THE W-ARTHUR-LEWIS-LECTURE - FUTURE SUSTAINABLE LATIN-AMERICAN GROWTH- A NEED FOR SAVINGS

This article, starting from the Lewis emphasis upon increasing product ivity, analyzes the external and internal sources of disequilibrium in Latin America over the last two decades. It indicates the impressive progress, and continuing requirements, that have been made in both dim ensions over the last fifteen years. The real requirement for continue d growth at high rates, emphasized by Lewis more than 45 years ago, is , however, increased rates of internal saving. Until the Latin America n countries are able successfully to increase their domestic savings, hopes for sustained expansion will be continuingly frustrated.