Latin America and the Caribbean Poverty and Labor Brief, June 2013: Shifting Gears to Accelerate Shared Prosperity in Latin America and the Caribbean
World Bank Publications, 31 iul. 2013 - 48 pagini
Latin America and the Caribbean (LAC) have made laudable progress in the past fifteen years in reducing poverty, building the middle class, and promoting prosperity for all levels of society. Recently, the World Bank announced a twin strategy for going forward: (1) to end extreme poverty at the global level by 2030; and (2) to promote shared prosperity. This brief reviews LAC's progress toward these objectives, outlines the continuing challenges, and proposes a policy framework for keeping the region on its upward arc and picking up the speed. The World Bank's indicator of shared prosperity underscores that recent years' economic expansion in LAC has benefited the less well-off. But despite LAC's strong gains in shared prosperity, going forward it faces significant hurdles to delivering the sustained high levels of economic growth and welfare gains that many other regions of the world have achieved. Reform agendas that are underway in a number of the region's countries are helping acclerate shared prosperity. The region now needs second-generation reforms that will reinforce the "virtuous cycle" of economic growth and equity to foster shared prosperity. This brief highlights four important policy themes that LAC vountries should consider to keep on track in the years ahead.
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accelerate shared prosperity Andean Region applied when country Argentina Authors’calculations using SEDLAC averages of country benchmark beneﬁted Bolivia Brazil Caribbean Central America Chile chronic poor Class in LAC Colombia Costa Rica country data Decile Dominican Republic economic growth Ecuador EDLAS El Salvador Encuesta Nacional Encuesta Permanente extreme poverty line Ferreira Figure ﬁgure shows Food Prices GDP per capita Gini coefﬁcient Guatemala Headcount Honduras Ill-I Ill-l income inequality inequality reduction interpolation was applied LABLAC labor income LAC countries LAC region Latin America level are population-weighted market income Mexico Mexico and Central middle class Moderate poverty National natural disasters Nicaragua OECD OECD countries Paes de Barros Panama Paraguay Peru population population-weighted averages poverty line poverty rates poverty reduction prosperity in LAC region includes regional level Salvador SEDLAC data CEDLAS Sen’s Welfare Index signiﬁcant Source Southern Cone Southern Cone extended transient poor urban areas Uruguay vulnerable World Bank