LEO News n°8 September-October 2008


Dear Reader

The Latin American Economic Outlook 2009, focusing on the role fiscal policy can play to foster development in the region, will be officially launched on 28 October, at the XVIII Iberoamerican Summit in San Salvador.


Recent publications
In the media
Development Centre

Next events

28 October

Launch LEO 2009
San Salvador. Contact

31 October

LEO 2009 in Tegucigalpa

7 November

WEF Council on the Future of Latin America
Dubai. Contact

17 November

LEO 2009 in Strasbourg

18 November

LEO 2009 in Madrid

24 November

LEO 2009 in Paris

28 November

LEO 2009 in Santiago


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Fiscal Policy: more important than ever

As the effects of the financial crisis begin to hit Latin American markets, sound fiscal management is more important than ever. Latin America is less vulnerable than in the past to the storm in global markets, but the current context poses an obvious test to the region’s resilience and its fiscal performance. The forthcoming Latin American Economic Outlook 2009 highlights progress in fiscal management in many Latin American countries during recent years, but calls attention to the underutiilsation of fiscal policy as a development tool. The financial crisis will exert extra pressure on fiscal policies for immediate macroeconomic stabilisation, but Latin American governments should not neglect the potential of taxes, public spending and debt management to combat poverty, prevent social exclusion and provide more equal opportunities.


Learn more about:
Latin American Economic Outlook 2009.
Presentation of the report in San Salvador.

Shifting wealth, urban quality of life and other challenges for Latin America

Various presentations by OECD Development Centre staff at different conferences and seminars explore the growing role of middle classes in Latin America’s development and the new challenges the region faces.
Read more on:
The shift of wealth in Latin America.
The quality of life in Latin American cities.
The macro management of commodity booms.

Colombia, new member of the OECD Development Centre
Colombia recently became the fourth Latin American country to join the OECD Development Centre, joining Mexico, Brazil and Chile. The Colombian Ministers of Foreign Affairs and Trade, Industry and Tourism formalised their country’s membership in the Centre during a visit to the OECD.
Recent publications Top

The Macroeconomic Management of Commodity Booms  

Strong growth in China and India has led to improvements in raw-material exporting countries' terms of trade and attracted complementary finance. The long-term challenge for these countries, where institutions are often fragile, is to avoid the so-called “resource curse”. Download this Working Paper.

To Benefit from Plenty: Lessons from Chile and Norway

It might seem obvious discovering an asset such as oil or copper would be wonderful news for the country making the find. Yet the opposite is often true. The windfall can bring poverty, civil strife, corruption, inequality, slower growth and undemocratic practices. Download this Policy Brief or read a shorter Policy Insights.

In the Media Top

El “efecto jazz” y la economía latinoamericana
Clarín, Argentina, September 2008

Chinese Walls in Emerging Markets
The Globalist, USA, September 2008

América Latina y la cooperación al desarrollo
RACI, Argentina, August 2008

Las multilatinas ya pisan fuerte
Clarín, Argentina, September 2008

América Latina: una región (todavía) por explorar
El Mundo, Spain, September 2008

Nuevo equilibrio
América Economía, Chile, August 2008

At the Development Centre Top

Who owns development policy, and what this means for effective aid
For the past year, the Centre has been disentangling the “ownership” principle of effective aid. The message: the best development policies have to be adopted by citizens, parliaments and other groups, not just by central governments. As agreed at the Roundtable on Ownership at the Accra High-Level Forum on Aid Effectiveness (2-4 September), this also has implications in the way non-governmental organisations think about their aid activities. (more...)
Informal Employment in Romania
Informal employment is a widespread phenomenon and a key challenge for the country’s development. As illustrated in this report, many jobs are not fully subject to labour legislation. Employees often lack access to social protection or employment benefits, and untaxed envelope payments are common. (Download this Working Paper)

Latin American Economic Outlook Team
OECD Development Centre - 2 Rue André Pascal - 75775 Paris Cedex 16 - France
+33 1 45 24 82 00 - e-mail -


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