Benedicte Bull: Latin America’s Decade of Growth: Progress and Challenges for a Sustainable Development, and Lessons for the Pacific Alliance
In Mario Torres Jarrín and Jonathan Violante Pica (ed.) Emerging Markets. The Pacific Alliance. Perspectives & Opportunities for Latin America, 2016. European Institute of International Studies.
This chapter reviews some key developments in Latin America over the last decade, and will discuss the principal factors behind growth and poverty reduction and the main challenges that Latin America currently faces, including that of sustainable development. I argue that one group of countries that have been governed by center-left governments over the last years have adopted different versions of a developmental regional nationalism. This is characterized by an increasing direct state engagement in developmental policies, and increasing economic nationalism, but embedded in regional integration and open to trade and investments from abroad. Another group has continued to pursue neo-liberal development policies. Both models face significant challenges and if current patterns continue, Latin America is likely to experience further reduction in poverty, but also deepening of over-exploitation of natural resources and environmental problems. This is an issue that should also be taken into account when further integration under the Pacific Alliance occurs.