Latin America needs an economic boost

After the "golden decade" (2003-2012), marked by relatively high rates of economic development, most Latin American countries have been showing signs of "braking" and "sliding" from the trajectory of dynamic growth in a depressive state. The purpose of this article is to analyze the causes of the alarming situation and offer a stimulating tool for radical acceleration (forcing) of economic growth in Latin America, ensuring the growth of regional GDP above world average. According to the author, thanks to the implementation of the fast-moving strategy, the process of (albeit gradual) reduction of the lag of Latin American states from the global economic avant-garde can begin in the foreseeable future. But the way out of the state of stagnation and the fate of the radical acceleration (forcing) of the economies of Latin American countries depend on a decisive and purposeful action of the state, on what strategy of national development will take the supreme political power and how consistently and steadily it will be pursued. Needless to say, it is not only Latin American countries that need economic boost. Author is deeply convinced that the major States of Latin America and the Russian Federation have much more in common than many of those who make strategic political and economic decisions presume. That is why the careful study of the experience of Latin American countries, a comprehensive analysis of their problems and complexities, the practice of modernization processes in the region has not only theoretical, but also important application value for Russians.

Keywords

Latin America, economic growth slowdown, "lost decade 2.0," catch-up modernization, fast-moving model

Received

06.02.2020

Publication date

07.02.2020

Number of characters

29804

Cite

GOST	Yakovlev P. Latin America needs an economic boost // Latin America – 2020. – Issue 2 C. 6-18 [Electronic resource]. URL: https://latamerica-journal.ru/S0044748X0008141-4-1 (circulation date: 19.04.2024). DOI: 10.31857/S0044748X0008141-4
MLA	Yakovlev, Petr P "Latin America needs an economic boost." Latin America 2 (2020):6-18. DOI: 10.31857/S0044748X0008141-4
APA	Yakovlev P. (2020). Latin America needs an economic boost. Latin America (2), pp.6-18 DOI: 10.31857/S0044748X0008141-4

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