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This year’s Latin American Economic Outlook focuses on those in the middle of the income distribution in Latin America. If these middle sectors have stable employment and reasonably robust incomes, then, arguably, they provide a solid foundation for economic progress. Moreover, following the political role often attributed to the middle classes by historians and sociologists, they might also support moderate but progressive political platforms in Latin America’s democracies. In fact, this report shows that, contrary to expectations, in Latin America this group is still economically vulnerable, few have university degrees and many work in informal employment. This is a “middle class” quite different from the group that became the engine of development in many OECD countries. In Latin America, what are the economic characteristics of these vulnerable middle sectors? How do they perceive inequality, public policies and democracy? How can public policies protect the livelihoods of these middle-sector households? These questions guide the Outlook to discuss why and how upward mobility should and can be promoted, and how safety nets can be put in place to protect the most vulnerable segments of people within those middle-income groups, as well as the poorest and most disadvantaged households in the economy at large. The report tackles policies such as social protection and education that promote upward mobility, and underscores the importance of fiscal policy as a tool to finance the required reforms and programmes that can engage the Latin American middle sectors in a renewed social contract.
“Latin America is undergoing a rapid transformation and the middle classes are one of the most powerful motors of this change. This edition of the Latin American Economic Outlook analyses the process of expansion of the region’s middle sectors through innovative statistical methods and from a refreshing perspective. The middle classes are dynamic but also vulnerable; they are not poor but they are nevertheless far from enjoying a comfortable and secure economic situation. Their future depends on their own actions, and on the economic and social policies that the region’s governments will adopt over the next decade.”
Eduardo Lora, Chief Economist, Inter-American Development Bank.
“This new report from the OECD Development Centre touches upon a theme that is not often studied but which is of vital importance for the development of our countries: middle-income groups in Latin American societies. The report’s recommendations should be used as a basis for economic policy in the region, with the objective of promoting policy actions in favour of a sector that in advanced economies has been a pillar of development and democratic harmony – in contrast to what has happened in Latin America and the Caribbean.”
Juan Temístocles Montás, Minister of Economy and Planning, Dominican Republic.
“This excellent report leads us to conclude that only with a stronger focus on rights, democracy and redistributive policies can we break the transmission of inequality and poverty from generation to generation, and advance towards the consolidation of a real middle class, a driver of development.”
Soraya Rodriguez Ramos, Secretary of State for International Cooperation, Spain.
Even in the midst of a global financial crisis, Latin American and Caribbean economies find themselves in better condition than in years past. Latin America must seize this opportunity to design and implement good public policies. The greatest of the long-term objectives of Latin American states remains development: economic growth and structural change that is rapid, sustainable and inclusive. In particular, governments must reduce inequalities in income, public-service delivery and opportunities, as well as promote the diversification of economies, often concentrated on a few primary-product exports.
Improved efficiency of public administration is crucial to address both the short-term and long-term dimensions of these challenges. The real change, however, will come if Latin American and Caribbean states carry out meaningful fiscal reforms, making them not only more efficient but also more effective. The increased effectiveness of fiscal policy holds the promise to provide resources needed to address the key challenges of economic development. Three key priority areas for investing additional resources have been highlighted by many governments in the region for their potential to raise competitiveness and social inclusion: education, infrastructure and innovation. In each of these areas, more efficient administration and more effective strategic action is needed from states.
Latin America has weathered the recent turbulence in the global economy with relative strength, but the region now faces – beyond the short-term global uncertainty -- important medium-term risks. Policy makers need to make use of the policy space at their disposal to lay the foundations for inclusive and sustainable growth.
SMEs play a key role as they are an integral part of the economic fabric, comprising over 95% of firms in the region as well as providing employment for over 60% of the region’s inhabitants. Nevertheless, relative to SMEs in the OECD, on average SMEs in Latin America exhibit low levels of relative productivity and weak links with the rest of the economy. In light of several decades of blanket SME policies with limited impacts in the region, this report proposes a more integrated approach that caters to the productive context and firm specificities. SMEs are part of a greater productive structure, and productive development policies need to be designed to address the particularities of heterogeneous SMEs. These differences can be manifested in many ways including the markets they serve, the types of products they produce, the level of technological sophistication and use of human capital involved in production, as well as the productive links with other firms in the industry. Providing policies which are adapted to the productive context requires co-ordination between various policy areas and levels of government to ensure that interventions are complimentary and effective. With this perspective in mind, the report explores key policy areas that address some of the main challenges to SMEs in the region including access to finance, skill development, innovation, and productive development.
Latin American economies continue to present relatively stable growth but continued uncertainty with regards to the duration of the commodity boom could pose threats to medium-term growth and economic development. Latin American countries face increasing competition from emerging economies across the globe particularly in manufacturing sectors. In this context of shifting wealth, it is increasingly important to foster competitiveness and connectivity.
Improving logistics performance is particularly important as it directly impacts growth, productivity, and trade within the region and beyond. The region’s productive structure with significant concentration in natural resource and agriculture augment the importance of logistics in fostering competitiveness. Nevertheless, logistics performance in the region faces serious gaps particularly in the areas of customs performance and the availability of infrastructure. Improving these aspects will entail more and better investment in infrastructure, as well as making the most of existing infrastructure by putting in place efficient trade facilitation measures and efficient and appropriate regulatory frameworks.
Coverage is provided for Argentina, Brazil, Bolivia, Chile, Columbia, Cuba, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatamala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, and Venezuela.
The Latin American Economic Outlook is the OECD Development Centre’s annual analysis of economic developments in Latin America. It is produced in partnership with the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) as well as CAF, the development bank of Latin America. Each edition includes a detailed macroeconomic overview as well as analysis of how the global context is shaping economic performance in the region. The Latin American Economic Outlook also takes an in-depth look at a special theme related to development in Latin America, taking into account future strategic challenges and opportunities. The 2015 edition focuses on the role of education, skills and innovation for development, taking stock of the current situation in the region, identifying the main challenges and opportunities in these fields, and presenting a series of policy areas where action is needed to impulse Latin America’s development.
The Latin American Economic Outlook 2016 is devoted to the evolving relationship between Latin America and China, as well as its prospects in the long term. China's transformation involves a gradual shift in its development strategy, including the rebalancing process from investment to consumption, the demographic transition, the structural transformation towards high value-added goods and services, and a "going-out" policy to approach other regions. This report lays the ground for discussing future trends in the relationship between China and Latin America, given these changing patterns. Based on the analysis of potential transmission channels of China’s new model to the region, which include issues on trade, finance and skills, the outlook aims to identify strategies and policy responses for Latin America to overcome development challenges. Latin America and China can complement each other further and build a mutually beneficial partnership for development.
The 2017 edition of the Latin American Economic Outlook explores youth, skills and entrepreneurship. Young Latin Americans embody the region’s promise and perils. They stand at the crossroads of a region whose once promising economy and social progress are now undergoing a slowdown. The Outlook identifies potential strategies and policy responses to help Latin America and the Caribbean revive economic growth. While development can stem from different sources, skills and entrepreneurship can empower youth to develop knowledge-intensive economic activities, boost productivity and transform the region’s politics as they transition successfully from the world of school to the world of productive work and create that future they seek. The report highlights valuable experiences and best practices in these fields and proposes strategies to allow Latin America to consolidate long-term growth while assuring continuity in the social agenda.
The Latin American Economic Outlook 2018: Rethinking Institutions for Development focuses on how institutions can underpin the foundations of a long period of sustained and inclusive growth and increased well-being. The report begins with an overview of the main macroeconomic challenges, analysing the complex macroeconomic context in the Latin American and Caribbean (LAC) region, and exploring policy options to boost potential growth, with a particular focus on trade. It then analyses the link between low trust and society’s disconnection and dissatisfaction with institutions and a number of long-standing, structural features of the region as well as more recent, contextual dynamics that are shaping LAC’s economy, society and politics . In this respect, the report examines how the social contract can be strengthened in LAC, mainly through a state that delivers and responds to citizens’ changing demands, as well as through policies and institutions which provide good and equal socio-economic opportunities in a rapidly changing global context.
Latin America and the Caribbean has seen a remarkable socio-economic progress since the beginning of the century. Countries strengthened their macroeconomic situations, living standards improved, and poverty and inequality declined. Yet, large structural vulnerabilities remain and new ones have emerged. Many of these are linked to countries’ transition to higher income and development levels. The Latin American Economic Outlook 2019: Development in Transition (LEO 2019) presents a fresh analytical approach to the region’s development trajectories. It assesses four development traps relating to productivity, social vulnerability, institutions and the environment. It outlines local opportunities for responding to these traps and seeks ways of improving the interactions and interlinkages between global public goods and national development agendas, all in the context of the United Nations 2030 Agenda. LEO 2019 calls for improving domestic capacities and adopting a new vision of international co-operation as a facilitator to support efforts to achieve sustainable development for all throughout the region.
The Latin American Economic Outlook (LEO) 2020 focuses on the role of digital transformation in helping to navigate through challenging times. The Covid-19 pandemic is having a profound impact on socio-economic conditions, accentuating the already complex scenario faced by a region with significant structural weaknesses. This unprecedented crisis comes at a time of high aspirations and reinforces the need to transform the very foundations of the development model in the region. The report explores how digital transformation can help to cope with the current socio-economic situation, boost productivity, strengthen institutions and achieve higher levels of inclusion and well-being. The LEO 2020 also highlights that international partnerships are fundamental to reaping the benefits of the digital transformation.
The LEO is a joint annual publication produced by the OECD Development Centre, the United Nations Economic Commission for Latin America and the Caribbean (UN ECLAC), the Development Bank of Latin America (CAF) and the European Union (EU). It is the first pillar of the EU Regional Facility for Development in Transition for Latin America and the Caribbean.
The Latin American Economic Outlook 2021: Working Together for a Better Recovery aims to analyse and provide policy recommendations for a strong, inclusive and environmentally sustainable recovery in the region. The report explores policy actions to improve social protection mechanisms and increase social inclusion, foster regional integration and strengthen industrial strategies, and rethink the social contract to restore trust and empower citizens at all stages of the policy‑making process. Moreover, it stresses the need to promote sustainable and adapted macro‑economic frameworks to finance the recovery, as well as the importance of renewing international co‑operation to support these policy actions. Finally, the publication includes three crucial cross‑cutting themes: climate change and the green recovery, the digital transformation, and gender.
The LEO is a joint annual publication produced by the OECD Development Centre, the United Nations Economic Commission for Latin America and the Caribbean (UN ECLAC), the Development Bank of Latin America (CAF) and the European Union (EU). It is the first pillar of the EU Regional Facility for Development in Transition for Latin America and the Caribbean.
What challenges and opportunities does the green transition entail for Latin America and the Caribbean? This 15th edition of the Latin American Economic Outlook explores options for the region to recast its production models, transform its energy matrix and create better jobs in the process. It argues that, for this transition to be just, stronger social-protection systems and open dialogue must help build new, sustainable social contracts. In support of this ambitious agenda, the report presents an array of financing options, including green finance, and advocates for renewed international partnerships.
Latin America and the Caribbean needs an ambitious and comprehensive investment agenda to embark on a stronger and more sustainable development trajectory. The 16th edition of the Latin American Economic Outlook proposes ways to make this possible through co-ordinated actions by policy makers, the private sector and international partners. It argues that to close existing investment gaps and overcome the region’s structural challenges, it is essential to scale up domestic and foreign investment. These investments should be a catalyst for better quality jobs and an upgraded production structure, harnessing the potential of LAC’s endowments and of the green and digital transitions. Better governance and information are key to promoting effective and efficient public and private investments. Public institutions are fundamental to aligning investments with national development strategies while building stronger social contracts. The report presents a series of options for financing this new investment agenda, including innovative debt instruments and a renewed role for development finance institutions. The report also highlights the importance of reinvigorated international partnerships across the investment agenda.
This profile provides a concise and policy-relevant overview of health and the health system in Latvia as part of the broader series of the State of Health in the EU country profiles. It provides a short synthesis of: the health status in the country; the determinants of health, focussing on behavioural risk factors; the organisation of the health system; and the effectiveness, accessibility and resilience of the health system.
This profile is the joint work of the OECD and the European Observatory on Health Systems and Policies, in co-operation with the European Commission.
This profile provides a concise and policy-relevant overview of health and the health system in Latvia as part of the broader series of the State of Health in the EU country profiles. It provides a short synthesis of: the health status in the country; the determinants of health, focussing on behavioural risk factors; the organisation of the health system; and the effectiveness, accessibility and resilience of the health system. This edition has a special focus on the impact of COVID‑19.
This profile is the joint work of the OECD and the European Observatory on Health Systems and Policies, in co-operation with the European Commission.
This profile provides a concise and policy-focused overview of the state of health and the healthcare system in Latvia, as a part of the broader series of Country Health Profiles from the State of Health in the EU initiative. It presents a succinct analysis encompassing the following key aspects: the current health status in Latvia; the determinants of health, focusing on behavioural risk factors; the organisation of the Latvian healthcare system; and an evaluation of the health system's effectiveness, accessibility, and resilience. Moreover, the 2023 edition presents a thematic section on the state of mental health and associated services in Latvia.
This profile is the collaborative effort of the OECD and the European Observatory on Health Systems and Policies, carried out in cooperation with the European Commission.
This review of Latvia by the OECD Committee on Financial Markets is part of a series of reviews of the financial system. The Committee was requested to examine Latvia’s position with respect to core principles related to financial systems.
This is the latest of the influential series of OECD reports on Innovative Learning Environments. “Learning leadership” is fundamental because it is about setting direction, taking responsibility for putting learning at the centre and keeping it there. This becomes increasingly complex in 21st century settings, calling for innovation and going beyond the heroics of individual leaders. Many need to be involved, bringing in diverse partners at different levels.
This is all explored in this volume. It clarifies the concepts and the dimensions of learning leadership, relating it to extensive international research and identifying promising strategies to promote it. Specific examples are drawn from Austria, Australia, Canada, Israel, Norway, Singapore, Spain, the United Kingdom and the United States. There is an extensive overview that addresses the “why, what, how, who, where, and when” of learning leadership. Among the international experts contributing to this volume are James Spillane, John MacBeath, Louise Stoll, and Clive Dimmock.
This report will prove to be a valuable resource for all those interested in schooling. It will be of particular interest to teachers and teacher educators, advisors and researchers, the voluntary sector and teacher associations, and, first and foremost, education leaders themselves.
What are students like as learners as they near the end of compulsory education? The answer matters greatly, not only because those with stronger approaches to learning get better results at school but also because young adults who are able to set learning goals and manage their own learning are much more likely to take up further study and become lifelong learners. This report analyses the results, focusing on students’ motivation, self-beliefs and use of various learning strategies. In particular, it looks at those characteristics that together make it more likely that a student will become a confident and self-managed learner.