Conclusions from the cross-country analysis
In the 2000s, the Latin American region has witnessed an unprecedented period of growth with poverty and inequality reduction (Alvaredo and Gasparini 2015). The region also suffered from the 2008 economic crisis in Europe and the United States.
In Part II, we have synthesized the results from individual studies of sixteen Latin American countries (see the chapters in Part III) and conducted extensive new analysis, both across countries and within them. We have aimed to answer the following broad questions: Has economic growth (defined as increased output of goods and services) resulted in economic development (defined as widespread improvements in standards of living) via improved conditions in labour markets? Have these improvements halted or been reversed since the Great Recession? How do the rate and character of economic growth, changes in the various labour market indicators, and changes in poverty relate to each other?