Latin America's Uphill Climb to Productivity and Innovation
Latin America's productivity paradox: Stuck in a time warp, this region generates jobs but struggles with low productivity and GDP growth. Can it break the cycle and embrace innovation?
When it comes to productivity, Latin America often feels like that perennial underdog in the world's grand race for economic growth. Picture this: while the average American worker has been sprinting ahead, our Latin American counterparts seem to be stuck in a perpetual time warp, their productivity levels mirroring those from four decades past.
That's not a typo – it's the mind-boggling reality portrayed by José Gabriel Palma, a distinguished voice from the University of Cambridge. At a recent seminar on “Financing, Productivity, and Debt” hosted by the Faculties of Economics, he brought our attention to this conundrum that has been haunting Latin America.
