NDLI: Latin American macroeconomic outlook

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Latin American macroeconomic outlook

Content Provider	OECD iLibrary
Organization	OECD
Abstract	Latin America has moved away from the high rates of economic growth seen during the 2000s and towards more moderate rates of a range of 1.5-3%. Clearly it is good news that the region was able to deal with deteriorating external conditions without experiencing any crises. However, continuous downward revisions to mediumterm growth projections could be a symptom of potential output growth being less robust than expected, which could present a risk to recent social achievements. This chapter assesses Latin America’s growth prospects in a more challenging international environment and explores how vulnerable the region is to further blows to the international environment in the short term. It also analyses the historical impact of resource booms (from commodities and capital flows) on the trend and cyclical components of economic performance. The chapter ends with some proposals on economic policy in the short term, and especially in the long term. The region must take ambitious strides to raise productivity and continue to bring down inequality and poverty. To do so, it must improve the skills of current and future workers through traditional education and technical and vocational education and training, a subject that ties in with the rest of this report.
Page Count	32
Starting Page	29
Ending Page	60
Language	English
Publisher	OECD Publishing
Publisher Date	2014-12-09
Access Restriction	Open
Subject Keyword	Development
Content Type	Text
Resource Type	Chapter

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