I've just published a new op-ed in Project Syndicate examining how Latin American and Caribbean countries can overcome chronic political short-termism.
In "Overcoming Political Short-Termism in Latin America," I argue that the region's failure to implement lasting, credible reforms discourages investment and contributes to anemic GDP and productivity growth. To address this, I propose a bold solution: national autonomous institutions tasked with designing and implementing long-term, evidence-based policies in key development areas.
These expert-led bodies, insulated from political pressures, could drive consistent policy on crucial issues like infrastructure, pensions, and education. Drawing inspiration from the success of independent central banks in the region and fiscal rules, such institutions could restore public trust and create conditions for a more prosperous, equitable, and sustainable future.
Read the full article to learn more about this approach to breaking the cycle of short-term policymaking in Latin America and the Caribbean.
#LatinAmerica #EconomicPolicy #Institutions
https://lnkd.in/eJYdrpiA
Finding the balance between international integration and domestic self-reliance is key, but very challenging. Thanks for sharing!