Estimated Country Effects, (Ai Relative to Lowest)

Yit = Kitα (Ai Lit )

(1-α)

Source: Nazrui Islam, Growth Empirics, QJE 11/95 Latin American Countries

• Argentina 7.1

• Brazil 11.6

• Chile 6.2

• Mexico 13.4

• Venezuela 16.2

• Colombia 6.5

• Peru 10.5

• Ecuador 9.1

• Costa Rica 10.5

• El Salvador 6.8

• Honduras 3.5

• Nicaragua 8.3

Other Countries• USA 27.5

• Hong Kong 38.5

• South Korea 10.0

• Japan 21.6

• India 2.0

• Germany 18.3

• United Kingdom 23.8

• Italy 16.2

• Israel 17.0

• Ivory Coast 4.7

• Kenya 2.0

• Somalia 1.0