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Title: |
Has Inflation Uncertainty Hampered Economic Growth in Latin America? |
| Author: |
Darrat, Ali F.;
Lopez, F. A. |
| Author
Affiliation: |
Louisiana Tech
U; U New Orleans |
| Source: |
International Economic Journal, Summer 1989, v. 3, no. 2, pp. 1-15 |
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Publication Date: |
Summer 1989 |
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Abstract: |
Using time series data, this paper
investigates for a number of Latin American countries the validity of
the Friedman hypothesis that inflation uncertainty inhibits economic
growth. The empirical results are based on the Akaike/Granger-causality
procedure and generated from system estimations. For most of the
countries in the sample, the results do not reject the Friedman
hypothesis. Consequently, the erratic inflationary environment in the
Latin American countries of recent years seems to have played a
significant role in hampering their economic development. |
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