This article has a twofold purpose: to describe the social and economic situation
in the countries of the Central American subregion prior to the coronavirus disease
(COVID-19) pandemic and to provide a comparative analysis of the macroeconomic
policies introduced by the governments of these countries in response to this health
crisis. As a central part of that analysis, it looks at the main structural policy challenges
for the enhancement of social protection and reactivation of production activity and
employment to be met by these countries during and after the pandemic. The need
for a natio…
El propósito del presente artículo es doble. Por una parte, se ocupa de describir el estado socioeconómico de la subregión centroamericana antes de la pandemia de enfermedad por coronavirus (COVID-19). Por otra, pone a disposición un análisis comparativo de las políticas macroeconómicas que han aplicado los gobiernos de los países ante la crisis derivada de la pandemia. Como un aspecto central el texto también plantea, desde una perspectiva estructural, los principales desafíos en términos de políticas nacionales (durante la pandemia y posteriores a ella, si cabe así decirlo) de protección soc…
Nota editorial .-- Presentación. Economía global y desarrollo en tiempos de pandemia: los retos para América Latina y el Caribe / Alicia Bárcena y Mario Cimoli, editores invitados .-- Asimetrías estructurales y crisis sanitaria: el imperativo de una recuperación transformadora para el desarrollo sostenible en América Latina y el Caribe / Alicia Bárcena y Mario Cimoli .-- La crisis del COVID-19 de América Latina con una perspectiva histórica / José Antonio Ocampo .-- Construir un multilateralismo favorable al desarrollo: hacia un “nuevo” nuevo orden económico internacional / Ha-Joon Chang .-- E…
The economies of Latin America and the Caribbean have been slipping behind in the global economy, weighed down by structural problems that hinder their capacity to grow and absorb technology. The coronavirus disease (COVID-19) pandemic has not only brought these structural problems into sharper relief, but has also exacerbated them, by reinforcing adverse trends in growth, employment and income distribution. This article analyses these trends and argues that the crisis requires a response that is both immediate but also aims to overcome long-term constraints. Very robust fiscal policies are ne…
Las economías de América Latina y el Caribe han venido rezagándose en la economía mundial, lo que constituye un reflejo de problemas estructurales que comprometen su capacidad de crecimiento y de absorción de la tecnología. La pandemia de enfermedad por coronavirus (COVID-19) no solo ha visibilizado esos problemas estructurales, sino que los ha exacerbado, y ha reforzado las tendencias negativas en el crecimiento, el empleo y la distribución de los ingresos. El artículo analiza dichas tendencias y plantea que la crisis hace necesaria una respuesta inmediata, que debe, al mismo tiempo, apuntar …
The decade ending in 2019 saw the highest ever foreign direct investment (FDI) inflows to Latin America and the Caribbean, which reached their peak in 2012. Since then, foreign investment inflows have declined steadily, bringing into focus, especially in South American countries, the relationship between FDI flows, the macroeconomic cycle and commodity price cycles in the region.
In 2019, Latin America and the Caribbean received US$ 160.721 billion in FDI, 7.8% less than in 2018, a decline that is seen intensifying sharply in 2020 when inflows are forecast to drop by between 45% and 55% as a r…
Na década que terminou em 2019, as entradas de investimento estrangeiro direto (IED) na América Latina e no Caribe alcançaram seu máximo valor histórico, fato que ocorreu em 2012. Depois desse ano, a queda dos fluxos de investimento estrangeiro foi quase ininterrupta, tornando evidente a relação que existe na região entre os fluxos de IED, o ciclo macroeconômico e os ciclos de preços das matérias-primas, principalmente nos países da América do Sul. Em 2019, ingressaram 160,721 bilhões de dólares de IED, montante 7,8% menor que o registrado em 2018, de modo que as entradas de IED representaram …
According to the balance-of-payments constrained growth model, an expansion of aggregate domestic demand is effective in increasing the long-run rate of growth of an economy to the extent that the performance of the external sector validates it. While the performance of the domestic economy is intertwined with that of the external sector, the balance-of-payments constraint on growth does not make these relationships explicit. This document addresses this issue and proposes a framework to make explicit the investment requirements with balance-of-payments constrained growth. This is done in two …
The U.S. economy expanded at a 33.1% annual rate in the third quarter; market projections suggest a decline of about 4% in 2020.
The pandemic has created unprecedented volatility in economic growth this year, with the record-shattering decline in real GDP in the second quarter followed by a similarly record-breaking gain in the third. The U.S. economic expansion in the third quarter of 2020 followed a decrease of 31.4% in the second quarter and 5% in the first, with the third-quarter gain reversing about 75% of the prior decline.
Economic forecasts project a slowdown in the final qu…
The Latin America and the Caribbean region will experience a contraction of -7.7% in 2020 but will have a positive growth rate of 3.7% in 2021, due mainly to a statistical rebound that will nonetheless be insufficient for recovering the economic activity levels seen prior to the coronavirus pandemic (in 2019), ECLAC indicated today in a new report.
ECLAC released its Preliminary Overview of the Economies of Latin America and the Caribbean 2020 – one of the United Nations organization’s flagship annual reports – during a virtual press conference given by its Executive Secretary, Alicia Bárcena.…
La región de América Latina y el Caribe marcará una contracción de -7,7% en 2020, pero tendrá una tasa de crecimiento positiva de 3,7% en 2021, debido principalmente a un rebote estadístico que, sin embargo, no alcanzará para recuperar los niveles de actividad económica pre-pandemia del coronavirus (en 2019), indicó hoy la CEPAL en un nuevo informe.
La CEPAL dio a conocer su Balance Preliminar de las Economías de América Latina y el Caribe 2020, uno de los principales reportes anuales del organismo de las Naciones Unidas, en una conferencia de prensa virtual ofrecida por su Secretaria Ejecutiv…
A região da América Latina e Caribe terá uma contração de -7,7% em 2020, mas terá uma taxa de crescimento positiva de 3,7% em 2021, devido principalmente a um arraste estatístico que, no entanto, não será suficiente para recuperar os níveis de atividade econômica pré-pandemia do coronavírus (em 2019), indicou hoje a CEPAL em um novo relatório.
A CEPAL divulgou seu Balanço Preliminar das Economias da América Latina e do Caribe 2020, um dos principais relatórios anuais da Comissão das Nações Unidas, em uma coletiva de imprensa virtual apresentada por sua Secretária-Executiva, Alicia Bárcena.
Se…
The U.S. economy expanded at a 33.1% annual rate in the third quarter of 2020, following a decline of 31.4% in the second quarter and 5% in the first. The third-quarter gain reversed about 75% of the prior decline. The pandemic has created unprecedented volatility in economic growth this year, with the record-shattering decline in real GDP in the second quarter followed by a similarly record-breaking gain in the third. Economic forecasts project a slowdown in the final quarter of the year, however, because of the recent surge in COVID-19 cases and some tighter restrictions that have been imple…
The Economic Commission for Latin America and the Caribbean (ECLAC) will present next Wednesday, December 16 its flagship annual report entitled Preliminary Overview of the Economies of Latin America and the Caribbean 2020, which examines the performance of the region’s economies this year and updates growth figures and other indicators that reflect the impact countries have borne as a result of the COVID-19 crisis.
More specifically, the document will contain new Gross Domestic Product (GDP) estimates for the region and all of its countries in 2020, and it will provide a first growth estimate…
La Comisión Económica para América Latina y el Caribe (CEPAL) presentará el próximo miércoles 16 de diciembre su informe anual (flagship) Balance Preliminar de las Economías de América Latina y el Caribe 2020, en el cual examina el comportamiento de las economías de la región durante el año, y actualiza las cifras de crecimiento y otros indicadores que reflejan el impacto sufrido por los países de la región a raíz de la crisis del COVID-19.
En particular, el documento presentará nuevas estimaciones del producto interno bruto (PIB) para la región y todos sus países en 2020, y entregará una prim…
A Comissão Econômica para a América Latina e o Caribe (CEPAL) apresentará na próxima quarta-feira, 16 de dezembro, o seu relatório anual: Balanço Preliminar das Economias da América Latina e do Caribe 2020, em que examina o comportamento das economias da região durante o ano, e atualiza os números de crescimento e outros indicadores que refletem o impacto sofrido pelos países da região em decorrência da crise da COVID-19.
O documento apresentará principalmente as novas estimativas do produto interno bruto (PIB) para a região e todos os seus países em 2020, e mostrará uma primeira estimativa de…
Este informe anual de la CEPAL examina no solo la evolución mundial y regional de las entradas de inversión extranjera directa (IED), sino también la contribución de estos flujos a los procesos de desarrollo productivo en la región. En el primer capítulo de la publicación se detallan los montos de inversión extranjera directa (IED) recibidos por cada país en 2019, se revisan los resultados de la década 2010-2019, se analiza el nuevo contexto internacional asociado a la pandemia del COVID-19 y se hace una proyección regional para 2020. En el segundo capítulo se estudia la reorganización de las …
A edição número 72 do Estudo Econômico da América Latina e do Caribe analisa os efeitos e desafios que a pandemia da doença causada pelo coronavírus (COVID-19) apresenta na região em 2020 e o panorama que se esboça para os próximos anos.
Este estudo consta de três partes. A primeira resume o desempenho da economia regional em 2019 e analisa a evolução durante os primeiros seis meses de 2020, bem como as perspectivas para o ano em seu conjunto. Examina os efeitos externos e internos derivados do combate à pandemia e sua incidência no desempenho econômico da região, com particular atenção à din…
This edition of the Employment Situation in Latin America and the Caribbean report, jointly prepared twice-yearly by the Economic Commission for Latin America and the Caribbean (ECLAC) and the Office for the Southern Cone of Latin America of the International Labour Organization (ILO) analyses the labour market trends in Latin America and the Caribbean amid the COVID-19 health crisis.…
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