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Latin American Economic Outlook 2018

Rethinking Institutions for Development

image of Latin American Economic Outlook 2018

The Latin American Economic Outlook 2018: Rethinking Institutions for Development focuses on how institutions can underpin the foundations of a long period of sustained and inclusive growth and increased well-being. The report begins with an overview of the main macroeconomic challenges, analysing the complex macroeconomic context in the Latin American and Caribbean (LAC) region, and exploring policy options to boost potential growth, with a particular focus on trade. It then analyses the link between low trust and society’s disconnection and dissatisfaction  with institutions and a number of long-standing, structural features of the region as well as more recent, contextual dynamics that are shaping LAC’s economy, society and politics . In this respect, the report examines how the social contract can be strengthened in LAC, mainly through a state that delivers and responds to citizens’ changing demands, as well as through policies and institutions which provide good and equal socio-economic opportunities in a rapidly changing global context.

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Brazil

OECD Development Centre

The quality of the Brazilian government, measured by the Quality of Government Index which ranges from 0 to 1 and includes proxies for corruption, law and order, and bureaucracy quality, decreased from 0.41 to around 0.39 between 2005 and 2015. This places the country below both the Latin America and Caribbean (LAC) average (0.44) and the OECD average (0.78) by 2015. Similarly, other governance indicators regarding voice and accountability, political stability, government effectiveness and regulatory quality have also deteriorated over the last decade in the country.

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