Latin American Economic Outlook 2010

image of Latin American Economic Outlook 2010
Contrary to prevailing wisdom, Latin American countries that opened their markets to international competition during the last decade have not been more vulnerable to the global economic downturn. The OECD Latin American Economic Outlook 2010 provides a fresh analysis of economic trends in the region with a particular focus on the role that international migration and remittances play in shaping the current context.

“Among the most interesting surprises by the global economic crisis: so far its impact on Latin America has been less than anticipated. This OECD report offers a clear analysis of the factors that explain this phenomenon.” Moisés Naim, Editor in Chief, Foreign Policy

“This essential study shows that countries open to the international economy with serious fiscal and monetary policies were better prepared to confront this crisis. The reprot also explains, with realistic analysis, why why migration policies belong on the international agenda.” Ricardo Lagos,former President of Chile

“This volume suggests that migration can help the development process provided that some interventions are adopted both in the sender and recipient countries.” Mauricio Cárdenas, Senior Fellow and Director of the Latin America Initiative, Brookings Institution

“Policy makers, academics and others interested in Latin American will find here a serious and relevant contribution to advancing their own work.” Santiago Levy,Vice President for Sectors and Knowledge, Inter-American Development Bank

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Migration, Labour Markets and Social Protection

OECD Development Centre

Are the people flows described in the previous chapter a good or bad thing? The answer may depend on whose perspective you adopt. The costs and benefits of these migration flows can be assessed from the perspective of at least three parties: migrants themselves (the focus of the previous chapter), the countries to which they migrate, and their home countries. Economic research has been almost exclusively devoted to the second of these groups, the countries of destination, and particularly those that are OECD countries; to a lesser extent, studies have looked at migrants’ own experience. Furthermore, while a great deal has been said about the effects of remittances on development – a discussion reviewed in detail in the following two chapters – little has been said about the effects, economic and otherwise, of the outflow of 20-plus million people.

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