Growing Pains in Latin America lays out and applies a region-specific framework for delivering sustainable economic growth. A task force of experts led by CGD senior fellow Liliana Rojas-Suarez and MIT professor Simon Johnson describes the framework, its (simple) principles, and its flexibility and ability to adapt. Other experts then apply the framework to Brazil, Colombia, Costa Rica, Mexico, and Peru, providing specific policy recommendations while taking into account the unique conditions of each country. In an introductory essay, Rojas-Suarez explains and contextualizes the need for a new approach to growth in Latin America. Comprehensive yet flexible, the recommendations in Growing Pains can be applied to all of Latin America and will be valuable to anyone concerned with growth, prosperity, and equality in the region. Book jacket.

This paper estimates the fiscal costs of population aging in Latin America and provides policy recommendations on reforms needed to make these costs manageable. Although Latin American societies are still younger than most advanced economies, like other emerging markets the region is already in a process of population aging that is expected to accelerate in the remainder of the century. This will directly affect fiscal sustainability by putting pressure on public pension and health care systems in the region that are already more burdened than, for example, in emerging Asia, a region with a similar demographic structure. A stylized cross-country exercise, drawing on demographic projections from the United Nations and methodologies developed by the IMF to derive public spending projections, is used to quantify long-term fiscal gaps generated by population aging in 18 Latin American countries. Several aspects of current pensions and health care systems in Latin Amer-ica make the region’s long-term fiscal positions particularly vulnerable to population aging.

This paper estimates the fiscal costs of population aging in Latin America and provides policy recommendations on reforms needed to make these costs manageable. Although Latin American societies are still younger than most advanced economies, like other emerging markets the region is already in a process of population aging that is expected to accelerate in the remainder of the century. This will directly affect fiscal sustainabil-ity by putting pressure on public pension and health care systems in the region that are already more burdened than, for example, in emerging Asia, a region with a similar demographic structure. A stylized cross-country exercise, drawing on demographic projections from the United Nations and methodologies developed by the IMF to derive public spending projections, is used to quantify long-term fiscal gaps generated by population aging in 18 Latin American countries.1 Several aspects of current pensions and health care systems in Latin Amer-ica make the region’s long-term fiscal positions particularly vulnerable to population aging.

Environmental management is a global phenomenon, embracing all businesses in all countries, whether or not there already exists an organised response to managing environmental impacts. Today, there are gross inequalities between the world's richest and poorest nations in terms of income distribution, consumption patterns, access to resources and environmental impact. Yet both the developed north and the developing south are committed, at least in words, to achieving sustainable development. Public awareness of environmental issues in the North has been rising in recent years and further degradation is now largely minimized through more stringent regulatory regimes, voluntary agreements and growing consumer and stakeholder pressure on corporations. Still, the north is continuing to lead an environmentally unsustainable lifestyle as environmental improvements are nullified by overall increases in consumption levels. In the south, a billion people still do not have access to the most basic needs. Poor countries need to accelerate their consumption growth if they are to ensure that the lives of their people are enriched. However, with rapid economic growth and corresponding increases in consumption now under way, their environmental impact is soon to become substantially greater. In a world that strives towards stemming global crises such as climate change, the path already taken by the rich and high-growth economies over the past century cannot be repeated by the south if the desired objective is to create a future that is truly sustainable. Growing Pains examines environmental management in the south from a number of perspectives. It is designed to stimulate the discussion about the role that corporations and national and international organizations play in sustainable development. It does not offer panaceas, as each country has its own problems and opportunities; and, after almost 50 years of failed panacea-oriented economic development policy transfer from the north to the south, it is time to abandon hope for universal solutions and instead look to individual approaches that work. The book is divided into five themes: globalization; the role of business; a focus on national strategies; trade and the environment; and the organizational and structural challenges of sustainable development. With contributions from an outstanding collection of authors in both the developed and developing worlds including UNIDO; the Thailand Environment Institute, Arthur D. Little, Inc., Shell Peru; IUCN, the Russian Academy of Sciences and IIED, this important and unique new book presents a body of work that will provide essential reading for businesses working in developing countries, environmental and developmental NGOs and researchers engaged in the debate and sharing of best practice in this increasingly critical subject area.