INFRASTRUCTURE, GROWTH AND PRODUCTIVITY: AN ANALYSIS IN DYNAMIC HETEROGENEOUS PANELS
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ABSTRACT
This article presents an empirical analysis of the impact of infrastructure development on growth and productivity, utilizing a heterogeneous dynamic panel comprising 18 countries from Latin America and the Asian Tigers for the period spanning 1980 to 2017. The study primarily focuses on estimating the elasticities of output and productivity concerning infrastructure stock derived from Principal Component Analysis (PCA). The results confirm that the comparatively lower level of infrastructure stock in Latin American countries, in contrast to the Asian Tigers, is associated with reduced productivity and lower economic growth rates within the former group of nations.
INFRAESTRUCTURA, CRECIMIENTO Y PRODUCTIVIDAD: UN ANÁLISIS EN PANELES DINÁMICOS HETEROGÉNEOS
RESUMEN
Este artículo presenta un análisis empírico del impacto del desarrollo de infraestructura en el crecimiento económico y la productividad utilizando un panel dinámico heterogéneo para 18 países de América Latina y de Asia para el periodo 1980-2017. Se centra en estimar las elasticidades del producto y la productividad en relación con el stock de infraestructura tomado del Análisis de Componentes Principales (ACP). Los resultados confirman que la menor cantidad de infraestructura de los países latinoamericanos respecto a los llamados Tigres Asiáticos está asociado con una menor productividad y menores tasas de crecimiento económico para el primer grupo de países.
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