We may notice that Chile had a value of real Gross Domestic Product (GDP) per capita close to Spain for the period 1955-1960 and that Brazil had a value close to Chile for the period 1975-1990.
Thanks to a higher level of industrialization, and other factors, Spain experienced a high increase of real GDP per inhabitant for the periods 1960-1975, 1985-1991, 1992.2007 with decrease and recovery for 2007-2021, and Chile for the period 1990-2018. China also experienced an important increase of industrialization and development since year 1990. reaching and surpassing Brazil by the period 2015-2021.
Accordingly to this study the level of industrialization has shown low incrase in many Latin American countries, while China and the World average have experienced a higher increase. While in 1950 the average of Manufacturing production per capta in Latin America was higher than the World average, in year 2000 both values were very alike and in year 2021 the World average was higher than the average of 8 Latin American countries.
More information at the Entries 48 and 50 of this Blog and at the following article in English, free downloadable at Ideas.Repec and at Dialnet, and in our Blog on Latin America and Intrnational Development in Spanish:
Article in English: Guisan, Maria-Carmen (2023). Economic Development in 8 Latin American Countries: Argentina, Brazil, Chile, Colombia, Cuba, Mexico, Peru and Venezuela. Applied Econometrics and Interntional Development Vol. 23-1.
Blog in Spanish on Latin America and International Development:
