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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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Promotion policies for services offshoring : Global analysis and lessons for Latin America

Public policies play a key role in enhancing the conditions for attracting investment and boosting services exports, and especially when the aim is to upgrade within global value chains in service sectors and to foster the generation of spillovers and linkages. These policies include not only incentives or regulatory instruments specific to these sectors, but also more general measures related to education, science and technology, financing and infrastructure. The objective of this chapter is to present and discuss the main mechanisms used worldwide to promote the development of the offshore services industry and to draw a series of lessons and recommendations for Latin American countries.

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