This paper presents an analysis of the evolution of the competitiveness in the traded goods sectors in six Latin American countries. Argentina, Bolivia, Chile, Paraguay, and Uruguay. Results for Brazil are ambiguous.

"The macroeconomic experience of emerging and developing economies has tended to be quite different from that of industrial countries. Compared to industrial countries, emerging and developing economies have tended to be much more unstable, with more severe boom/bust cycles, episodes of high...