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Consumo y crecimiento en América Latina y el Caribe: las luces del bienestar y las sombras de la sostenibilidad

Andrés Rius and Carolina Román ()

No 15-10, Documentos de Trabajo (working papers) from Instituto de Economía - IECON

Abstract: Latin America and the Caribbean experienced outstanding economic growth in the last 10-15 years, which has been accompanied -and to some extent, driven- by increases in private consumption (CEPAL 2014). These higher levels of consumption have extended the access to valuable goods and service for less favored segments of the income scale, and luckily they have not crowded out investment. However, as it is in the conventional wisdom in Latin America, given certain conditions, consumption booms may lead to another crisis. This article organizes and presents most recently available evidence and interpretations from the literature, to critically describe what is known and what is not regarding the behavior of agents, and the pertinent prevention and response policies to stimulate savings, and keep consumption sustainable.

Keywords: consumption; Latin American and the Caribbean; economic growth and development (search for similar items in EconPapers)
JEL-codes: E21 N16 O11 (search for similar items in EconPapers)
Pages: 55 pages
Date: 2015-08
New Economics Papers: this item is included in nep-mac
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