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Latin America and the Caribbean as Tailwinds Recede : In Search of Higher Growth, LAC Semiannual Report, April 2013

Author

Listed:
  • Augusto de la Torre
  • Samuel Pienknagura
  • Eduardo Levy Yeyati

Abstract

This semiannual report — a product of the Office of the Chief Economist for Latin America and the Caribbean Region of the World Bank — examines the short and medium-term challenges for Latin America and the Caribbean (LAC) as the external factors that were instrumental in the region’s recent performance recede. Chapter 1 gives an overview of the global economy and its implications for the short- and medium-term prospects of the LAC region. Chapter 2 provides a detailed analysis of the general patterns of domestic demand and supply observed in LAC over the last decade. In particular we document the steady increase in LAC’s domestic demand, especially its investment component, as a share of GDP over the 2000s. Moreover, we show that the rise of domestic demand has occurred in tandem with an expansion of the services sector. We assess what are the pitfalls and challenges for LAC’s growth pattern in a less benign global environment.

Suggested Citation

  • Augusto de la Torre & Samuel Pienknagura & Eduardo Levy Yeyati, "undated". "Latin America and the Caribbean as Tailwinds Recede : In Search of Higher Growth, LAC Semiannual Report, April 2013," World Bank Other Operational Studies 13266, The World Bank.
  • Handle: RePEc:wbk:wboper:13266
    as

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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/13266/9780821399750.pdf?sequence=1
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    References listed on IDEAS

    as
    1. Lustig, Nora & Lopez-Calva, Luis F. & Ortiz-Juarez, Eduardo, 2013. "Deconstructing the decline in inequality in Latin America," Policy Research Working Paper Series 6552, The World Bank.
    2. Easterly, William & Kremer, Michael & Pritchett, Lant & Summers, Lawrence H., 1993. "Good policy or good luck?: Country growth performance and temporary shocks," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 459-483, December.
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    6. Stéphane Bonhomme & Laura Hospido, 2012. "The cycle of earnings inequality: evidence from Spanish social security data," Working Papers 1225, Banco de España;Working Papers Homepage.
    7. Augusto de la Torre & Julian Messina & Samuel Pienknagura, "undated". "The Labor Market Story Behind Latin America's Transformation
      [El papel del mercado laboral en la transformación de América Latina]
      ," World Bank Other Operational Studies 11884, The World Bank.
    8. Azevedo, Joao Pedro & Davalos, Maria Eugenia & Diaz-Bonilla, Carolina & Atuesta, Bernardo & Castaneda, Raul Andres, 2013. "Fifteen years of inequality in Latin America : how have labor markets helped ?," Policy Research Working Paper Series 6384, The World Bank.
    9. Margaret S. McMillan & Dani Rodrik, 2011. "Globalization, Structural Change and Productivity Growth," NBER Working Papers 17143, National Bureau of Economic Research, Inc.
    10. Cruces, Guillermo & Gasparini, Leonardo, 2011. "Inequality in Education: Evidence for Latin America," WIDER Working Paper Series 093, World Institute for Development Economic Research (UNU-WIDER).
    11. Acemoglu, Daron & Autor, David, 2011. "Skills, Tasks and Technologies: Implications for Employment and Earnings," Handbook of Labor Economics, Elsevier.
    12. Barro, Robert J. & Lee, Jong Wha, 2013. "A new data set of educational attainment in the world, 1950–2010," Journal of Development Economics, Elsevier, pages 184-198.
    13. Daron Acemoglu, 2002. "Directed Technical Change," Review of Economic Studies, Oxford University Press, vol. 69(4), pages 781-809.
    14. repec:hrv:faseco:4784031 is not listed on IDEAS
    15. Barro, Robert J. & Lee, Jong Wha, 2013. "A new data set of educational attainment in the world, 1950–2010," Journal of Development Economics, Elsevier, pages 184-198.
    16. Francisco H.G. Ferreira & Julian Messina & Jamele Rigolini & Luis-Felipe López-Calva & Maria Ana Lugo & Renos Vakis, 2013. "Economic Mobility and the Rise of the Latin American Middle Class
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    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. What does the end of the commodity boom mean for poverty in Latin America?
      by ? in Let's Talk Development on 2015-06-23 19:30:00

    Citations

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    Cited by:

    1. Arias Ortiz E. & Crespi, G. & Rasteletti, A. & Vargas, F., 2014. "Productivity in services in Latin America and the Caribbean," MERIT Working Papers 056, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    2. Nora Lustig & Luis F. Lopez-Calva & Eduardo Ortiz-Juarez, 2013. "Deconstructing the Decline in Inequality in Latin America," Working Papers 1314, Tulane University, Department of Economics.
    3. Augusto de la Torre & Eduardo Levy Yeyati & Samuel Pienknagura, "undated". "Latin America’s Deceleration and the Exchange Rate Buffer : LAC Semiannual Report, October 2013," World Bank Other Operational Studies 16107, The World Bank.
    4. Carlos A. Vegh & Luis Morano & Diego Friedheim & Diego Rojas, "undated". "Between a Rock and a Hard Place," World Bank Other Operational Studies 28443, The World Bank.
    5. Augusto de la Torre & Guillermo Beylis & Jaime de Piniés, "undated". "International Flows to Latin America--Rocking the Boat? LAC Semiannual Report, April 2014," World Bank Other Operational Studies 18029, The World Bank.
    6. Cord, Louise & Barriga Cabanillas, Oscar & Lucchetti, Leonardo & Rodriguez-Castelan, Carlos & Sousa, Liliana D. & Valderrama, Daniel, 2014. "Inequality stagnation in Latin America in the aftermath of the global financial crisis," Policy Research Working Paper Series 7146, The World Bank.
    7. Leonardo Gasparini & Guillermo Cruces & Leopoldo Tornarolli, 2016. "Chronicle of a Deceleration Foretold: Income inequality in Latin America in the 2010s," CEDLAS, Working Papers 0198, CEDLAS, Universidad Nacional de La Plata.
    8. Augusto de la Torre & Alain Ize & Samuel Pienknagura, "undated". "Latin America Treads a Narrow Path to Growth," World Bank Other Operational Studies 21699, The World Bank.
    9. Augusto de la Torre & Eduardo Levy Yeyati & Guillermo Beylis & Tatiana Didier & Carlos Rodriguez Castelan & Sergio Schmukler, "undated". "Inequality in a Lower Growth Latin America : LAC Semiannual Report, October 2014," World Bank Other Operational Studies 20413, The World Bank.
    10. de la Torre, Augusto & Didier, Tatiana & Pinat, Magali, 2014. "Can Latin America tap the globalization upside ?," Policy Research Working Paper Series 6837, The World Bank.
    11. Francisco Parro & Loreto Reyes, 2017. "The rise and fall of income inequality in Chile," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), pages 1-31.

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