Graph 3 presents a comparison of 3 Latin American countries (México, Colombia and Peru) with China for the period 1950-2023.
We may notice that real Gross Domestic Product (GDP) per capita was much higher in these Latin American countries than in China for the period 1950-1980. After 1980 the increase of industrialization in China started to diminish the gap of GDP per capita with some Latin American countries and in the period 2015-2021 surpassed the values of Peru and Colombia and almost reached the value of Mexico in year 2021.
The graph shows an important increase of real GDP per capita in Mexico for the period 1950-1980 and a lower increase for 1980-2021. An interesting article by Moreno-Brid and Sanchez(2022), published in the journal RSES Vol. 22-2. highlights the positive impact of the industrialization policies of the period 1950-1980.
More information at the Entries 48 and 49 of this Blog and also at the following article in English, free downloadable at Ideas.Repec and Dialnet and in our Blog on Latin America and International 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:
