Towards transformation of the growth and development strategy for Latin America and the Caribbean: The role of productive development policies

Latin America and the Caribbean have a structural low-growth problem, which is explained largely by the fact that productivity has not increased, and has even declined, in recent decades. Although productivity growth will require continuous development of a medium- and long-term agenda aimed at improving “fundamentals”, this article proposes a new complementary strategy for growth, transformation of the production structure and employment for the region, based on a deepening of its productive development policies and improving their implementation. To this end, six guidelines are proposed that include governance, among other elements; and special emphasis is placed on the “how”, in other words how to successfully implement policies of this type.