Economic Survey of Latin America and the Caribbean 2015: Challenges in boosting the investment cycle to reinvigorate growth

The 2015 edition of the Economic Survey of Latin America and the Caribbean consists of three parts. Part I outlines the region’s economic performance in 2014 and analyses trends in the first half of 2015, as well as the outlook for the rest of the year. Part II analyses the dynamics of investment in Latin America and the Caribbean, the relationship between investment and the business cycle, the role of public investment, infrastructure gaps and the challenges in financing private investment. Part III of this publication may be accessed on the web page of the Economic Commission for Latin America and the Caribbean (http://www.cepal.org/en/node/33006). It contains the notes relating to the economic performance of the countries of Latin America and the Caribbean in 2014 and the first half of 2015, together with their respective statistical annexes, which present the main economic indicators of the countries of the region. The cut-off date for updating the statistical information in this publication was 30 June 2015.

Tributación en América Latina: en busca de una nueva agenda de reformas

Incluye Bibliografía

Millennium development goals: progress towards the right to health in Latin america and the Caribbean

Includes bibliography

Two decades of adjustment and agricultural development in Latin America and the Caribbean

Includes bibliography

Weak expansions: a distinctive feature of the business cycle in Latin America and the Caribbean

Using two standard cycle methodologies (Classical and Deviation Cycle) and a comprehensive sample of 83 countries worldwide, including all developing regions, we show that the Latin American and Caribbean cycle exhibits two distinctive features. First, and most importantly, its expansion performance is shorter and for the most par less imtense than that of the rest of the regions considered, and in particular than that of East Asia and the Pacific, East Asia and the Pacific's expansions last five years longer than those of LAC, and its output gain is 50% greater than that of LAC. Second, LAC tends to exhibit contractions that are not significantly different in terms of duration and amplitude than t those of other regions. Both these features imply that the complete Latin American and Caribbean cycle has, overall, the shortest duration and smallest amplitude in relation to other regions. The specificities of the Latin American and Caribbean cycle are not confined to the short run. These are also reflected in variables such as productivity and investment, which are linked to long-run growth. East Asia and the Pacific's cumulative gain in labor productivity during the expansionary phase is twice that of LAC. Moreover, the evidence also shows that the effects of the contraction in public investment surpass those of the expansion leading to a declining trend over the entire cycle. In this sense we suggest that policy analysis needs to increase its focus on the expansionary phase of the cycle. Improving our knowledge of the differences in the expansionary dynamics of countries and regions, can further our understanding of the differences in their rates of growth and levels of development. We also suggest that while, the management of the cycle affects the short-run fluctuations of economic activity and hence volatility, it is not trend neutral. Hence, the effects of aggregate demand management policies may be more persistent over time and less transitory than currently thought.

Los sistemas nacionales de inversión pública en Barbados, Guyana, Jamaica y Trinidad y Tabago

Incluye Bibliografía

Two decades of adjustment and agricultural development in Latin America and the Caribbean

Includes bibliography

Fiscal policy and the economic cycle in Chile

Includes bibliography

Colombia: capital público y productividad de la industria manufacturera

Incluye Bibliografía

República Dominicana: evolución económica durante 2005 y perspectivas para 2006

Incluye Bibliografía

El papel del mercado interno en la dinamización del crecimiento en la subregión norte de América Latina

Incluye Bibliografía

ECLAC Notes Nº 42

Latin America and the Caribbean's Trade Rises for the Second Year Running China Seeking to Strengthen Economic Ties with Latin American Countries Op-ed by José Luis Machinea: A New Phase in Regional Integration Highlights by Ricardo Ffrench-Davis: Financial Crises in Emerging Economies: Not Just Bad Luck nor Pure Contagion Indicators It's Time to Reduce the Bias Against Public Investment Recent Titles Calendar

Towards diversification of the tourism sector: A recreational demand study of yachting and marina services in the Caribbean

Includes bibliography.