{
"authors": [],
"type": "pressRelease",
"centerAffiliationAll": "",
"centers": [
"Carnegie Endowment for International Peace"
],
"collections": [],
"englishNewsletterAll": "",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie Endowment for International Peace",
"programAffiliation": "",
"programs": [],
"projects": [],
"regions": [
"South America",
"North America"
],
"topics": [
"Economy"
]
}
REQUIRED IMAGE
The global financial crisis was a result of failures in both the market and state—markets created financial turmoil and regulatory agencies failed to detect risks and correct imbalances. As Latin American countries emerge from the crisis, both the market and state are needed to ensure sustainable growth.
WASHINGTON, Nov 11—The global financial crisis was a result of failures in both the market and state—markets created financial turmoil and regulatory agencies failed to detect risks and correct imbalances. As Latin American countries emerge from the crisis, both the market and state are needed to ensure sustainable growth, says a new paper by Alejandro Foxley, former foreign and finance minister of Chile.
Analyzing the successes and mistakes of economic policies over the past twenty years, Foxley makes recommendations for Latin America to achieve development that creates fewer inequalities and increases the capacity for innovation.
Recommendations
“As they emerge from the most recent crisis, Latin American economies need both—more market and more state. More market will enable them to exploit new opportunities through bilateral or multilateral trade agreements, and expand public-private partnerships,” writes Foxley. “A more intelligent state, acting as a catalyst for development, could encourage creativity and foster entrepreneurship.”
###
NOTES
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
The U.S.-sponsored TRIPP deal is driving the Armenia-Azerbaijan peace process forward. But foreign and domestic hurdles remain before connectivity and economic interdependence can open up the South Caucasus.
Thomas de Waal, Areg Kochinyan, Zaur Shiriyev
Economic growth is at the heart of a dilemma between planetary and international security.
Olivia Lazard
The war in Iran proves the United States is now a destabilizing actor for Europe and the Arab Gulf. From protect their economies and energy supplies to safeguarding their territorial integrity, both regions have much to gain from forming a new kind of partnership together.
Rym Momtaz
Integrating AI into the workplace will increase job insecurity, fundamentally reshaping labor markets. To anticipate and manage this transition, the EU must build public trust, provide training infrastructures, and establish social protections.
Amanda Coakley
EU member states clash over how to boost the union’s competitiveness: Some want to favor European industries in public procurement, while others worry this could deter foreign investment. So, can the EU simultaneously attract global capital and reduce dependencies?
Rym Momtaz, ed.