Breaking away from Mediocre Complacency to a Prosperous Future

Claudio Loser and Anil Sood
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Claudio Loser: Centennial Group International and the Emerging Markets Forum
Anil Sood: Centennial Group International and the Emerging Markets Forum

Global Journal of Emerging Market Economies, 2011, vol. 3, issue 1, 5-58

Abstract: Latin America has been one of the most prosperous regions among the group of emerging economies. However, particularly in recent decades, Latin America has not managed to keep up with the growth of other emerging economies. This article lays out some reasons to explain the region’s lackluster economic growth. It proposes that the region and its leaders need to promote a vision of a vibrant, fastgrowing economic region where more inclusion, higher productivity, and increased competition and openness are the objects of national policy. While no regions are equivalent, the example of East Asia, even with its own vulnerabilities provides important lessons for Latin America, as it devises policies to free it from the middle-income trap.

Keywords: Latin America; economic growth; inclusion; productivity; competition; middle-income trap; investment; human capital; infrastructure (search for similar items in EconPapers)
Date: 2011-12
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