Dissecting Economic Growth in Uruguay

ByNatasha X Che

January 8, 2021

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Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Uruguay experienced one of its biggest economic booms in history during 2004-2014. Since then, growth has come down significantly. The paper investigates the various causes of the boom and discusses the sustainability of these causes. It then compares Uruguay against high-growth countries that were once at a similar income level, across a broad set of structural indicators, to identify priority reform areas that could improve long-term growth prospect.

Subject: Commodity prices, Exchange rates, Exports, Real exchange rates, Total factor productivity

Keywords: commodity price boom, convergence record, economic growth, economy of Uruguay, income convergence, soybean export, sustainable growth, terms of trade, Uruguay, Uruguay economy, WP

Pages:
38
Volume:
2021
DOI:
https://doi.org/10.5089/9781513564708.001
Issue:
002
Series:
Working Paper No. 2021/002
Stock No:
WPIEA2021002
ISBN:
9781513564708
ISSN:
1018-5941

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