In 1960, average income in Latin America was only about 20 percent of that in the United States. Almost sixty years later, Latin Americans find themselves in largely the same position, despite remarkable economic progress in other developing regions. “Institutions for Productivity: Towards a Better Business Environment,” a new report from CAF-Development Bank of Latin America, points to low productivity as a primary culprit for the region’s limited capacity to transform productive resources into high-quality goods and services. But the authors also note the outsize influence of the region’s economic institutions, de jure and de facto, on firm-level outcomes, which results in low productivity across all of the region’s economic sectors.
The report proposes a series of concrete, actionable steps to achieve productivity growth, focusing on the many ways in which Latin American economic institutions affect the environment in which companies operate.
Join us on Friday, April 26 at the Inter-American Dialogue for a presentation of key findings and timely policy recommendations from CAF’s flagship report, followed by expert discussion of the region’s persistent productivity challenge and how best to address it.
Follow this event on Twitter @The_Dialogue.
Chief Economist and Vice President of Knowledge, CAF-Development Bank of Latin America
Professor of Economics, University of Maryland
Senior Fellow, Peterson Institute for International Economics (@_AnabelG)
Senior Director, Global Government Affairs (Americas & Africa), Walmart
Director, Asia & Latin America Program, Inter-American Dialogue (@MyersMargaret)