Abstract

REYES, Giovanni E. Macroeconomic challenges and development: Considerations from Latin America. Revista de Ciencias Sociales [online]. 2009, vol.15, n.3, pp.383-396. ISSN 1315-9518.

The major issues concerning political macroeconomic decisions, national economic environments, as well as links which connect these topics to economic growth and human development, are addressed here, mainly from the standpoint of Latin American countries. In the first section, the central features of fiscal, monetary and exchange rate policies are addressed. Following this, links between macroeconomic policies and economic growth are discussed. Then, fundamental characteristics of human development concepts are emphasized to highlight the dual relationship between economic growth and human development within the specific context of societies, taking into account special dynamics from the potential presentation of the “Dutch disease” in a country. Principal conclusions include those which underline the need for stability, institutional infrastructure and social conditions to support sustainable economic growth and human development, as dynamic and permanent accomplishments of a society.

Keywords : Macroeconomic policy; economic growth; human development; Latin American and Caribbean economies.