Jorge Thompson Araujo - Böcker

This timely book addresses the critical issues of rising inequality and jobless economic growth. Presenting cutting edge research on income distribution, growth and labor markets in both developed and developing economies, it emphasizes the importance of considering these factors together rather than in isolation.Chapters are organized into three strongly thematic parts: revisiting theoretical innovations by the Cambridge School, offering new conceptual insights on growth, distribution and employment, and providing empirical analyses using advanced econometric methods. Leading experts discuss the relationship between distribution and growth, exploring key themes such as migration, the employment impact of Covid-19 and prestige clubs. The book further examines policy implications and outlines potential solutions to pressing economic challenges.Students and scholars of development economics, post-Keynesian economics and political economy will greatly benefit from this innovative book. It is also a crucial resource for practitioners and policymakers in the field of economic development.

Latin America and Caribbean countries suffer from large efficiency gaps in technology adoption, innovation, structural change, resource allocation, institutions, and poverty reduction, which hamper their growth to higher income levels.

During the 2000s, the Latin America and the Caribbean region (LAC) saw a decade of growth and income convergence. Its growth performance was also especially pro-poor. Understanding the factors underlying the region’s growth is critical for policy design going forward. This volume reassesses these engines of growth in light of new data and information. To a large extent, the LAC region benefitted from external conditions and policy decisions in the 2000s. However, with the favorable external conditions coming to a close, the determinants of growth that are influenced by policy will need to play a bigger role if the region wants to avoid losing its growth momentum. Using dynamic panel data regressions, this publication investigates how aggregate economic, political, and social variables affect per capita GDP growth rates for a large sample of countries. The research finds that drivers of growth in LAC have shifted over the last decade. Most LAC countries had already brought their macroeconomic house in order throughout the 1990s, which facilitated benefits from other sources of growth. While structural features continued to be robust determinants of growth, for many LAC countries— most notably net commodity exporters—external conditions were an essential driver. This publication also carries out a benchmarking exercise that sheds light on where the greatest return on investment could be for LAC countries in terms of broad policy directions. The empirical findings provide a window into the potential growth-facilitating role that governments can play in the region.

Competition is a core element of economic growth, but empirical evidence on how competition affects productivity in the Latin America and the Caribbean (LAC) region is limited. This study fills this gap with state-of-the-art empirical research, drawing on firm surveys in the formal sector and novel domestic competition enforcement datasets.