During the 1960s, the countries of Latin America and the Caribbean opted for an economic development strategy based on trade protection. At its core, import substitution sought to protect local industries from foreign competition. Although the region’s economies grew significantly, this growth laid the foundations for the 1980 debt crisis, which was compounded by a series of … [Read more...] about Trade Liberalization and Diversification, key for Central America
Marta Ruiz-Arranz
Marta Ruiz-Arranz is a Senior Economic Advisor in the Central America, Haiti, Mexico, Panama and Dominican Republic Country Department of the Inter-American Development Bank and previously served as an economic advisor for the Andean region. Prior to joining the IDB in 2015, Marta worked for 12 years at the International Monetary Fund, where she was a Deputy Division Chief in the Fiscal Affairs Department. She holds a PhD in Economics from Harvard University.
Exports, the Productivity Engine the Andean Region Needs
In recent decades, productivity levels have been low in the Andean economies (Colombia, Venezuela, Ecuador, Peru, and Bolivia). One explanation for this is the limited development of the region’s export sector. International trade accounts for just over 20% of the region’s GDP, far less than Asia, Europe, the rest of Latin America and the Caribbean (LAC), and even … [Read more...] about Exports, the Productivity Engine the Andean Region Needs