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.

English Spanish

Saving and investment under external and fiscal constraints

In this article the author examines recent trends in the coefficient of domestic saving —or the unconsumed portion of the product— in the region. He shows how it has stagnated in relation to the saving prevalent before the external debt crisis, despite the sharp decline in per capita consumption. In other words, consumption and the product have fallen in a parallel fashion. Thus austerity has been useless in raising the coefficient of saving, which would have kept the turnaround produced by the net transfer of resources abroad —which must be financed with domestic saving— from in turn resulting in a total loss of available financing for investment.

English Spanish

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