Summary of Uncertain Times

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Uncertain Times summary
Unless countries in Latin America institute major reforms, the region’s economic future could be quite bleak.

Rating

8 Overall

9 Importance

7 Innovation

8 Style

Recommendation

Latin America saw rapid economic development between 2004 and 2013, and after the 2008 financial crisis, the region stood out as a bright spot on an otherwise dark economic horizon. Today, however, prospects are very different. Beginning in 2014, several Latin American economies stumbled as commodity prices plummeted and global trade fell off. Economist José Antonio Ocampo explains the reforms the region must undertake to regain its place on the world economic stage. His concise article provides insights into how Latin America should address slow growth. getAbstract recommends it to executives and economists interested in the region’s future.

In this summary, you will learn

  • Why Latin American economies expanded rapidly between 2004 and 2013
  • How factors such as the fall in commodity prices have slowed economic output since 2014
  • What the region needs to do to return to healthy growth
 

Summary

Latin America rebounded after its “lost decade” in the 1980s to enjoy an outstanding period of socioeconomic progress from 2004 to 2013, the “Latin American decade.” By 2001, the area’s inflation had moderated to single digits, a far cry from the nearly 1,200% inflation in 1990, while low external-debt...
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About the Author

José Antonio Ocampo, a professor at Columbia University, has held various high-level economic posts at the United Nations and in Latin America.


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