The 2019 edition of the Economic Survey of Latin America and the Caribbean consists of three parts. Part I outlines the region’s economic performance in 2018 and analyses trends in the early months of 2019, as well as the outlook for the rest of the year. It examines the external and domestic factors that have influenced the region’s economic performance, analyses the characteristics of economic growth, prices and the labour market. It also draws attention to some of the macroeconomic policy challenges, given that there is less space to implement such policies against a backdrop of continuing …
En su edición correspondiente a 2019, el Estudio Económico de América Latina y el Caribe consta de tres partes. En la primera se resume el desempeño de la economía regional en 2018 y se analiza su evolución durante los primeros meses de 2019, así como las perspectivas para el año en su conjunto. Se examinan los factores externos e internos que han incidido en el desempeño económico de la región y se analizan las características del crecimiento económico, así como la evolución de los precios y del mercado laboral. Por último, se destacan las características y algunos de los desafíos que se plan…
The Economic Commission for Latin America and the Caribbean (ECLAC) will present its annual report Economic Survey of Latin America and the Caribbean 2019 on Wednesday, July 31, at 11 a.m. (GMT -4) at the organization’s headquarters in Santiago, Chile.
The report, which will provide updated economic growth projections for the countries of the region, will be unveiled at a press conference led by the Executive Secretary of the United Nations regional organization, Alicia Bárcena. The launch will also be transmitted live via the Internet on the institution’s website (www.cepal.org).
The Economic…
La Comisión Económica para América Latina y el Caribe (CEPAL) presentará su informe anual Estudio Económico de América Latina y el Caribe 2019 el próximo miércoles 31 de julio, a las 11:00 a.m. (GMT -4 hrs.) en la sede principal del organismo en Santiago de Chile.
El reporte, que entregará proyecciones de crecimiento económico actualizadas para los países de la región, será dado a conocer en una conferencia de prensa encabezada por la Secretaria Ejecutiva del organismo regional de las Naciones Unidas, Alicia Bárcena. El lanzamiento será transmitido también en directo por internet en el sitio w…
A Comissão Econômica para a América Latina e o Caribe (CEPAL) apresentará o relatório anual Estudo Econômico da América Latina e do Caribe 2019 na quarta-feira, 31 de julho, às 11h do Chile (12h de Brasília) na sede principal da CEPAL, em Santiago, Chile.
O relatório apresentará as projeções atualizadas de crescimento econômico para os países da região e será divulgado em uma coletiva de imprensa liderada pela Secretária-Executiva do organismo regional da ONU, Alicia Bárcena. O lançamento será transmitido ao vivo pelo site da CEPAL (www.cepal.org).
Haverá transmissão ao vivo também, por videoc…
Highlights:
• In the first quarter of 2019, the U.S. economy grew at an above-trend annualized rate of 3.1%, despite the government shutdown and concerns about residual seasonality. Growth was driven by exports and a buildup in inventories.
• In May, U.S. employers added just 75,000 jobs, one of the smaller gains since the recession ended in mid-2009.
• U.S. consumer price inflation moderated in May, suggesting inflationary pressures remain muted. Over the last 12 months, the all items Consumer Price Index (CPI) rose 1.8%. The core CPI was up 2.0%.
• The U.S. current account deficit fell to US…
This paper analyses the role that Multilateral Development Banks (MDBs) have played in financing development in Latin America and the Caribbean (LAC) and what their role will be in support of the Sustainable Development Goals (SDGs). In a context where multilateralism is severely questioned, donor countries are moving their resources away from middle-income countries, and MDBs' lending represents a decreasing share of total debt in the region, we show that there is room for MDBs to continue being relevant players.…
The U.S. debt burden became heavier as a result of the unprecedented policy response to the global financial crisis and economic recession, and it has continued to grow. On March 11, the U.S. administration unveiled a US$ 4.75 trillion budget proposal that projects debt held by the public will hit US$ 22.8 trillion by 2025, more than 50% higher than in 2017, when debt held by the public was US$ 14.7 trillion. Regarding short-term prospects, total U.S. debt is expected to reach a statutory limit known as the “debt ceiling” later this year, which will require a congressional vote to raise the ce…
This article reviews the trend of investment in Chile and its relationship with economic growth since the 1973 coup d’état; and it documents how investment remains the main growth driver. Notwithstanding that fact, innovation helps to mitigate diminishing returns from natural resources, while technology-intensive investment, such as broadband infrastructure, helps to diversify the production matrix. The article shows how a persistent increase in the investment ratio in 1990–1998 supported GDP growth of 7.1% per year; but since 1999 investment has wavered, and average growth dropped to below 4%…
Se examina la evolución de la inversión en Chile y su vinculación con el crecimiento económico desde el golpe de Estado de 1973, documentándose cómo continúa siendo determinante principal del crecimiento. La innovación, por su parte, facilita la superación de rendimientos decrecientes de los recursos naturales; la inversión intensiva en tecnología, como la infraestructura de banda ancha, contribuye a diversificar la matriz productiva. Se expone cómo la persistente expansión de la tasa de inversión en 1990-1998 sustentó un crecimiento del PIB del 7,1% anual, pero desde 1999 la inversión experim…
This paper uses Fajnzylber and Mandeng’s competitiveness matrix to analyse the evolving structure of Argentine exports between 1985 and 2010. In particular, it seeks to identify links between the country’s export pattern, in which natural resources predominate, and the evolving structures of different markets: the Organization for Economic Cooperation and Development (OECD), the Southern Common Market (MERCOSUR), the developing countries of Asia and the world. One of the main conclusions is that, although historically it has been the developed countries that have been responsible for the domin…
Se analiza la evolución de la estructura de las exportaciones argentinas entre 1985 y 2010, utilizando la matriz de competitividad de Fajnzylber y Mandeng. En particular, se busca identificar vínculos entre el patrón de exportaciones del país, en el que predominan los recursos naturales, y la evolución de la estructura de diversos mercados: la Organización de Cooperación y Desarrollo Económicos (OCDE), el Mercado Común del Sur (MERCOSUR), los países en desarrollo de Asia y el mundo. Una de las principales conclusiones es que, aunque históricamente han sido los países desarrollados los que han …
This study examines the underinvoicing of exports of copper concentrates and refined copper cathodes from Chile and Peru. A novel methodology, which takes the industry’s standard contractual terms and insurance and freight costs into account, is used to reveal the existence of below-market unit prices in copper trading. A sharp decline since 2011 in the extent of underinvoicing reflects improvements in the area of international taxation in the two countries; however, this progress represents no more than the first steps towards the establishment of a strong enough legal framework and instituti…
Aquí se examina el grado de subfacturación de las exportaciones de productos del cobre —concentrados de cobre y cátodos de cobre refinado— de Chile y el Perú. Mediante la aplicación de una metodología novedosa en la que se toman en cuenta los términos contractuales típicos de la industria y los costos del seguro y el flete, se pone de manifiesto la existencia de transacciones comerciales de cobre a precios unitarios inferiores al valor de mercado. A partir de 2011 se observa una reducción importante del monto subfacturado, lo que refleja las mejoras en el ámbito de la tributación internacional…