Abstract
Prior to the Asian financial crisis, it was accepted wisdom to compare the growth of Latin America unfavourably to that of a selection of East and Southeast Asian countries (the so-called high performing Asian economies). This paper presents statistics that indicate that the differences in performance may have been less than as commonly presented. A modified Harrod–Domar model is applied to the Latin American countries, and the results suggest that a major determinant of slower growth in Latin America was the debt service burden. Copyright © 2000 John Wiley & Sons, Ltd.
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