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- Title
Misión Kemmerer: su impacto sobre el desempeño económico a corto y mediano plazo en los países de Latinoamérica.
- Authors
Lasso-Jaramillo, Daniel; Pinilla-Alarcón, Diana; Caicedo-Silva, Sara
- Abstract
This article analyzes the effect of Kemmerer's financial advice on the economic performance of some Latin American countries during the first half of the 20th century in the short and medium term. To do this, it explores the temporal variation of the Kemmerer Mission in these countries by applying an event study methodology in order to quantify its effect on the real GDP per capita. It was found that, on average, there is no solid statistical evidence to confirm that the mission alone affected the GDP in the short and medium term. However, by recognizing its heterogeneous effects, it was possible to identify that, in Colombia and Peru, the Kemmerer Mission is associated with an aggregate increase of USD 224 and USD 460 (respectively) from 2011 in the real GDP per capita for the study period. On the contrary, in Chile, there was a reduction of USD 361.7 from 2011 during the period 1931-1940. This is because, for the former, the recommendations offered them access to investment and credit; while, for the latter, they were able to stifle the economy during the Great Depression.
- Subjects
GREAT Depression, 1929-1939; ECONOMIC indicators; ECONOMIC development; ECONOMIC history; TWENTIETH century
- Publication
Tiempo y Economía, 2023, Vol 10, Issue 2, p1
- ISSN
2422-2704
- Publication type
Article
- DOI
10.21789/24222704.2041