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Latin America’s Innovation Gap
Report

Latin America’s Innovation Gap

The Economist Intelligence Unit
EIU, 2016
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Editorial Rating

8

Qualities

  • Innovative
  • Eye Opening
  • Background

Recommendation

Most people don’t view Latin America as a hub for innovation, and the region has done little to buck that reputation. With most countries’ finances in a state of disrepair, spending on research and development is set to fall below already anemic levels. According to this study from the Economist Intelligence Unit, steps toward liberalizing trade and strengthening structural reforms in some countries won’t be enough to lift the area’s progress, compared to other emerging market zones. getAbstract recommends this illuminating article to policy makers, economists, analysts, and others interested in economic trends in Latin America.

Take-Aways

  • Latin America’s GDP growth decreased from 4.7% in 2011 to zero in 2015.
  • The number of international patent applications in Latin America in 2015 was 1,358, compared to 95,000 in Asia.
  • In 2013, most Latin American countries spent less than 0.5% of GDP on research and development, compared to 2% to 4% in developed economies.

About the Author

The Economist Intelligence Unit is an independent research and analysis organization.

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    J. V. 2 years ago
    This is very insightful. I suppose Latin America needs to eat some humble pie and stop looking to Europe to model after.

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