Chapter

When Did Latin America Fall Behind?

Leandro Prados de la Escosura

in The Decline of Latin American Economies

Published by University of Chicago Press

Published in print August 2007 | ISBN: 9780226185002
Published online February 2013 | e-ISBN: 9780226185033 | DOI: http://dx.doi.org/10.7208/chicago/9780226185033.003.0002
When Did Latin America Fall Behind?

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This chapter reexamines the timing of Latin America's economic retardation—first, by using a more representative comparator, such as a group of countries included under the OECD acronym, and second, by resorting to the tools employed in the inequality literature. Among the main findings of the chapter that can be highlighted are that, contrary to widespread belief, it was during the late twentieth century that Latin America fell behind more dramatically. A long-term rise in real average per capita income inequality is found for a large sample of countries encompassing most of Europe, the Americas, and Oceania. The rise in intercountry inequality resulted from the widening gap between the OECD countries (Australia, Canada, New Zealand, United States, Japan) and Latin America, as opposed to the reduction in income differences within each of these country groups. As a result, polarization emerged.

Keywords: Latin America; economic retardation; inequality; per capita income; OECD countries; Australia; Canada; New Zealand; United States; Japan

Chapter.  14106 words.  Illustrated.

Subjects: International Economics

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