Por que ha declinado el ritmo del crecimiento economico de America Latina uri icon

abstract

  • The export-led growth strategy is not working well in Latin America. Despite significant reforms, most countries in the region have been unable to reach the growth rates achieved between 1950 and 1980. There has been a widespread slowdown after 1995, particularly in South America. The main reason seems to be a serious deterioration in export performance, both because the growth of world trade has slowed down but also because Latin America is losing market share relative to other developing countries. Thanks to NAFTA and close ties to the US market, Mexico and several other countries in Central America and the Caribbean have performed much better The lesson is that market reforms alone will not guarantee a stable or rapid growth rate. The government and private sector need to cooperate to develop export markets and export potential. The government should manage the exchange rate thinking less about inflation and more about the effect of real appreciation on the production of tradables.

publication date

  • 2002
  • 2002