Economic Performance in the Americas

Economic Performance in the Americas compares the economic performances of Brazil, Mexico and the USA over the past half century. As with most other high and middle-income countries their economies are service-sector orientated and have been for several decades. This book encompasses all sectors of the economy but focuses primarily on services, analysing both the main trends in the various service industries in Brazil and Mexico and the underlying forces shaping their huge expansion. The growth of services obscures large differences between the two Latin countries and the USA in terms of the types of services that gained importance and the driving growth forces. The author provides a fascinatingly unique and comprehensive overview of the long run development of the entire service sector in the countries discussed. Using new methods for international comparisons of output and productivity in services, Nanno Mulder examines the impact of the increased service sector orientation in the overall economy. Relative to the USA, the Brazilian and Mexican service sectors performed better than agriculture and to a lesser extent, industry. However, this positive contribution hides large discrepancies, with some service industries showing important productivity gains whereas others turned out stagnant. Scholars and analysts of macroeconomics, industrial economics and development economics will warmly welcome this book.