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Latin American Economic Outlook 2015

Education, Skills and Innovation for Development

image of Latin American Economic Outlook 2015

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.

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Editorial

OECD Development Centre

Latin America is continuing to experience the economic slowdown that began in 2010. Average growth has lost ground on that of the OECD countries. These developments are due to both internal factors and the less favourable external environment over the past five years, during which the slowdown in the Chinese economy has reduced demand for commodities and therefore brought down commodity prices. In addition, the United States has announced that it will tighten monetary conditions. Although the situation varies greatly from one country to another, the current context underlines the need for all Latin American countries to boost productivity and potential growth. Only then will the significant progress made over the past ten years in reducing poverty and inequality be consolidated.

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