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Latin America and the Caribbean
DEEP TRADE AGREEMENTS
Anchoring Global Value Chains in Latin America and the Caribbean
Edited by Michele Ruta and Nadia Rocha
Using new data and evidence, this report shows that "deep" trade agreements can drive policy reforms and help the region overcome some disadvantageous fundamentals. Four priority areas—trade facilitation, regulatory cooperation, services, and state support—can improve the GVC participation of LAC countries: Trade facilitation can reduce border delays and ease problems stemming from the remoteness of LAC countries. Regulatory cooperation can help countries access larger markets by reducing costs of nontariff measures. Opening the service economy can compensate for factor endowment scarcity, facilitating access to skills and technology. Regulating competition and state support to state-owned enterprises can improve the quality of economic institutions.
As global trade tensions persist and economies recover from the COVID-19 pandemic, these reforms can create a more stable institutional environment for promoting the integration of LAC countries into global value chains.
August 2022. 276 pages. Stock no. C211824 (ISBN: 978-1-4648-1824-0). US$49.50
THE FAST TRACK TO NEW SKILLS
By Maria Marta Ferreyra, Lelys Dinarte Díaz, Sergio Urzúa, and Marina Bassi
Higher education in Latin America and the Caribbean (LAC) has expanded dramatically in the new millennium, yet enrollment in short-cycle programs (SCPs) is still relatively low. Shorter and more practical than bachelor’s programs, SCPs can form skilled human capital fast. The economic crisis created by the COVID-19 pandemic has accentuated trends such as automation, the use of electronic platforms, and the need for lifelong learning. Addressing these demands requires the urgent upskilling and reskilling of the population—a task uniquely suited to SCPs. This book explores the labor market outcomes and returns of SCPs, examines providers, and identifies practices adopted by the best programs. Using data including a survey of SCP directors in five LAC countries, it finds that while SCPs generate good labor market outcomes, they vary in quality. SCP providers respond quickly and flexibly to local needs; the best employ practices related to faculty quality, job search help, and interaction with employers. The book discusses how to create an environment offering good programs to students with the interest and means to attend them, drawing attention to a higher education sector that has been overlooked in research and policy.
