Latin America 2040 — Breaking Away from Complacency: An Agenda for Resurgence

This book presents a long term vision of Latin American society and economies, within which current policy debates and actions must be anchored. It presents a set of multigenerational issues that must be tackled in order for countries in the region to reduce inequities, as well as raise their economic growth rates. The authors provide insight and advice regarding: budgetary policy and management, poverty reduction, macroeconomic policy coordination and integration, labor market policy, long-term macroeconomic reforms, innovation and technological development, infrastructure needs, regional cooperation and trade, and governance and political sustainability. This book provides an analysis of the challenges facing economic growth, equality, public safety, education, competitiveness and technology and innovation. In doing so, the authors analyze the reasons for Latin America’s underperformance during the past 30 years, highlighting the issues related to unsustainable economic, social and political policies. The analysis is based on an innovative instrumental-variable-based structural equation model, developed by the Centennial Group. It is used to project the infrastructure needs of 21 countries for 10 sectors through 2040 under alternate growth scenarios. Latin America 2040 presents a strategy to realize the vision for rapid economic growth and faster reduction in disparities during the next three decades by sharply raising their growth rates while achieving more inclusive societies. It offers an agenda for what Latin America’s national leaders, policy makers and private businesses must do to regain the regions past momentum and achieve a much needed resurgence. A Spanish translation of the book will be available in October 2011. A companion video, based on the key messages of the book, can also be viewed.