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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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Costa Rica

OECD Development Centre

The quality of the government of Costa Rica is quite high. With a score of 0.50 out of 1 across the Quality of Government index, which includes measures of corruption, law and order, and bureaucracy quality, Costa Rica’s performance is above the regional average of 0.44. Yet perception of corruption in Costa Rica has remained relatively constant at 76% throughout the last decade. This number is close to the average of 79% for Latin America and the Caribbean, but remains above the 65% average observed among OECD member countries. Notably, confidence in the government fell from 38% to 28% between 2006 and 2016, settling below both the LAC average (29%) and the OECD average (37%). The share of people that expressed confidence in the country’s judicial system and courts decreased from 47% to 41% during the same period; nonetheless, this share remains 7 percentage points above the average for the region (34%).

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