RaboResearch - Economic Research

Special Dutch version

Latin America: locked up in the middle-income trap?

Latin American countries not appear to be breaking out of the middle-income trap. Productivity growth has been disappointingly low in recent decades. There are several big structural issues, such as severe human capital and infrastructure constraints.

Special Dutch version

Latin America: agricultural perspectives

Latin America is an agricultural powerhouse and is likely to remain so given significant resources of unexploited land. The region has achieved respectable productivity growth in the past and it is important to sustain such gains in the future.

Economic Comment

Budget Day 2015: tax reform was not invited to budget party

On September 15th the Dutch government presented its plans for 2016 at Budget Day. The most important budget proposal was a five billion euro tax reduction package, mainly aimed at reducing taxes on labour. However, the tax system will not be reformed, what we view as a missed opportunity.

Economic Comment

Brazil is back to junk

Brazil lost its investment grade with S&P on 9 September. The downgrade underlines Brazil’s enormous fiscal challenges. Political headwinds could further darken the fiscal and economic outlook.

Special

Why growth keeps disappointing

In this Special we show that the Euro Area faces considerable challenges for the mid-term. Structural problems on the labour market, sluggish labour productivity caused by declining firm dynamics and an unfavourable interest environment are causes of concern.