Government at a Glance

Latin America and the Caribbean 2014: Towards Innovative Public Financial Management

image of Government at a Glance

Latin American and Caribbean Government at a Glance offers a dashboard of more than 30 indicators to help decision makers and citizens analyze and benchmark government performance both within the LAC region and compared to the OECD countries. The publication focuses in four broad areas: budgeting practices; public sector pay and employment; public procurement and public finances. Furthermore, the policy chapter deepens in the budgetary and fiscal innovations which have taken place for the LAC region in the past years.

Despite the fact that the LAC region has not been so badly affected by the recent Global and Financial crisis, the Latin American an Carribbean Government at a Glance argues that governments need to be more inclusive, transparent, receptive and efficient. For that, they need to improve among other budgetary, employment and procurement practices, as well as increase the transparency levels.

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Government investment spending

Governments invest in infrastructure in order to increase social welfare and improve productivity and competitiveness. Governments can invest in roads and railroads, in expanding telecommunication systems, in improving electrical power networks, and in increasing the number of schools and hospitals. In addition, governments can also invest in research to improve the health care system, or in education and training, to give some examples. Overall, government investment is a critical factor for long-term growth and can also attract foreign direct investment. Historically, infrastructure investment has been low in LAC countries compared to other advanced and emerging economies as a result of institutional constraints and limited access to long-term financing.

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