Economic Survey of Latin America and the Caribbean 2015

Challenges in Boosting the Investment Cycle to Reinvigorate Growth

image of Economic Survey of Latin America and the Caribbean 2015
Published since 1948, this report examines various aspects of the previous year’s macroeconomic situation in the region and makes projections for the coming months. The 2015 edition of this report outlines the region’s economic performance in 2014 and analyses trends in the first half of 2015, as well as the outlook for the rest of the year. It also analyses the dynamics of investment in Latin America and the Caribbean, the relationship between investment and the business cycle, the role of public investment, infrastructure gaps and the challenges in financing private investment.

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Economic infrastructure in Latin America: a persistent challenge for progress towards sustainable development

According to the specialized literature, demand for infrastructure investment correlates in the long run with economic growth and demographic processes (the structure and dynamic of the population). More specifically, economic growth, and particularly per capita income growth, is the variable recognized as the main determinant of infrastructure demand growth. Other factors that may affect the demand for investment include the structure of economic activity, geopolitical factors, security, financing sources and technology. Although it is possible to establish a relationship between infrastructure development and per capita GDP growth or economic and demographic growth, the direction of causality is hard to determine, and a number of studies have suggested that it can work both ways in the short or medium term.

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