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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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The Colombian outsourcing and offshoring industry: The effects of institutions and agglomeration economies

While the Latin American outsourcing and offshoring industry is largely dominated and overshadowed by Argentina, Brazil and Mexico, and, Colombia is emerging as a major challenger. Global and local companies are expanding their operations to mid-sized cities in the country. There is also some evidence that the Colombian outsourcing industry is slipping into a higher gear and moving towards high-value, data and knowledge based services. In this paper, we examine formal and informal institutions and the factors associated with economies of agglomeration in the Colombian outsourcing and offshoring industry.

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