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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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Skills in Latin America and the Caribbean amid shifting wealth

OECD Development Centre

This chapter analyses the influence of shifting wealth on skills and production development in Latin America. It proposes that an inadequate supply of skills (in terms of quantity and quality) explains their limited role in the Latin American development model. This situation has left the vast majority of countries in the region caught in the middle-income trap, which is particularly difficult to escape in the current context, in which shifting wealth is making it difficult to identify and acquire the necessary skills. More than in any other emerging region, Latin American companies are not seeing their demand for skills being met. This contrasts with the drop in returns to education in the region, reflecting the complexity of acquiring the skills needed in such a dynamic economic environment. The chapter also analyses the distribution of workers according to their level of skills and highlights the potential role of technical and vocational training in increasing the impact of training on employment.

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