The social partnership process is acknowledged by most independent observers as an important cornerstone underpinning the rapid economic growth of Ireland. It is seen as a virtuous circle in the economy between government, employers, labor, farmers and voluntary groups encompassing pay, profitability, investment, employment and tax reform. It means that all groups in Irish society have a stakeholding in economic and social progress and in the strengthening of social cohesion. The real secret behind the success of the Irish social partnership model can be summarized in one phrase - a shared u…
The Finish case of industrial renewal from essentially natural-resource- based industries toward machinery, engineering, electronics, and ICT is of particular relevance for Latin-American countries. The study explains the crucial role of the finish innovation system and the long-term public-private partnership in the industrial transformation towards a higher knowledge intensity and value added economy. The report recognizes the importance of innovation investments, but estimates as equal essential consistent long term strategies on facilitating conditions to build up, cooperative, confidentia…
The Macroeconomics for development blue print for Latin America and the Caribbean is articulated around two issues: an active strategy of productive development and a counter cyclical policy stance. Macroeconomic counter cyclicality refers to the management of the level of aggregate demand to dampen the fluctuations and volatility of real and nominal variables around their long-term trends. This paper argues that cycle and trend are interdependent and that, as a result, counter cyclical policies (i.e., aggregate demand policies) are not neutral to the long-run behaviour of economies.…
The second Caribbean Development Roundtable hosted by the Economic Commission for Latin America and the Caribbean, was held in Guyana, in May 30, 2012. The theme of the meeting was “Macroeconomic Policy for Structural Transformation and Social Protection in Small Sates.”
The participants included the Ministers of Finance of Guyana and of Trinidad and Tobago, the Honourable Ashni Singh and the Honourable Winston Dookeran, and high level policy-makers and regional and international experts. Special guests were a delegation from Brazil.…
The current survey provides an overview of the economic performance for 2013 of the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, Trinidad and Tobago plus the eight member states of the Eastern Caribbean Currency Union (ECCU) and the outlook for 2014 and 2015. Data were collected from a review of reports from national governments and through interviews with government officials in each of the countries analyzed.…
Abstract This paper uses a political economy approach to examine the nature and social impact of Ireland's economic 'miracle', namely the period of high economic growth known as the 'Celtic Tiger', which lasted from 1995 until 2000. Its principal purpose is to offer a broad and multifaceted reading of this period of Irish development, paying particular attention to the links between macroeconomic success and social vulnerability, in order to draw policy lessons for Latin America. The examination of the Celtic Tiger is prefaced by a brief introduction to some of the sa…
(*) This document was prepared by André A. Hofman of the Economic Projections Center of the Statistics Division, and Heriberto Tapia research assistant in the office of the Executive Secretary of ECLAC. The views expressed in this document, which has been reproduced without formal editing, are those of the authors and do not necessarily reflect the views of the Organization.. Abstract Potential output estimates are becoming increasingly important in policy design in Latin America (ECLAC, 2002) and the objective of this paper is to make a methodological contribution to this field of work…
Hubert Escaith is Director of Statistics and Economic Projections Division, ECLAC. The views expressed in this document, which has been reproduced without formal editing, are those of the authors and do not necessarily reflect the views of the Organization.. This paper was prepared for the REDIMA workshop on Modeling Macroeconomic Coordination in the Andean Community, Santiago, Chile 22 October 2003. Introduction The early 1990s opened a new era for the analysis of economic interactions between Latin America and Caribbean (LAC) countries. Two channels, real and financial, conveyed th…
Foreword In contrast to its situation during the lost decade , in the 1990s the Latin American and Caribbean region regained its access to international capital markets. Its return to these markets, in combination with a commitment to achieving basic macroeconomic equilibria, was manifested in smaller fiscal deficits and lower inflation, but the region has recovered only part of the ground it had lost in terms of its pace of economic growth. Thus, the region's economies have not been growing fast enough to strengthen their labour markets or to reduce poverty significantly. …
Abstract:
The global financial crisis that emerged in developed countries' markets revealed the shortcomings of an economic policy approach which believed in the self-regulation of markets and minimized the role of the State. The post-crisis reality demands a reformulation of the role of the State. Latin America and the Caribbean countries face this challenge in a context of ongoing changes in the world production structure that threaten its position in the global economy. Although many Latin American and Caribbean countries were successful in overcoming the crisis, four key areas of policymak…
This article puts forth a hypothesis and a challenge.
The hypothesis: structural change in the international economy and in the management of public policy has brought about changes in economic performance, affected employment,
poverty, and equity and resulted in greater insecurity and
uncertainty. The challenge: coping with this insecurity and
uncertainty despite public policy's abandonment of its
historical role and the lack of success thus far of the new
approaches. This study points to the greater vulnerability
today stemming from the labour market as well as
asymmetries in trends in …
Esta edición de Perspectivas económicas de América Latina: Avanzando juntos hacia una mejor recuperación analiza y ofrece recomendaciones de política pública para una recuperación fuerte, inclusiva y sostenible en la región. El informe explora las acciones necesarias para mejorar los mecanismos de protección social y promover la inclusión social, fomentar la integración regional y fortalecer las estrategias industriales, y repensar el contrato social para restaurar la confianza y empoderar a los ciudadanos en todas las etapas del proceso de elaboración de políticas públicas. Además, resalta la…
On May 26th, the ECLAC office in Brasilia, together with the Brazilian Global Compact Network, held a webinar about the Big Push for Sustainability , in which more than 60 case studies of investments for sustainable development in Brazil were presented.…
This book is motivated by the emerging rehabilitation of industrial policies as a tool for supporting economic transformation and high rates of growth in developing countries. It argues that underperforming disciples of the Washington Consensus 'market fundamentalism' should learn and practice the art of systemic industrial policies, which requires a medium-long term strategic perspective and intelligent proactive state interventions in markets. However, it also stresses that rehabilitation requires that industrial policies be developed and implemented in a context of home- grown pub…
(19 de mayo, 2014) El Secretario General de la Organización para la Cooperación y el Desarrollo Económicos (OCDE), Ángel Gurría, abrirá el Segundo Foro Económico Europa-América Latina el día 20 de mayo en París. Estará acompañado en la inauguración por la Secretaria Ejecutiva de CEPAL, Alicia Bárcena, y por el Director de la Escuela de Economía de París, Pierre-Yves Geoffard.
La reunión, que durará dos días, está coorganizada por la Comisión Económica para América Latina y el Caribe (CEPAL) y por la Escuela de Economía de París (PSE por sus siglas en inglés) y pretende impulsar el diálogo acer…
Global antidumping activity peaked in 2001, with 366 petitions initiated world-wide, and rapidly diminished to just 163 cases in 2007. With the onset of the current major world-wide recession some observers feared that antidumping usage would climb dramatically; however while antidumping activity was up by 28% in 2008 (to 208 cases initiated, according to WTO statistics), the rise was not nearly commensurate with the financial distress, and new antidumping initiations for the first three quarters of 2009 -at 154 cases- are on pace to show little change for the full year compared to the previou…