Breaking away from Mediocre Complacency to a Prosperous Future

Claudio Loser and Anil Sood
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Claudio Loser: Claudio Loser is the CEO and President of Centennial Latin America, and an Advisor of the Emerging Markets Forum. He is also Senior Fellow at the Inter-American Dialogue. Since 2005 he has been Adjunct Professor at George Washington University. Formerly, he was the Director of the Western Hemisphere Department at the International Monetary Fund, Washington, DC. E-mail: claudio@centennial-group.com
Anil Sood: Anil Sood is a Director of the Emerging Markets Forum, and was formerly Vice President for Strategy at the World Bank. He has advised the chief executives of a number of development organizations, including the African Development Bank, the Islamic Development Bank, the United Nations Development Program, and the United Nations Economic Commission for Africa on matters of strategy and development effectiveness. E-mail: asood2@gmail.com

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
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Persistent link: https://EconPapers.repec.org/RePEc:sae:emeeco:v:3:y:2011:i:1:p:5-58

DOI: 10.1177/097491011000300102

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