The role of the real exchange rate and investment in export diversification in Latin America and the Caribbean

The region’s unsatisfactory export performance has long been a central theme of ECLAC documents. The Commission’s analysis indicates that the lack of buoyancy and high volatility of the region’s export earnings are linked to its export structure’s excessive concentration in a small number of natural-resource-intensive products entailing a low level of processing. This analysis has led to the recommendation that the region should diversify its exports with a view to achieving a higher value-added structure with greater technological content. Such a structure would enable the region to sell more dynamic products on the international market, which would in turn reduce the volatility of export earnings and have a greater impact on GDP growth and employment.

Related Subject(s): Economic and Social Development
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