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.




Labour institutions have been the subject of an intense economic-policy debate —one characterized by a high ideological content that, particularly from the 1990s, gave rise to strong positions in favour of a series of reforms aimed at making labour markets as deregulated and flexible as possible. However, amidst low growth and uneven productivity in Latin American and Caribbean economies, the reforms did not have the expected impact on labour markets. Disappointment over the broken promises of flexibility reforms has intensified questioning about the efficiency of relatively unregulated labour markets and has resulted in proposals on labour-market regulation that have become rather more cautious in recent years (Freeman, 2005).


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