Latin American Economic Outlook 2012
Hide / Show Abstract

Latin American Economic Outlook 2012

Transforming the State for Development

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.

Click to Access: 
    http://oecd.metastore.ingenta.com/content/4111051e.pdf
  • PDF
  • http://www.keepeek.com/Digital-Asset-Management/oecd/development/latin-american-economic-outlook-2012_leo-2011-en
  • READ
Publication Date :
13 Jan 2012
DOI :
10.1787/leo-2012-en
 
Chapter
 

Preface You do not have access to this content

Click to Access: 
    http://oecd.metastore.ingenta.com/content/4111051ec001.pdf
  • PDF
  • http://www.keepeek.com/Digital-Asset-Management/oecd/development/latin-american-economic-outlook-2012/preface_leo-2012-1-en
  • READ
Author(s):
OECD
Pages :
3–3
DOI :
10.1787/leo-2012-1-en

Hide / Show Abstract

The current international context of Latin America and the Caribbean opens a window of opportunity that countries in the region should use to design long-term development strategies. In addition to the gradual consolidation and strengthening of its democratic systems, most of the region has withstood the economic and financial crisis well, in great part thanks to the responsible macroeconomic management over the last years.
Also available in: French