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CEPAL Review

Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of economic reform and transfer of technology. Written in English and Spanish (Revista de la Cepal), each tri-annual issue offers approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.

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Global economic crises, environmental-resource scarcity and wealth concentration

Three new structural factors underlie the most recent global crisis: (i) the fact that several high-population countries have joined the growth process; (ii) the increasing scarcity of environmental and certain natural resources; and (iii) the extraordinary concentration of income and wealth that has occurred in the advanced economies over the last two decades. These structural changes have significantly strengthened the links between global growth and commodity demand; they have made world commodity supply increasingly inelastic, and have rendered economic growth more dependent on easy monetary and financial policies. The combination of these factors could make the world economy highly crisis-prone and may hinder recovery from the current one.

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