Economic Survey of Latin America and the Caribbean 2013

Three Decades of Uneven and Unstable Growth

image of Economic Survey of Latin America and the Caribbean 2013
The Economic Survey of Latin America and the Caribbean 2013 analyses the policies required to improve the perspectives of sustainable regional growth. It reviews the links between economic growth, investment and employment, as well as the fiscal and monetary policies, industrial, trade and social policies relevant for short and long-term growth. Special attention is given to regional key issues such as its structural heterogeneity, its high levels of inequality and the challenges of environmental sustainability. Additionally, the region’s economic evolution during the first semester of 2013 is analyzed in this survey.

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Growth in Latin America and the Caribbean between 1980 and 2012: Stylized facts

This chapter gives an account of the main stylized facts regarding growth and inequality over the past three decades (1980-2012) in Latin America and the Caribbean. Dramatic changes have occurred in policies, institutions and economic and social performance over this period. The changing patterns of GDP and inequality are examined, contrasting the more favourable performance over the past decade with that of the two before, and changes in the way external constraints or variables have shaped growth are analysed. Attention is given, as well, to the region’s inadequate capital formation and sources of financing, especially public and private domestic saving, again with an emphasis on developments over the past decade. Next, progress in reducing inflation and strengthening the fiscal accounts is reviewed, along with the main changes in the way the region’s economies engage with the global economy, through trade, remittances, finance and investment.

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