Economic Survey of Latin America and the Caribbean 2008-2009

Policies for Creating Quality Jobs

image of Economic Survey of Latin America and the Caribbean 2008-2009

This publication comes at a critical point in the economic development of the Latin American and Caribbean region. A growth phase that the region's recent history cannot equal in nature and duration has come to an end and output is contracting. The first part of this edition looks at the channels through which the crisis is affecting the economies of the region and its impact on variables such as economic growth, employment and external-sector indicators. It also discusses the strengths and weaknesses of the countries and concludes with a discussion of the outlook for the second half of the year. The second part discusses policies for creating quality jobs, including challenges and opportunities for labor institutions and labor markets, labor-market policies for youth and women. This CD-ROM also contains the electronic versions of the printed publication. The statistical information reflects data available up to 30 June 2009.




Economic growth in Ecuador stood at 6.5% in 2008, significantly higher than the 2.5% posted in 2007. As in other countries of Latin America and the Caribbean, high prices for export commodities —in this case, crude oil— led to a sharp rise in fiscal revenue in 2007 and the first three quarters of 2008, which allowed the government to finance substantially higher public spending, especially public investment. Economic growth is expected to be only 1% in 2009, however, mainly because of lower oil prices.


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