The 2018 edition of the Economic Survey of Latin America and the Caribbean, its seventieth issue, consists of three parts. Part I outlines the region's economic performance in 2017 and analyses trends in the early months of 2018, as well as the outlook for the rest of the year. It examines the external and domestic factors that have influenced the region's economic performance, analyses the characteristics of economic growth, prices and the labour market, and draws attention to some of the macroeconomic policy challenges of the prevailing external conditions, amid mounting uncertainty stemming mainly from political factors. Part II of this edition, which has three chapters, analyses the dynamics of investment and its determinants, with a view to identifying the different variables on which public policy can act to influence the trajectory of investment. Part III contains notes relating to the economic performance of the countries of Latin America and the Caribbean in 2017 and the first half of 2018, together with their respective statistical annexes.

Why should people - and economies - save? This book on the savings problem in Latin America and the Caribbean suggests that, while saving to survive the bad times is important, saving to thrive in the good times is what really counts. People must save to invest in health and education, live productive and fulfilling lives, and make the most of their retirement years. Firms must save to grow their enterprises, employ more workers in better jobs, and produce quality goods. Governments must save to build the infrastructure required by a productive economy, provide quality services to their citizens, and assure their senior citizens a dignified, worry-free retirement. In short, countries must save not for the proverbial rainy day, but for a sunny day - a time when everyone can bask in the benefits of growth, prosperity, and well-being. This book is open access under a CC BY-NC-ND 3.0 IGO license.

This publication examines the social impact of an unprecedented crisis. The effects of the COVID-19 pandemic have spread to all areas of human life, altering the way we interact, crippling economies and bringing about profound changes in societies. The pandemic has highlighted and exacerbated the major structural gaps in the region, and it is clear that the costs of inequality have become unsustainable and that it is necessary to rebuild with equality and sustainability, aiming for the creation of a true welfare state, long overdue in the region.

The 2017 edition of the Economic Survey of Latin America and the Caribbean has three parts. Part I outlines the region's economic performance in 2016 and analyses trends in the early months of 2017, as well as the outlook for the rest of the year. It examines external and domestic factors that have influenced the region's economic performance and draws attention to macroeconomic policy challenges. Part II analyses the characteristics of the current economic cycle in the region (2009-2016) and contrasts it with the two preceding cycles (1990-2001 and 2002-2008). It also identifies and attempts to explain some of the determinants of the cycle and outlines possible strategies for regaining growth. Part III contains notes relating to the economic performance of countries of the region.

Law and Employment analyzes the effects of regulation and deregulation on Latin American labor markets and presents empirically grounded studies of the costs of regulation. Numerous labor regulations that were introduced or reformed in Latin America in the past thirty years have had important economic consequences. Nobel Prize-winning economist James J. Heckman and Carmen Pagés document the behavior of firms attempting to stay in business and be competitive while facing the high costs of complying with these labor laws. They challenge the prevailing view that labor market regulations affect only the distribution of labor incomes and have little or no impact on efficiency or the performance of labor markets. Using new micro-evidence, this volume shows that labor regulations reduce labor market turnover rates and flexibility, promote inequality, and discriminate against marginal workers. Along with in-depth studies of Colombia, Peru, Brazil, Argentina, Chile, Uruguay, Jamaica, and Trinidad, Law and Employment provides comparative analysis of Latin American economies against a range of European countries and the United States. The book breaks new ground by quantifying not only the cost of regulation in Latin America, the Caribbean, and in the OECD, but also the broader impact of this regulation.