How is the Slowdown Affecting Households in Latin America and the Caribbean?

This paper shows evidence that suggests the economic slowdown in Latin America and the Caribbean has already translated into slowing social gains, including decelerating poverty reduction, stagnating growth of the middle class, and lower income gro...

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Main Authors:	Calvo-Gonzalez, Oscar, Castaneda, R. Andres, Farfan, Maria Gabriela, Reyes, German, Sousa, Liliana D.
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	economic growth poverty inequality slowdown low growth stagnation labor markets commodity boom real wages wages
Online Access:	http://documents.worldbank.org/curated/en/879131484837179886/How-is-the-slowdown-affecting-households-in-Latin-America-and-the-Caribbean http://hdl.handle.net/10986/25957

id	okr-10986-25957
recordtype	oai_dc
spelling	okr-10986-259572021-06-08T14:42:47Z How is the Slowdown Affecting Households in Latin America and the Caribbean? Calvo-Gonzalez, Oscar Castaneda, R. Andres Farfan, Maria Gabriela Reyes, German Sousa, Liliana D. economic growth poverty inequality slowdown low growth stagnation labor markets commodity boom real wages wages This paper shows evidence that suggests the economic slowdown in Latin America and the Caribbean has already translated into slowing social gains, including decelerating poverty reduction, stagnating growth of the middle class, and lower income growth. The countries of South America outperformed Mexico, Central America, and the Caribbean in poverty reduction during the decade up to 2012. But since then, a new story has emerged. In recent years, poverty reduction has been disappointing across the entire region, which seems to be converging toward low growth with slow poverty reduction and stagnant inequality. However, this apparent convergence in poverty reduction is driven by diverging labor market patterns. In a reversal of the trends seen during the commodity boom, real wages have been falling in South America and rising in Mexico, Central America, and the Caribbean. As lower economic growth is likely, the new normal will pose challenges for policy makers, in protecting the gains achieved and for societies as they face a mismatch between expectations and actual social mobility. 2017-01-30T20:37:34Z 2017-01-30T20:37:34Z 2017-01 Working Paper http://documents.worldbank.org/curated/en/879131484837179886/How-is-the-slowdown-affecting-households-in-Latin-America-and-the-Caribbean http://hdl.handle.net/10986/25957 English en_US Policy Research Working Paper;No. 7948 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Latin America & Caribbean Caribbean Central America Latin America Mexico
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	economic growth poverty inequality slowdown low growth stagnation labor markets commodity boom real wages wages
spellingShingle	economic growth poverty inequality slowdown low growth stagnation labor markets commodity boom real wages wages Calvo-Gonzalez, Oscar Castaneda, R. Andres Farfan, Maria Gabriela Reyes, German Sousa, Liliana D. How is the Slowdown Affecting Households in Latin America and the Caribbean?
geographic_facet	Latin America & Caribbean Caribbean Central America Latin America Mexico
relation	Policy Research Working Paper;No. 7948
description	This paper shows evidence that suggests the economic slowdown in Latin America and the Caribbean has already translated into slowing social gains, including decelerating poverty reduction, stagnating growth of the middle class, and lower income growth. The countries of South America outperformed Mexico, Central America, and the Caribbean in poverty reduction during the decade up to 2012. But since then, a new story has emerged. In recent years, poverty reduction has been disappointing across the entire region, which seems to be converging toward low growth with slow poverty reduction and stagnant inequality. However, this apparent convergence in poverty reduction is driven by diverging labor market patterns. In a reversal of the trends seen during the commodity boom, real wages have been falling in South America and rising in Mexico, Central America, and the Caribbean. As lower economic growth is likely, the new normal will pose challenges for policy makers, in protecting the gains achieved and for societies as they face a mismatch between expectations and actual social mobility.
format	Working Paper
author	Calvo-Gonzalez, Oscar Castaneda, R. Andres Farfan, Maria Gabriela Reyes, German Sousa, Liliana D.
author_facet	Calvo-Gonzalez, Oscar Castaneda, R. Andres Farfan, Maria Gabriela Reyes, German Sousa, Liliana D.
author_sort	Calvo-Gonzalez, Oscar
title	How is the Slowdown Affecting Households in Latin America and the Caribbean?
title_short	How is the Slowdown Affecting Households in Latin America and the Caribbean?
title_full	How is the Slowdown Affecting Households in Latin America and the Caribbean?
title_fullStr	How is the Slowdown Affecting Households in Latin America and the Caribbean?
title_full_unstemmed	How is the Slowdown Affecting Households in Latin America and the Caribbean?
title_sort	how is the slowdown affecting households in latin america and the caribbean?
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/879131484837179886/How-is-the-slowdown-affecting-households-in-Latin-America-and-the-Caribbean http://hdl.handle.net/10986/25957
_version_	1764460583197868032

How is the Slowdown Affecting Households in Latin America and the Caribbean?

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