Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

G30 Report Examines the Economic Underperformance of Latin American Countries


News provided by

Group of Thirty

Sep 06, 2023, 13:00 ET

Share this article

Share toX

Share this article

Share toX


New G30 Report Examines the Economic Underperformance of Latin American Countries, and Identifies Potential Solutions as the Region Exits the COVID-19 Pandemic

WASHINGTON, Sept. 6, 2023 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today published Why Does Latin America Underperform? A product of the G30 Working Group on Latin America, the report analyzes the complex and intertwined structural, financial, and political drivers that result in the countries of Latin America consistently delivering poorer economic outcomes when measured against other similar countries outside the region.

While many countries in Latin America share similar challenges, there are unique circumstances preventing a one-size-fits-all explanation to the question of underperformance. The report identifies four distinct low-growth syndromes to characterize Latin American countries:

While many countries in Latin America share similar challenges, there are unique circumstances preventing a one-size-fits-all explanation to the question of underperformance.

Post this
  1.  Endemic macroeconomic instability as seen in Argentina, Ecuador, and Venezuela.
  2. Macroeconomic stability but declining growth, as seen in Colombia, Chile, Peru, and Uruguay.
  3. Open economy, many reforms, new exports, low growth: the unique case of Mexico.
  4. Mediocre macroeconomics, micro-meddling, captured state: the unique case of Brazil.

Arminio Fraga, Co-Chair of the G30 Working Group on Latin America, Founding Partner of GAvea Investimentos, and Former Governor of the Central Bank of Brazil, stated: "This report aims to illuminate and analyze the factors that contribute to persistent poor economic outcomes in the Latin American region. While recent global pandemic and economic pressures are a factor, many of the causes have been longstanding." He continued: "Using a cohort of similar-sized peer countries for comparison, the lag of Latin America is evident. Trend growth among the peer cohort has been double that of Latin American states. Peers also have higher investment levels and faster productivity growth. We need to better understand why this is happening if policymakers hope to craft viable solutions and ensure improved outcomes – economically, socially, and politically."

Guillermo Ortiz, Co-Chair of the G30 Working Group on Latin America, Senior Advisor and Board Member at BTG Pactual, Former Governor of the Bank of Mexico, and Former Minister of Finance of Mexico, noted: "We found in particular that productivity growth rates are very low, with a gradual decline in the rate since the mid-1990's. Separately, we also looked at the performance of goods and services exports. In these areas, Latin American countries underperform their peers. For exports, the Latin American economies come in at approximately 25 percent (GDP weighted average), compared to over 40 percent among the peer group." He added: "Productivity growth decline can be explained generally by two types of misallocations – first, within and among firms, and second, across sectors."

Andrés Velasco, Project Director of the G30 Working Group on Latin America, Dean of the School of Public Policy at the London School of Economics and Political Science, and Former Minister of Finance of Chile, stated: "Latin American countries also have challenges due to their problematic political economies. Their democracies do rank better than those in Africa, the Middle East, and Asia, but we see a consistent backsliding of democracy and the quality of government institutions in Latin America. We have identified a low-trust, low-institutional capacity trap. Trust among citizens has fallen, as has trust in institutions. This lack of trust undermines state capacity and can feed populism. Today we need political as well as economic reforms."

Arminio Fraga and Guillermo Ortiz co-chaired the G30 Working Group on Latin America, which included nine Group Members: Daron Acemoglu, Mauricio Cárdenas, Agustín Carstens, Domingo Cavallo, William R. Rhodes, Carmen Reinhart, Lawrence H. Summers, Alejandro Werner, and Ernesto Zedillo. We extend our appreciation to the Working Group members for their support, input, and dedication throughout the project.
The G30 thanks Project Director Andrés Velasco for his extensive contribution to the report, and the research team at the London School of Economics who supported him.
To receive a copy of Why Does Latin America Underperform?, contact G30 Press Officer Melissa Golding at +1 571-236-2820 or [email protected]
On September 6, 2023, at 11:30am EDT, the G30 hosted a live webinar discussion of the report with Arminio Fraga, Guillermo Ortiz, Andrés Velasco, and Lawrence H. Summers. A link to the event recording is available on the G30 website, www.group30.org
The Group of Thirty is an independent global body comprised of economic and financial leaders from the public and private sectors and academia. It aims to deepen understanding of global economic and financial issues, to explore the international repercussions of decisions taken in the public and private sectors, and to examine the choices available to policymakers and market practitioners. The Group was established in 1978. The Chairman of the Board of Trustees is Tharman Shanmugaratnam; Mark Carney is Chair of the Group. More information and membership bios are available at www.group30.org

Media Contact

Stuart Mackintosh, Group of Thirty, 1 202-331-2472, [email protected], www.group30.org

SOURCE Group of Thirty

Modal title

Group of Thirty
View PDF
Group of Thirty
Group of Thirty

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.