Institutional quality and total factor productivity in Latin America and the Caribbean : exploring the unobservable through factor analysis
dc.audience | Policymakers | eng |
dc.audience | Researchers | eng |
dc.audience | Students | eng |
dc.audience | Teachers | eng |
dc.coverage.sucursal | Bogotá | eng |
dc.creator | Quijada, Alejandro | eng |
dc.date.accessioned | 2007-01-01T08:30:10Z | eng |
dc.date.available | 2007-01-01T08:30:10Z | eng |
dc.date.created | 2007-01-01 | eng |
dc.date.issued | 2007-01 | eng |
dc.description | Este documento determina hasta qué punto variaciones a corto plazo en la productividad total de los factores (PTF) en Latinoamérica, se ven influenciadas por cambios de calidad institucional. Primero, se emplean herramientas estadísticas provenientes del análisis factorial para extraer, de un grupo de indicadores observables, un conjunto de factores inobservables, los cuales se asocian con la PTF y con la calidad institucional; luego, se estima, empleando métodos panel, la relación entre la productividad agregada y los elementos subyacentes de la calidad institucional. Los resultados indican que las libertades económicas están relacionadas positivamente con la PTF. | eng |
dc.description.abstract | This document determines, for a sample of Latin American countries, to what extent short-term variations in total factor productivity (TFP) are influenced by changes in institutional quality. Our empirical strategy is two-folded. First, we use statistical tools borrowed from factor analysis to extract from observable outcome indicators, unobservable common factors associated to TFP and institutional quality. Second, panel estimations are performed, linking the latent elements of aggregate factor productivity to the underlying common factors of institutional quality. Results are appealing: economic liberty is positively related to short-term total factor productivity. | eng |
dc.format.extent | 55 páginas : gráficas, tablas | eng |
dc.format.mimetype | eng | |
dc.identifier.handle | https://hdl.handle.net/20.500.12134/6362 | spa |
dc.identifier.uri | https://repositorio.banrep.gov.co/handle/20.500.12134/6362 | |
dc.language.iso | eng | eng |
dc.publisher | Banco de la República de colombia | eng |
dc.relation.doi | https://doi.org/10.32468/Espe.5302 | spa |
dc.relation.dotec | https://ideas.repec.org/a/col/000107/004632.html | spa |
dc.relation.ispartof | Artículos de revista | eng |
dc.relation.ispartofseries | Revista Ensayos Sobre Política Económica | eng |
dc.relation.issn | 0120-4483 | eng |
dc.relation.isversionof | Revista Ensayos Sobre Política Económica; Vol. 25. No. 53. Enero, 2007. Pág.: 66-119. | eng |
dc.relation.repec | https://ideas.repec.org/a/bdr/ensayo/v25y2007i53p66-119.html | spa |
dc.rights.accessRights | Open Access | eng |
dc.rights.cc | Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0 | eng |
dc.rights.spa | Acceso abierto | spa |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/ | eng |
dc.source.bibliographicCitation | Acemoglu, D.; Johnson, S.; Robinson, J. “The Colonial Origins of Comparative Development: An Empirical Investigation”, American Economic Review, no. 91, pp. 1369-1401, 2001. | eng |
dc.source.bibliographicCitation | Ahmed, S. “Sources of Economic Fluctuations in Latin America and Implications for Choice of Exchange Rate Regimes”, Journal of Development Economics, no. 72, pp. 181-202, 2003. | eng |
dc.source.bibliographicCitation | Alesina, A.; Özler, S.; Roubini, N.; Swagel, P. “Political Stability and Economic Growth”, Journal of Economic Growth, vol. 1, no. 2, pp. 189-211, 1996. | eng |
dc.source.handleRepec | RePEc:col:000107:004632 | spa |
dc.subject | Productividad total de los factores | eng |
dc.subject | Análisis factorial | eng |
dc.subject | Latinoamérica | eng |
dc.subject.jel | C33 - Multiple/Simultaneous Equation Models; Multiple Variables: Panel Data Models; Spatio-temporal Models | eng |
dc.subject.jel | O47 - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence | eng |
dc.subject.jel | O54 - Economywide Country Studies: Latin America; Caribbean | eng |
dc.subject.jelspa | C33 - Modelos de ecuaciones múltiples/simultáneas; Variables múltiples: Modelos con datos de panel; Modelos espacio-temporales | eng |
dc.subject.jelspa | O47 - estudios empíricos del crecimiento económico; Productividad agregada; Convergencia | spa |
dc.subject.jelspa | O54 - Estudios económicos globales de países: América Latina; Caribe | eng |
dc.subject.keyword | Institutions | eng |
dc.subject.keyword | Total factor productivity | eng |
dc.subject.keyword | Factor analysis | eng |
dc.subject.keyword | Latin America | eng |
dc.subject.lemb | Economía institucional -- América Latina | eng |
dc.subject.lemb | Economía institucional -- Caribe (Región) | eng |
dc.subject.lemb | Productividad -- América Latina | eng |
dc.subject.lemb | Productividad -- Caribe (Región) | eng |
dc.subject.lemb | Crecimiento económico -- América Latina | eng |
dc.subject.lemb | Crecimiento económico -- Caribe (Región) | eng |
dc.subject.lemb | Productividad total de los factores -- América Latina | eng |
dc.subject.lemb | Productividad total de los factores -- Caribe (Región) | eng |
dc.title | Institutional quality and total factor productivity in Latin America and the Caribbean : exploring the unobservable through factor analysis | eng |
dc.title.alternative | Calidad institucional y productividad total de los factores en América Latina y el Caribe : explorando lo inobservable mediante análisis factorial | eng |
dc.type | Article | eng |
dc.type.hasversion | Published Version | eng |
dc.type.spa | Artículo | eng |
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