Cole, Harold L.; Ohanian, Lee E.; Riascos, Alvaro; … - 2021
States. This paper evaluates why Latin America has not replicated Western economic success. We find that this failure is … primarily due to TFP differences. Latin America's TFP gap is not plausibly accounted for by human capital differences, but … Latin TFP. We document that Latin America has many more international and domestic competitive barriers than do Western and …