Thirty years ago, as part of their development strategy, and after many years of protectionism, the countries of Latin America and the Caribbean embarked on a process of ambitious trade liberalization. This was only one of many different reforms made in the framework of the Washington consensus. But it was without question the most important one. Tariffs were eliminated, … [Read more...] about Ensuring that the Gains from Trade are Inclusive and Sustainable
The Psychology of Support for Trade
Is free trade beneficial to Latin America and the Caribbean? Most economists believe it is. Free trade allows countries to specialize in what they do best, developing competitive advantages and leading to greater consumer choice and lower prices. Most citizens seem to agree. An IDB-commissioned poll, included in the cross-regional Latinobarómetro survey, finds popular … [Read more...] about The Psychology of Support for Trade
Coordination: Key to the Success of Public Policies
One of the most complicated areas of the political economy of public policy in Latin America is related to the difficulties of coordination. While many policies can be carried out by a ministry or public agency without the need to coordinate with other ministries and agencies, the success of policies in other cases depends on cooperation and coordination. And, unfortunately, … [Read more...] about Coordination: Key to the Success of Public Policies