Digital transformation of SMEs for cross-border trade and e-commerce in the Republic of Korea: insights for Latin America and the Caribbean

The rapid evolution of digital technologies has reshaped global business, forcing not only large but also small and medium-sized enterprises (SMEs) to embrace digital trade. Nevertheless, many SMEs are struggling to fully implement digital technologies. Against this backdrop, the Republic of Korea has bolstered its support for SMEs, with a focus on human capital development, financing, and research and development. Furthermore, the country has revised its trade regulations and frameworks, placing significant emphasis on digital capacity-building and the alignment of regulations with internatio…

Operational aspects of support programmes for the digital transformation of exporting small and medium-sized enterprises in the Republic of Korea

Because international trade is essential for the Republic of Korea’s economic growth and development, the government actively promotes exports by large companies and especially by small and medium-sized enterprises (SMEs). Several programmes support participation by SMEs in cross-border e-commerce, which may have contributed to their rapidly rising exports through this channel. This report reviews selected programmes implemented by the Korea SMEs and Startups Agency (KOSME) and the Korea Trade-Investment Promotion Agency (KOTRA). To maximize the programmes’ impact, KOSME and KOTRA apply a circ…

International migration and sustainable development in the Caribbean: an analysis of data trends from 2000 to 2020

This study assesses international migration trends in 28 Caribbean countries from 2000 to 2020 and discusses the implications of these trends for different aspects of sustainable development in the subregion. It is well-documented that the Caribbean is a subregion that has exhibited net emigration, but this trend has intensified over the last two decades, with Global North regions representing the main destination of Caribbean emigrants. Although immigration to the Caribbean increased from 2000 to 2020, this increase was less substantial than that recorded for emigration from the subregion. By…

Preventing and reducing school dropout in Latin America and the Caribbean

Despite considerable strides in education in recent decades, in 2019, Latin America and the Caribbean was a long way from achieving the targets of Sustainable Development Goal 4 on ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for. The path towards their achievement is fraught with greater challenges than ever owing to the protracted social crisis brought on by the coronavirus disease (COVID-19) pandemic. Between 2020 and 2022, schools remained closed in Latin America and the Caribbean for an average of 70 weeks, longer than in any other regio…

Harnessing the potential of artificial intelligence to create public value in the Caribbean. Policy Brief

Caribbean governments need to proactively harness and adopt artificial intelligence technology in public sector organizations to create public value. Despite its numerous benefits, public sector organizations in the Caribbean are lagging in artificial intelligence (AI) adoption. AI is a disruptive technology that has become increasingly ubiquitous and pervasive in modern societies. Extremely transformative, they have advanced rapidly, and affect virtually every aspect of our existence, including the way we interact with and transact within society. AI has provided many benefits, which were pre…

Employment Situation in Latin America and the Caribbean. Labour market inclusion of young people and redistribution of care work: challenges and opportunities

After two years of a steady recovery of labour markets in the wake of the COVID-19 pandemic in Latin America and the Caribbean, in the first quarter of 2023, labour market performance weakened in a context of slow growth. Moreover, the regional economic slowdown, likely to intensify from the second half of 2023 onwards, is expected to pose greater challenges for the continued increase in the employment rate, and for growth in both formal and wage-earning employment. This twenty-ninth edition of Employment Situation in Latin America and the Caribbean anaylses the dynamics that connect the labou…

Assessment of the economic costs of vehicle traffic congestion in the Caribbean: a case study of Trinidad and Tobago

Vehicle traffic congestion produces significant economic costs in most cities and metropolitan regions of the world. It is also a significant source of green house gas emissions as well as other air pollutants which in turn contribute to major health risks. Traffic congestion also generates additional impacts including stress, fatigue and depression among commuters, and is possibly linked to increased antisocial behaviour and diminished road safety. The problem has become a major challenge among Caribbean small island developing states (SIDS), especially in the context of the subregion’s growi…

Paraguay: connectivity indicators and social development

In 2020, Paraguay’s National Connectivity Report was prepared as part of the United Nations Development Account project “Sustainable transport connectivity and implementation of transport-related SDGs in selected landlocked and transit/bridging countries”. The report contains 161 indicators that assess rail, road, and inland waterway transport in Paraguay, concerning areas such as the regulatory and administrative framework for border crossings, quality of transport infrastructure, quality of regulations on transport of dangerous goods and perishable foodstuffs, and efforts to reduce emissions…

The Hummingbird Vol. 11 No. 1

Public expenditure in Latin America and the Caribbean: classification systems for the analysis of resource allocation

The purpose of this document is to provide a comprehensive overview of public expenditure in Latin American and Caribbean countries, through the functional classification and social expenditure on the basis of the Social Expenditure Database (SOCX) methodology of the Organisation for Economic Co-operation and Development (OECD). The detailed and comparable statistical information on public spending by purpose and function, as well as by social programme, makes it possible to analyse, formulate and implement public policies that are more efficient and effective. It also allows for greater trans…

Progress in implementation of the Samoa Pathway: Caribbean regional synthesis report

This Report provides an overview of the implementation of the Small Island Developing States (SIDS) Accelerated Modalities of Action (SAMOA) Pathway adopted in 2014 in Caribbean SIDS. It assesses the progress, made as well as the gaps and challenges Caribbean SIDS experienced in implementing the Samoa Pathway. Recommendations on how these gaps and challenges could be addressed in future iterations of the SIDS Programme of Action are also defined. The Report further outlines emerging issues and potential priority actions that the subregion may wish to consider in its preparation for the Fourth …

Early childhood, inequalities and rights in Latin America and the Caribbean

A focus on early childhood is crucial for any inclusive social development strategy. Notwithstanding legislative and scientific progress and new child-oriented social agendas and policies, children aged between 0 and 8 continue to be disproportionately affected by poverty and vulnerability. The coronavirus disease (COVID-19) pandemic exacerbated inequalities and has created urgent new needs in what was already a vulnerable context for a population that is at a developmentally critical stage of life. The consequences for the economy, care and education services, food insecurity, maternal mortal…

Artificial Intelligence for Caribbean Sustainable Development

Sustainable bond issuances in international markets, 2014–2022: characteristics, trends and greenium in Latin America and the Caribbean

This document examines the evolution of Latin America and the Caribbean (LAC)’s international issuance of sustainable bonds —green, social, sustainability and sustainability-linked bonds (GSSS)— since the region’s first international green bond was issued in December 2014. Reaching a cumulative total international GSSS bond issuance of US$ 100 billion in the 2014-2022 period, four main trends are identified. First, the share of GSSS bonds in the region’s total international bond issuance has increased significantly, jumping from less than 1% in 2018 to 32% in 2022. Second, while initially most…

United States economic outlook: third quarter of 2023

The United States economy expanded by 5.2% in the third quarter of 2023, the fastest pace in nearly two years. Consumer spending was the main driver of economic growth in the quarter, followed by accumulation of private inventories. The third quarter marked the fifth consecutive quarter of growth above the economy’s potential. Labour market growth remained solid, with 2.6 million jobs added from January to November 2023, but is easing. Inflation is also gradually slowing. Despite interest rate hikes in 2022 and in the first half of 2023, the United States economy —supported by a strong job mar…

Scaling up circular economy initiatives in Latin America and the Caribbean

This document analyses the possibility of scaling up the potential of the circular economy through financial instruments in Latin America and the Caribbean. It reviews progress in the circular economy in four business cases, selected based on priorities and representativeness for the Latin American and Caribbean region, and assesses the prospect of scaling them up using financial mechanisms and environmental, social and governance (ESG) schemes. The findings show that investment in circular economy business models has multiple benefits for companies, such as profitable operating margins and im…

From legislation to implementation: building a new industrial policy in the United States

This document examines the implementation strategies and execution challenges of three major pieces of legislation that were signed into law in the United States in late 2021 and in 2022. Together they provide more than US$ 2 trillion in authorized funding and incentives for up to ten years to rebuild the country’s infrastructure, accelerate the transition to a green economy, and strengthen the domestic semiconductor industry while promoting job growth, workforce development, and equity. The scale of these laws, given the level of funding required, their complexity, given the multiplicity of g…

Social Panorama of Latin America and the Caribbean 2023: labour inclusion as a key axis of inclusive social development

This edition of the Social Panorama of Latin America and the Caribbean addresses the challenges of labour inclusion as a key axis for inclusive social development. Despite a recovery in social indicators in 2022 (reduction of poverty and inequality, recovery of employment), the region faces a double trap of low growth and high levels of poverty and inequality. Labour inclusion is key to combating poverty, reducing informality and inequality and moving towards inclusive social development. Gender gaps in labour market inclusion are driven by the unequal distribution of the burden of care work, …

Aging in Latin America and the Caribbean from the Perspective of National Transfer Accounts

This report is the fruit of collaboration between the Pan American Health Organization (PAHO) and the Economic Commission for Latin America and the Caribbean (ECLAC). It describes ageing based on the socioeconomic profiles of older persons in the subregion, from the perspective of national transfer accounts. The report analyses the profiles of labour income and consumption; the life cycle deficit; financing the system for older persons; the interactions between consumption, health, and population ageing; the economic support ratio; and public policies that provide transfers to older persons. I…

Latin American Economic Outlook 2023: Investing in Sustainable Development

Latin America and the Caribbean needs an ambitious and comprehensive investment agenda to embark on a stronger and more sustainable development trajectory. The 16th edition of the Latin American Economic Outlook proposes ways to make this possible through co-ordinated actions by policy makers, the private sector and international partners. It argues that to close existing investment gaps and overcome the region’s structural challenges, it is essential to scale up domestic and foreign investment. These investments should be a catalyst for better quality jobs and an upgraded production structure…