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Latin America's Emergence in Global Services

A New Driver of Structural Change in the Region?

image of Latin America's Emergence in Global Services
Business services have been one of the fastest growing export areas in emerging economies over the past decade. The spread of information and communication technologies and the rise in trade liberalization have facilitated the global unbundling and offshoring of services activities from advanced to developing countries, including those in Latin America. The empirical and analytical insights in this volume document how several countries in Latin America have entered the offshore services sector both through the attraction of multinational companies and the internationalization of domestic service suppliers. The future of the offshore services sector in Latin America will depend on its ability to upgrade its knowledge - and skill-intensive product offerings. This will call for the development of domestic technical capabilities, the adoption of renewed industrial policies, the promotion of backward and forward linkages, and the continued upgrading of human capital and information technology-integrated manufacturing.

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Information technology enabled services in Chile: A new export niche?

Over the last decade, Chilean exports have become more concentrated in raw and semi-processed copper and a few other natural resources. This trend was a reversal pattern observed through 2003, when the country increased the number of goods and services exported and incorporated new enterprises into the exporting process. From 2003 onwards, however, exports become less diversified as the price of copper, salmon and other commodity export products rose steeply. This caused Chile’s external revenues to be increasingly sensitive to international price fluctuation of these products. Moreover, the reduction of export diversification may have negative effects on technological spillovers, productivity growth, employment creation, the participation of small and medium-sized enterprises in exports, income distribution and poverty.

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