Latin American Economic Outlook 2020

Digital Transformation for Building Back Better

image of Latin American Economic Outlook 2020

The Latin American Economic Outlook (LEO) 2020 focuses on the role of digital transformation in helping to navigate through challenging times. The Covid-19 pandemic is having a profound impact on socio-economic conditions, accentuating the already complex scenario faced by a region with significant structural weaknesses. This unprecedented crisis comes at a time of high aspirations and reinforces the need to transform the very foundations of the development model in the region. The report explores how digital transformation can help to cope with the current socio-economic situation, boost productivity, strengthen institutions and achieve higher levels of inclusion and well-being. The LEO 2020 also highlights that international partnerships are fundamental to reaping the benefits of the digital transformation.

The LEO is a joint annual publication produced by the OECD Development Centre, the United Nations Economic Commission for Latin America and the Caribbean (UN ECLAC), the Development Bank of Latin America (CAF) and the European Union (EU). It is the first pillar of the EU Regional Facility for Development in Transition for Latin America and the Caribbean.

English Also available in: Spanish

The role of international co-operation in the digital age

As digitalisation creates both opportunities and challenges that transcend borders, international co-operation is a key dimension to make the most out of the digital transformation at local, national and international levels. This chapter describes how a renewed model of international co-operation can help LAC countries harness the digital transformation to foster their sustainable development. It first looks at how digital co-operation has helped LAC countries build their domestic capacities to overcome the interlinked challenges of the development traps, thus promoting a multi-dimensional approach to development and aligning national and international priorities. This chapter then explores how building a regional digital market can help the region tap into its digital potential, by harmonising strategies, articulating all levels of digital development and involving multiple stakeholders in a regional policy dialogue on digital issues. To do so, LAC countries can take advantage of useful international experiences, including the European Union’s digital strategy. Finally, LAC countries can also take advantage of being fully involved in multilateral initiatives to address issues arising from digitalisation, notably addressing the tax challenges arising from the digitalisation of the economy.

English Also available in: Spanish


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