Development Traps in Latin America and the Caribbean: Vital Transformations and How to Manage Them

4 October 2024 | Publication

Development Traps in Latin America and the Caribbean: Vital Transformations and How to Manage Them

- Publication corporate author (Institutional author): NU. CEPAL
- Physical description: 287 páginas.
- Publisher: ECLAC
- UN symbol (Signature): LC/SES.40/3-P/-*
- Date: 4 October 2024
- ISBN: 9789210032780

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Abstract

Latin America and the Caribbean is facing a number of development traps that pose significant obstacles to a more productive, inclusive and sustainable future. This development crisis coincides with an international context that has changed considerably in the last decade —both on the geo-economic and geopolitical fronts— and which is shifting towards a new set of rules for trade and investment.

For its fortieth session, the Economic Commission for Latin America and the Caribbean (ECLAC) is putting forward a new proposal analysing three transformations that are vital for moving towards a new development model: (i) a productive transformation for higher, sustained, inclusive and sustainable growth; (ii) a transformation to reduce inequality and foster inclusion and social mobility; and (iii) a transformation to boost sustainability and combat climate change. This document includes various proposals for carrying out these transformations, with a focus on how to manage them so as to overcome the development traps in the region. Managing these transformations requires improved governance; strengthening of the technical, operational, political and prospective capabilities of institutions; and the promotion of social dialogue.

Table of contents

  • Foreword
  • Introduction
  • Chapter I. Globalization redefined
  • Chapter II. Development traps in Latin America and the Caribbean and vital transformations
  • Chapter III. The challenge of managing transformations
  • Chapter IV. How to achieve stronger, sustained, inclusive and sustainable growth?
  • Chapter V. How to reduce inequality and promote inclusion and social mobility?
  • Chapter VI. How to promote sustainability and address climate change?
  • Chapter VII. How can domestic and international financing for development be mobilized?
  • Final remarks.