The effects of domestic demand shocks on inflation in a small open economy: Chile in the period 2000–2021

This study decomposes the factors that determined inflation in Chile during the period 2000–2021. It finds that the main determinants of domestic inflation were variables of external origin and the exchange rate. Domestic demand played a rather limited role as an inflationary factor. In normal periods, increases in domestic demand generally explained no more than 25% of observed inflation. The average monthly inflation observed during the period 2000–2021 was 0.3%, which means that domestic demand growth in normal periods explained monthly inflation of 0.08%. Surprisingly, the extraordinary pe…

Illustrating Internet Speed Divides in the Caribbean During COVID-19

Discussions on digital inclusion and the digital divide have been ongoing at the global level for over 20 years. While early discussions focused primarily on the gap in access to digital technologies between countries, new digital divides have emerged as the technology has become more advanced and its impact on society has increased.…

Measurement of tax expenditures in Latin America

The tax system is one of the main instruments used by the State to finance the provision of public goods and services. In the tax system, there are preferential treatments that seek to promote economic activity or support certain sectors. The public revenues forgone by these preferential treatments are known as tax expenditures. The volume of tax expenditures in Latin America is considerable. On average, they were equivalent to 3.8% of GDP and accounted for 20.6% of tax revenues in 2020. Given the need to promote a transformative recovery and finance the implementation of the Sustainable Devel…

Which revealed comparative advantage index to choose? Theoretical and empirical considerations

This article proposes guidelines for choosing an index of revealed comparative advantages (RCA) to analyse a given configuration of countries, products and periods. Following a systematic review of the main theoretical strengths and weaknesses inherent in RCA indices, a standardized method is designed to gauge the quality of their empirical measurement. This method is illustrated for Colombia and the Northern Triangle. The guidelines formalize a number of theoretical and empirical trade-offs that need to be weighed to provide a better basis for choosing an RCA index.…

Governance approaches and practices in Latin America and the Caribbean for transformative change for biodiversity

The relevance of biodiversity to global climate, health and social stability has been widely documented; its present state of deterioration and loss is an urgent call to change the way in which we live with species and ecosystems. This leads to a recognition of the importance of reformulating the institutions and various processes associated with biodiversity governance at the subnational, national and global levels that have a negative impact on its conservation and sustainable use. In other words, there is a need to design and implement new forms of governance that facilitate positive transf…

Brazilian agriculture before the Targets Plan: the functionality of agrarian reform during the constrained industrialization period

This article reviews the economic structure of Brazilian agriculture during the years of constrained industrialization, by providing a descriptive analysis of the sector’s main economic data. It reconsiders the debate of the 1950s and 1960s on the roles played by agriculture in national economic development; and it shows that the growth of agricultural production in Brazil was hindered by the deterioration of the terms of trade between agriculture and agribusiness, which was also associated with miserly rural wages. These factors rendered agricultural modernization relatively disadvantageous i…

The Chile-Republic of Korea Free Trade Agreement: a synthetic control assessment

In 2003, Chile and the Republic of Korea signed the first trans-Pacific free trade agreement (FTA). The two countries’ objectives differed. Chile sought to increase, diversify, and add value to its exports, while the Republic of Korea had the political economy-driven goal of initiating preferential liberalization negotiations, and Chile was seen as an ideal candidate for exploring this path. This paper focuses on the Chilean objectives behind the signing of the Chile-Republic of Korea FTA and therefore considers its effects on Chilean exports. Synthetic control methods are used to assess the i…

Economic Survey of Latin America and the Caribbean 2022: Trends and challenges of investing for a sustainable and inclusive recovery

The 2022 edition of the Economic Survey of Latin America and the Caribbean consists of three parts. Part I outlines the region’s economic performance in 2021 and analyses trends in the early months of 2022, as well as the outlook for growth for the year. It examines the external and domestic factors that have influenced the region’s economic performance in 2021, trends for 2022, and how these factors will affect economic growth in the coming years. Part II of this edition presents some of the main challenges the region faces in investing for sustainable and inclusive economic growth. It analys…

Provisional agenda. Fifth Regional Intergovernmental Conference on Ageing and the Rights of Older Persons in Latin America and the Caribbean

Annotated provisional agenda. Fifth Regional Intergovernmental Conference on Ageing and the Rights of Older Persons in Latin America and the Caribbean

Foreign Direct Investment in Latin America and the Caribbean 2022

This document examines the global and regional evolution of FDI and offers recommendations so these flows can contribute to the region’s productive development processes. FDI can support the investments needed for countries to move towards more inclusive and sustainable development, but, as ECLAC has argued in successive editions of this report, that does not happen automatically. Policies are needed to provide the necessary framework so that FDI entering the region is directed towards activities that support virtuous development in respect of inclusiveness, employment quality, environmental s…

Social Panorama of Latin America and the Caribbean 2022: Transforming education as a basis for sustainable development

Social Panorama of Latin America and the Caribbean, 2022 has four chapters. Chapter I presents the relevant macroeconomic background in terms of the evolution of per capita GDP, employment, household income distribution and the consumer price index, and looks at how income inequality and poverty have changed over the past two decades (2002–2021). The chapter also discusses changes that occurred in social stratification during the pandemic. Chapter II addresses the worrying silent crisis of education as another of the pandemic’s major consequences, as well as the successive crises that have acc…

United States economic outlook: Inflation trends post COVID-19

The United States has witnessed historic inflation since the economy began to reopen in 2021 following the lockdowns triggered by the coronavirus disease (COVID-19) pandemic. The United States economic outlook: inflation trends post COVID-19 looks at the forces behind this surge in prices and the trade-offs and risks for the policy response. The report examines inflation trends and drivers, as well as labour market trends since the economy reopened; economic policies implemented by the United States in response to the pandemic, and more recently to inflation; and the possible impact of these p…

Institutional and methodological recommendations for the measurement of indicators for the disaster-related Sustainable Development Goals and the Sendai Framework for Disaster Risk Reduction

This document outlines institutional and methodological recommendations proposes six methodological steps for measuring indicators for the disaster-related Sustainable Development Goals (SDG) and the Sendai Framework for Disaster Risk Reduction and defines a number of global, regional and national criteria and instruments. The document is accompanied by a Matrix of Requirements, a diagnostic mechanism to identify the gaps and needs in statistical processes that require greater clarification and support from the national statistical offices and stakeholders involved.…

Digital agenda for Latin America and the Caribbean (eLAC2024)

Montevideo declaration. Building together in the digital age

Demographic Observatory of Latin America and the Caribbean 2022. Population trends in Latin America and the Caribbean: Demographic effects of the COVID-19 pandemic

The 2022 edition of the Demographic Observatory offers selected indicators of population estimates and projections for 38 countries and territories in Latin America and the Caribbean. The estimates and projections were prepared by CELADE in conjunction with the United Nations Population Division (UNPD) for the 20 countries of Latin America; those for the 18 Caribbean countries and territories were prepared by UNPD. This new release updates previously published figures and uses the cohort component method by single ages and calendar years, unlike the 2019 edition, which was prepared for years e…

A digital path for sustainable development in Latin America and the Caribbean

The rapid advance of digital technologies and their increasingly cross-cutting applications have driven global transformations that are affecting the entire economy and all of society. The coronavirus disease (COVID-19) pandemic marked a turning point in terms of how widely digital solutions are used, as they became vital tools for maintaining social and productive activities under the restrictions on face-to-face activities and movement put in place during the health emergency. This more widespread adoption of digital technologies —especially of the most advanced ones linked to intensive use …

Breaking the statistical silence to achieve gender equality by 2030: Application of the information systems pillar of the Montevideo Strategy for Implementation of the Regional Gender Agenda within the Sustainable Development Framework by 2030

Mainstreaming the gender perspective in national statistical systems makes it possible to produce information that reflects the circumstances of women and men in all their diversity, and thus to shed light on inequalities in different aspects of life. The Regional Gender Agenda recognizes the need to design informed public policies based on this type of data, as outlined in the Montevideo Strategy for Implementation of the Regional Gender Agenda within the Sustainable Development Framework by 2030, pillar 9, “Information systems: transforming data into information, information into knowledge a…

Financing care systems and policies in Latin America and the Caribbean: Contributions for a sustainable recovery with gender equality

In Latin America and the Caribbean, care has gradually been placed at the centre of public agendas, albeit unevenly, as a result of growing political commitments, as well as the work of women’s movements and feminist economic studies. These contributions have focused on the need to reorganize and redistribute care work as a key factor in more egalitarian and inclusive societies. Over the course of more than four decades, the member States of ECLAC, meeting at sessions of the Regional Conference on Women in Latin America and the Caribbean, have adopted the Regional Gender Agenda, which aims to …