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Financial Paper

2872 words - 12 pages

Module I - Synopsis: Latin American Economic & Political Situation

Does the Investment Climate Matter? Preface and Is Another Study of Economic Performance in LA and the Caribbean Needed?

Many topics were presented in the reading “Does the Investment Climate Matter? Preface and Is Another Study of Economic Performance in LA and the Caribbean Needed”. Topics consisted of the growth of Latin America’s per capita, and to why one would feel complacent towards it. With this per capita growth, they than analyzed Latin America’s education, training, and the national innovation system. These three themes that I selected to discuss in my journal, somehow I think one way or another they ...view middle of the document...

In the article it states that Latin America doesn’t participate regularly in international tests. Well, we can’t say that all of them don’t, while Brazil, Mexico, Peru, Argentina, and Uruguay do they still don’t seem to be performing as well as the rest of the world. Even though these countries do participate in regular testing they seem to perform poorly even after controlling for per capita income levels. Information I found in an online article was that more than 100 million Latin American children ages three and up will not participate in the "knowledge economy" under current government educational programs. The average number of years of schooling in the region is only six. This includes urban schools. In rural areas, the number of years of schooling is much lower. In addition, the quality of the education received in most of these centers of education is very poor. Most children barely end up learning how to read and write. Now with that said, how does Latin America plan to increase its per capita if the education system isn’t being corrected and implemented?

Even though Latin America’s education and training systems doesn’t seem to be up to par with the rest of the world, in the article they mentioned that the per capita has increased in Latin America. “Since 2003, Latin America and the Caribbean have shown signs of significant economic improvement”. Now, my question is how can it be that a country with a weak education system and training has an increasing per capita? If they have no educational or training structure for skilled workers, how can R&D improve? They mentioned that this could be interpreted as the result of an acceleration in structural growth rates that is perhaps attributable to the significant reforms implemented by a large number of countries of the region during 1990s. From research done Latin America has always had its per capita fluctuate. “The growth regimes of recent decades have in the background the large shocks of the 1970s, 1980s and 1990s and the early 21st century “information from an article online.

With summarizing the growth of per capita in this article, the last topic I plan on discussing is why one would be complacent about the current situation. The reasons for this complacently the article mentions are. First, they mention that even if Latin America sustains this current trend, of the per capita growing, they believe that this alone would be insufficient to decrease Latin America’s poverty rate. The poverty rate in Latin America is currently close to 25 percent as stated in the article. What they did to show the significance of this poverty level was compare the growing per capita to the little effect it has on poverty. Second, they mentioned that this growth is only compared to a three-year run. The three year run mentioned was driven by external factors, such as a favorable global environment, high commodity prices, and the voracious appetite of countries. “Voracious appetite of countries”;...

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