20 Feb 2025, 00:00 - 14 Oct 2025, 07:49
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Latin America and the Caribbean is mired in a decades-long growth trap, and further hampered by global and regional conditions that limit the space for macroeconomic policies to spur economic growth in the region. The results of the Economic Survey of Latin America and the Caribbean, 2024 reveal weaker job creation, especially in the formal sector, with young people, women, older persons, migrants and rural dwellers among the most likely to be informal workers. In addition, an intensification of climate change effects will drastically reduce the number of jobs created in the medium term if mit…
4 Mayo 2021, 00:00 - 14 Oct 2025, 07:49
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The United States economy contracted by 3.5% in 2020 —the worst performance since the Second World War— but is currently expected to grow by an estimated 6.5% in 2021, the fastest pace in three decades. While there is optimism for the growth outlook this year and beyond, uncertainty and risks prevail.
The United States economic outlook: 2020 in review and early 2021 developments presents and analyses the developments in the United States economy in 2020 and early 2021, and examines how they could affect financial conditions in Latin America and the Caribbean. The report includes a gender focus…
31 Ene 2018, 00:00 - 14 Oct 2025, 07:50
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This paper examines the genesis and evolution of debt and debt overhang in the Caribbean with individual case studies, to extract lessons and make broad recommendations with regard to appropriate mechanisms and policy measures that can be implemented to reduce the debt burden of the subregion. The econometric model utilized in the paper has shown that a one percent increase on debt to GDP ratio causes a 0.015decline in real GDP growth for the countries in the Caribbean panel, suggesting that debt has a pernicious effect on growth on Caribbean economies. What is even more worrisome was that Car…
This document takes up a number of the points raised in the 2005 report by ECLAC and other UN agencies on the Millennium Development Goals (MDGs) in Latin America and the Caribbean. It provides further discussion on the type of problems and challenges facing the region in five areas that are either included in the MDGs or closely related to them (poverty, hunger and child malnutrition, education, health and children). The document makes recommendations for the region's governments and countries in these five areas.…
This document examines the implementation strategies and execution challenges of three major pieces of legislation that were signed into law in the United States in late 2021 and in 2022. Together they provide more than US$ 2 trillion in authorized funding and incentives for up to ten years to rebuild the country’s infrastructure, accelerate the transition to a green economy, and strengthen the domestic semiconductor industry while promoting job growth, workforce development, and equity. The scale of these laws, given the level of funding required, their complexity, given the multiplicity of g…
23 Nov 2022, 00:00 - 14 Oct 2025, 07:50
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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…
The ICMS represents the most important source of revenue for the Brazilian states and one of the most important taxes in Brazil. Unlike other VATs in the world, the ICMS is not collected by the central government. The ICMS is collected by the states (the intermediate level of government), which are able to fix the internal rates; a situation that reflects the fiscal autonomy of the different levels of government in Brazil. Similarly, the direct and unconditional transfers of 25% of the ICMS collection to the municipalities (the local level) show the high degree of autonomy at the sub–national …
1 Nov 2000, 00:00 - 14 Oct 2025, 07:50
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Abstract The region ended the 1990s with mixed results in the area of economic and social planning. The outcomes of planning exercises have varied depending on what is understood by the planning process or system in each country (agents, agencies, subjects, knowledge, political agenda, procedures, resource-allocation, target-image, institutional framework and others). On point that does emerge, however, is the need for the State to have an agency or representative through which it can perform basic, irreplaceable planning duties, whatever the style of development or reform adopted. These inclu…
1 Jun 1999, 00:00 - 14 Oct 2025, 07:50
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Introduction
Based on the evidence of the last few decades, it is widely
accepted that the State can be an obstacle to development. The corollary to this, of course, is that public policy can play a pivotal role in creating a growth-oriented environment and in promoting change. Not surprisingly, the major thrust of the structural reforms of recent years has been in creating a more effective State that can work in partnership with the private sector for the public good. An appropriate regulatory and institutional framework is critical to the functioning of both the financial and real sectors. I…
The external and internal imbalances that appeared in the early 1980s, together with the adjustment and stabilization policies applied throughout that decade in Latin America, juxtaposed the need to reduce the fiscal deficit with the need to make up for the loss of income sustained by the most vulnerable groups of the population as a consequence of the external debt crisis. This article examines patterns of social expenditure in a number of countries in the region, in an effort to determine how these policies affected the level and composition of social spending and, hence, influenced social p…
18 Mar 2024, 00:00 - 14 Oct 2025, 07:50
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This overview examines the economic performance of economies of the Caribbean in 2022 and comprises four chapters. The first chapter provides a comparative analysis across Caribbean economies of the main macroeconomic variables, namely GDP growth, monetary indicators, as well as fiscal and external accounts. The second chapter concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, Trinidad and Tobago, and a subregional assessment of the countries of the Eastern Caribbean Currenc…
17 Ene 2023, 00:00 - 14 Oct 2025, 07:50
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This overview examines the economic performance of economies of the Caribbean in 2021 and comprises four chapters. The first chapter provides a comparative analysis across Caribbean economies of the main macroeconomic variables, namely GDP growth, monetary indicators, as well as fiscal and external accounts. The second chapter concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, Trinidad and Tobago, and a subregional assessment of the countries of the Eastern Caribbean Currenc…
13 Mayo 2022, 00:00 - 14 Oct 2025, 07:50
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This overview examines the economic performance of economies of the Caribbean in 2020 and comprises four chapters. The first chapter provides a comparative analysis across Caribbean economies of the main macroeconomic variables, namely GDP growth, monetary indicators, as well as fiscal and external accounts. The second chapter looks at areas of focus in the Caribbean. The third chapter concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname and a subregional assessment of the coun…
24 Jun 2020, 00:00 - 14 Oct 2025, 07:49
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This overview examines the economic performance of economies of the Caribbean in 2019 and comprises four chapters. The first chapter provides a comparative analysis across Caribbean economies of the main macroeconomic variables, namely GDP growth, monetary indicators, as well as fiscal and external accounts. The second chapter looks at areas of focus in the Caribbean. The third chapter concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname and a subregional assessment of the coun…
17 Abr 2020, 00:00 - 14 Oct 2025, 07:50
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The present study seeks to explore how fiscal policies can employed to deliver both socioeconomic and environmental dividends with a focus on Brazil as a case study. In the current context where the global economy in general and Brazil’s economy in particular are struggling to reinvigorate, whereas disregarding environmental concerns is a hazard for long-term economic development itself, the focus is thus on reviewing the recent literature that seeks to reconcile a stronger economic and social performance based on fiscal instruments that foster sustainable investments. An overview of the theor…
1 Feb 2012, 00:00 - 14 Oct 2025, 07:50
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When studying tax issues in Latin America, along with any regional perspective, individual country differences must be taken into account. Despite this regional diversity, the tax systems of the vast majority of Latin America's countries share certain key characteristics: the composition of their tax structures; the technical, economic, political and administrative constraints they face; current trends in tax policy and administration; and a high estimated level of tax evasion.
Today's globalized world calls for the need to align tax policies and administrations with those used in ot…
1 Oct 2011, 00:00 - 14 Oct 2025, 07:50
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The global economic recession which affected most of the Caribbean would have been less severe if policymakers were in a position to sustain fiscal stimulus packages for a longer duration. This paper argues that while the crisis aggravated the debt and fiscal situation, the negative fiscal and current account balances reflected long standing issues related to declining competitiveness. To address the challenging fiscal situation, a number of countries are pursuing fiscal consolidation programmes, many of which imply expenditure cuts and revenue increases. Implicit in such programmes is that th…
1 Ene 2011, 00:00 - 14 Oct 2025, 07:50
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The chronic inequality that characterized Latin America and the Caribbean has its roots not only in the region’s history but also in a pattern of development and modernization that perpetuated the socio-economic gaps. Very recently, however, the region experienced a period of sustained growth between 2003 and 2008, in which the indicators of poverty, indigence and even concentration of income improved, breaking, although for a short period, the so-called “empty box” of Fernando Fajnzylber. It is well known that the state can promote greater social equity through more effective public policies.…
9 Mar 2009, 00:00 - 14 Oct 2025, 07:50
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This report addresses the main features of the evolution of Caribbean economies during 2008 and, especially, the prospects for 2009 in the context of the ongoing international financial crisis and economic turmoil. As is well known, small open economies, such as those of the Caribbean, are highly influenced by developments in the world economy through a variety of channels of transmission that include international trade, tourist arrivals, remittances, Foreign Direct Investment (FDI) and external financing. The intensity of these effects will depend, among other things, on the fiscal position,…
18 Jun 2004, 00:00 - 14 Oct 2025, 07:50
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Presentation
The countries of the Latin American and Caribbean region have shown a keen
and lasting interest in mechanisms of economic development and public policies for its
promotion. This is a process in which ECLAC has been involved ever since it was founded
over half a century ago. Today, the debate on these issues continues against the backdrop
of a globalization process in which the remarkable dynamism of some dimensions
-especially its economic, financial and cultural aspects- contrasts with the
slow formation of an institutional network capable of coping with the increased
interdepend…