Latin American Economic Outlook 2017

Youth, Skills and Entrepreneurship

image of Latin American Economic Outlook 2017

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.

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Youth entrepreneurship in Latin America and the Caribbean

OECD Development Centre

Youth entrepreneurship can be a vehicle for enhancing individuals’ employability and social mobility, while also inducing productive transformation. Whereas attitudes towards entrepreneurship are similar, Latin American young entrepreneurs tend to be less educated and come from more disadvantaged socio-economic backgrounds than in OECD economies. With fewer resources, skills and experience, they face higher barriers for business creation in accessing finance, acquiring entrepreneurial skills, integrating business networks, creating new markets and overcoming regulatory barriers. Public policy in these areas has improved entrepreneurship prospects to some extent. Programme evaluations suggest that youth entrepreneurship programmes have been effective for improving labour market outcomes. Strengthening those programme components which are most effective, such as business training, counselling and mentoring, can substantially improve the effectiveness of future programmes.

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