## Dissecting Economic Growth in Uruguay

_IMF Working Papers, January 8, 2021_

## Source details

**Canonical URL:** [Dissecting Economic Growth in Uruguay](https://www.imf.org/en/publications/wp/issues/2021/01/08/dissecting-economic-growth-in-uruguay-49968)

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## Bibliographic details
- Authors: Natasha X Che
- Published: January 8, 2021
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781513564708.001

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### 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.
- The paper 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 prospects.

### Major themes and analytical focus
- Causes of the 2004-2014 boom:
  - Analysis of drivers behind Uruguay’s large expansion during 2004-2014.
- Sustainability assessment:
  - Evaluation of whether the boom’s drivers are sustainable going forward.
- Cross-country comparison:
  - Comparison of Uruguay with high-growth countries that started at similar income levels.
  - Use of a broad set of structural indicators to identify gaps and reform priorities.

### Key subjects and keywords
- 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

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- **Working Paper**
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_Source: https://www.imf.org/en/publications/wp/issues/2021/01/08/dissecting-economic-growth-in-uruguay-49968_