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7
revista de ciencia pOLítica / vOLumen 28 / nº 1 / 2008 / 7 – 33
E
l
 
augE
 
Económico
 
latinoamEricano
The Latin American Economic Boom
 JOSÉ ANTONIO OCAMPO
Universidad de Columbia
ReSuMeN
e yo g q l g loo    og 
l o   boz  o    (á  oo
o q gíol) o oo  fo xo xol.
s h fljo   ó l o xo y  ló 
 ol, o o   fl, y h fozo l lz
ol  l gó  xoo b  o l. Jo o
l o o  l of lbol, h flo l o  l  
oó y l fó  lo bfo l g   ojo á lo  lobló, o o h logo  l oo lo  l l  loo  bjo.
Palabras clavs:
co oóo,  , fo xo,olí oó, lo, obz.
 AbstrAct 
This paper argues that the recent Latin American boom is the joint effect of the commodity price boom (primarily of mineral rather than agricultural goods) and exceptional external
 financial conditions. It has been reflected in a reduction in foreign indebtedness and
increased international reserves, but not in fiscal austerity, and has reinforced the traditional
specialization of the region in natural resource-based exports. Together with a slower growthof the workforce, it has generated a rapid increase in the employment rate and the diffusionof the benefits of the boom to a broader segment of the population, but it has not reversed theaccumulated deterioration in job quality.
 Keywords:
Economic growth, raw materials, external financing, economic policy, employment,
 poverty.
I. INTRODuCCIóN
aé L ol  2007 l o ño oo  áo ooo (cepaL, 2007). L oj   b o  x  l o o l  l oo   ogáf h go o  l o o hb y áo y  o lo  l  o. eo  h o,   z,   f   l obz,oñ    jo  l b l go. L oy ho bé lgo bo  l   h ol o, qh fozo l lz ol  l yo   loo   y/o f o  lo o l. el y fobl
 
 JOsÉ antOniO OcampO
8o ol q o l g h bo,  bgo,  go, o lo ll oo o á  h l.
e yo     ojo l g   l oo lo.
eá o   o, l   l l   io. L oii y iii lz lo o  o oo y l fo  l xoo. L o iv y v fo   ob lo fo xo qh obo l g y lo bo  l jo ooo. L vi olo fo ol y l úl  l olo. el ál b  gl lojo  lo  loo, o  lg o o l  l  oo  yo ño.
II. LA MAGNITuD DeL AuGe
el Gáfo 1  l lo loo  lo ño . coo  , l g   l á áo  l q x l g  f  loño  y ozo  lo . coo,  bgo, l o  l obl h lo gf  o, l x  l o ohb h o lg o: 4.1 o o l  lo o úlo ñoo 3.9 o o  l boz  1967-1974. coo, á, l o ooá g  l g, Bl y méxo, h o  o ho á oo lo úlo ño q o, l oo l l o  lo z y oho lo  lo állo oo ,  l, lg o l 1967-1974 y l  l o o hb o.Gáfo 1: t l o oo  aé L
0,0%1,0%
2,0%
3,0%4,0%5,0%6,0%7,0%
1950-1957 1958-1967 1967-1974 1974-1980 1980-1990 1990-1997 1997-2003 2003-2007
América LatinaPromedio simple
F: eo l o o b     c nol  l cepaL.
 
eL auGe ecOnómicO LatinOamericanO
9L  h o   gl obl, f á o o l hoo ol (Gáfo 2). el l lzo  2007  l l fl lg  1967-1974 y o  lj gf  l  h á l, lz l go lo  lo ño . coo, á, l   lo ño o o o l oo á g, l oo l  l    lo o    lg o   lo éoho o. d hho,  o obl g o l bj    Bl  l o  o ho,  hho q y l  ol   aé L.e y fl b ál o lo l   o   o o oo oo lo lzo  lo úlo ño. algo oo  l h o  o lo (o  l o l ) y l   f f, l  o, oy l, lo l bé l lo l o  . s bgo, l g l     2007 o á qzá y   lo lo   l   o lz  lo úlo ño, lo o oo  (Bl   l o á o). L yo zo,  l,  l l bl q h oo l    l úl é  f l lo oo, q     fo ágl, q lzé o o  l o g: lo fo  lolo fo go q z  oo lblz y,  o o,j  f hoq xo.Gáfo 2: t    aé L ( o  2000)
14,0%16,0%18,0%20,0%22,0%24,0%26,0%
    1    9     5    0    1    9     5    4    1    9     5    8    1    9    6    2    1    9    6    6    1    9     7    0    1    9     7    4    1    9     7    8    1    9    8    2    1    9    8    6    1    9    9    0    1    9    9    4    1    9    9    8    2    0    0    2    2    0    0    6
F: eo l o o b     c nol  l cepaL.
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