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This blog is maintained by the Growth and Crisis (GC ) Program of the World Bank Institute.

We bring you timely news, resources, tools, ideas and commentaries on issues related to the global economic crisis and growth.

Latin America and Caribbean

ECLAC's Statistics on Latin America and the Caribbean

Submitted by Ignacio on Wed, 03/04/2009 - 18:10

The Economic Commission for Latin America and the Caribbean (ECLAC) has recently publish the 2008 edition of its Statistical Yearbook, which contains social, economic and environmental data from the countries of Latin America and the Caribbean, including a section on Poverty.

Available in English and Spanish, on-line and also as a free download (2.78 MB)

Remittances in Latin America: Not Manna from Heaven

Submitted by Ignacio on Wed, 11/01/2006 - 08:56
Close to home

 

In 2005 migrant workers from Latin America and the Caribbean (LAC) sent a total of $48.3 billion back to their home countries.  In 2004, remittances represented about 70 percent of foreign direct investment (FDI) in LAC and were 500 percent larger than Official Development Assistance to the region.

 

Despite the importance of remittances for Latin America and the Caribbean, a new World Bank study finds that their impact on the region has in some cases been overestimated.

 

Read the press release.

Download the full report.

Executive summary in English, Spanish, Portuguese.

Related: Some remittances theory, from our Fridays Academy series.

Poverty reduction needs growth, but the reverse also holds true

Submitted by Ignacio on Wed, 03/29/2006 - 16:47

This is one of the main ideas proposed today in the presentation at the World Bank of the new flagship report  from the Latin America and the Caribbean Region "Poverty Reduction and Growth: Virtuous and Vicious Circles".

 

The report provides new evidence on the virtuous relationship between growth and poverty reduction: growth is key for poverty reduction. But it also suggests that the relationship can be vicious too: poverty may be hindering growth in Latin America. The report estimates that a ten percent decrease in poverty levels could increase economic growth by one percent in the region.

 

In the words of the World Bank's Chief Economist for Latin America and the Caribbean and co-author of the report, Guillermo Perry, in a recent interview:

 

The report defends the idea that poverty and growth are part of the same problem and therefore growth and direct poverty reduction strategies have to be part of the same solution.