1. Growth and Productivity in the Americas
- Author
-
Aguilar, Ana, Caballero, Julian, Frost, Jon, and Upper, Christian
- Subjects
Monetary policy -- Evaluation ,Labor productivity -- Growth ,Economic growth -- Forecasts and trends ,Company growth ,Market trend/market analysis ,Social sciences - Abstract
Across the Americas, low output and productivity growth are key policy challenges. Growth expectations for many countries have fallen in recent years, with Latin America and the Caribbean especially lagging behind emerging market peers. In many cases, total factor productivity growth has been negative for decades. This is due to several structural factors, including low overall investment, low educational attainment, high informality, and inadequate infrastructure. Going forward, 'nearshoring,' digitalization, and the energy transition offer opportunities to renew growth. It will be incumbent on authorities to grasp these opportunities., In most countries in the Americas, growth has slowed and inflation has come down in 2023-24. Yet several economies have proven more resilient than anticipated. Growth forecasts for 2024 have [...]
- Published
- 2024