Coherent Identifier About this item: 20.500.12592/6f1b2x

Renewing with Growth

29 March 2021

Summary

Latin America and the Caribbean suffered the largest death toll from Covidā€19 across developing regions and the sharpest decline in economic activity. With fewer school days and lower employment rates, with higher public debt and more firms under stress, the effects could be longā€lasting. The crisis also triggered largeā€scale economic restructuring, with productivity higher in the expanding than in the contracting sectors. Accelerated digitization could instill dynamism in finance, trade and labor markets, but it may amplify inequality within and across the countries in the region. Technology could transform the energy sector as well. Latin America and the Caribbean has the cleanest and potentially cheapest electricity generation matrix of all developing regions. But its electricity is the most expensive, due mainly to inefficiencies. Distributed generation within countries and electricity trade across countries, could make energy greener and cheaper, provided that the pricing is right.

Authors

Tags

covid-19 coronavirus digital economy renewable energy labor market inequality economic growth unemployment economic outlook structural transformation pandemic response economic shock access to electricity excess mortality macroeconomics and economic growth :: economic growth poverty reduction :: inequality social protections and labor :: employment and unemployment energy :: energy policies & economics macroeconomics and economic growth :: economic policy, institutions and governan macroeconomics and economic growth :: fiscal & monetary policy macroeconomics and economic growth :: business cycles and stabilization policies pandemic impact eocnomic crisis

Collection(s)
LAC Semiannual Report
Googlescholar linkpresent
yes
ISBN
978-1-4648-1711-3
RelationisPartofseries
LAC Semiannual Report;April 2021
Report
157783
UNIT
LCRCE
URI
http://hdl.handle.net/10986/35329
citation
ā€œWorld Bank. 2021. Renewing with Growth . LAC Semiannual Report;April 2021. Washington, DC: World Bank. Ā© World Bank. https://openknowledge.worldbank.org/handle/10986/35329 License: CC BY 3.0 IGO.ā€
date disclosure
2021-03-29
region administrative
Latin America & Caribbean
region geographical
Caribbean , Latin America
Rights
CC BY 3.0 IGO
Rights Holder
World Bank

Topics