Publication:
Uruguay : Sources of Growth, Policies for the Development of Human Capital, Integration, Competition and Innovation

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dc.contributor.authorWorld Bank
dc.date.accessioned2012-06-21T14:13:12Z
dc.date.available2012-06-21T14:13:12Z
dc.date.issued2005-06
dc.description.abstractUruguay, with a prosperity built on beef and other meat exports, was among the fastest-growing economies in the world at the turn of the twentieth century. In parallel with economic successes driven by exports under a liberal trade regime, early in the 20th century, Uruguay had already initiated a strong and efficient welfare state. By contrast, the slowdown in per capita GDP growth has been more severe in the past 40 years (over 1961-99 per capita GDP growth averaged 1.1 percent, which is two-thirds of the rate achieved by Latin America) - except in the nineties when Uruguay (temporarily) grew at a faster rate than the region. In the 1961-1999 period, the rate of growth was less than half that of industrial countries, and less than one-fourth of that of East Asia. Uruguay must consolidate its incipient economic recovery following a prolonged, and deep recession: the economy shrank 17 percent, and household incomes dropped over 20 percent in real terms over 1999-2003. Notwithstanding, the economy bounced back strongly since mid-2003, and GDP growth in 2004 is estimated at 12.3 percent; the level of unemployment fell from almost 20 percent at the end of 2002, to 12.1 percent at the end of 2004. However, there is a qualitative difference between economic recovery and sustained growth. The country's relatively poor growth performance over the last half century can be traced to several key structural weaknesses, i.e., a pro-cyclical fiscal policy, intrinsically associated with lack of flexibility in social spending; a high and growing dependency ratio (between retirees and the working age population) - worsened by emigration by young people - and increased levels of informal employment; and, lack of effective competition in infrastructure sectors, dominated by the public sector and - in a related manner - the setting of tariffs with a fiscal criterion that limits incentives to increase efficiency, among several other structural factors. The objective of this study is to help develop a "shared" vision of growth with equity in Uruguay, but, unless shared, the policies and reforms discussed are unlikely to be implemented, maintained, or to be credible. The first pillar of this framework involves policies leading to fiscal and financial stability, the efficient operation of factor markets (capital and labor), and, the strengthening of social protection. The second pillar of policies and reforms aims at the creation of an investment climate, favorable to the accumulation of physical and human capital; it includes trade and integration policies, the development of a competitive framework - particularly in infrastructure sectors; and, policies on education and health for the development of human capital. The third pillar is formed by the policies and reforms that promote growth driven through innovation; it will require a thorough transformation of institutional capabilities, entrepreneurial culture, and the system of innovation.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/06/5879098/uruguay-sources-growth-policies-development-human-capital-integration-competition-innovation
dc.identifier.doi10.1596/8622
dc.identifier.urihttps://hdl.handle.net/10986/8622
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGRICULTURAL EXPORTS
dc.subjectBANKING SECTOR
dc.subjectBANKRUPTCY
dc.subjectBENCHMARKING
dc.subjectBUDGETARY PROCESS
dc.subjectBUSINESS CLIMATE
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL MARKETS
dc.subjectCENTRAL BANK
dc.subjectCITIZENS
dc.subjectCIVIL SOCIETY
dc.subjectCLIMATE
dc.subjectCOMMUNICATIONS TECHNOLOGY
dc.subjectCOMPETITION POLICY
dc.subjectCOMPETITIVE ADVANTAGES
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMERS
dc.subjectCORRUPTION
dc.subjectCOST EFFECTIVENESS
dc.subjectCRISES
dc.subjectCROSS SUBSIDIZATION
dc.subjectDEBT
dc.subjectDEREGULATION
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT INDICATORS
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDIVERSIFICATION
dc.subjectECONOMIC DECLINE
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectEDUCATIONAL ATTAINMENT
dc.subjectEMIGRATION
dc.subjectEMPLOYMENT
dc.subjectEQUAL ACCESS
dc.subjectEQUILIBRIUM
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURES
dc.subjectEXPORTS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFREE TRADE
dc.subjectGDP
dc.subjectGENERAL EQUILIBRIUM MODEL
dc.subjectGROWTH PATH
dc.subjectGROWTH PERFORMANCE
dc.subjectGROWTH POLICIES
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH PRO-POOR
dc.subjectGROWTH RATE
dc.subjectHEALTH CARE
dc.subjectHIGH TAXES
dc.subjectHOUSING
dc.subjectHUMAN CAPITAL
dc.subjectHUMAN DEVELOPMENT
dc.subjectINCOME
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME DISTRIBUTIONS
dc.subjectINCOME GROWTH
dc.subjectINDEXATION
dc.subjectINDUSTRIALIZED COUNTRIES
dc.subjectINEFFICIENCY
dc.subjectINFLATION
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINNOVATION
dc.subjectINSTITUTIONAL CAPACITY
dc.subjectINSURANCE
dc.subjectINTERGENERATIONAL EQUITY
dc.subjectINTERNATIONAL COMPARISONS
dc.subjectINVESTMENT CLIMATE
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLAWS
dc.subjectLEGISLATION
dc.subjectLIQUIDITY
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMACROECONOMICS
dc.subjectMARKET ECONOMIES
dc.subjectMEDIA
dc.subjectMEDIUM TERM
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectMONETARY POLICY
dc.subjectMONOPOLIES
dc.subjectMULTILATERAL TRADE
dc.subjectNEGATIVE IMPACT
dc.subjectOPEN ECONOMIES
dc.subjectOUTPUT GROWTH
dc.subjectPAYROLL TAXES
dc.subjectPER CAPITA INCOME
dc.subjectPOLICY OPTIONS
dc.subjectPOLITICAL PARTIES
dc.subjectPOOR GROWTH
dc.subjectPOVERTY LEVELS
dc.subjectPOVERTY LINE
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE STABILITY
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectPRODUCTIVITY
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC EMPLOYMENT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC INSTITUTIONS
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC WORKS
dc.subjectPURCHASING POWER
dc.subjectPURCHASING POWER PARITY
dc.subjectQUALITY STANDARDS
dc.subjectREAL WAGES
dc.subjectREGULATORY FRAMEWORK
dc.subjectRETIREMENT
dc.subjectRISK AVERSION
dc.subjectSAFETY
dc.subjectSAFETY NET
dc.subjectSAVINGS
dc.subjectSCHOOLS
dc.subjectSECONDARY SCHOOLS
dc.subjectSOCIAL PARTICIPATION
dc.subjectSOCIAL PROGRAMS
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SPENDING
dc.subjectSUSTAINABLE GROWTH
dc.subjectTARIFF BARRIERS
dc.subjectTAXATION
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectTELECOMMUNICATIONS
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTOTAL FACTOR PRODUCTIVITY GROWTH
dc.subjectTRADE NEGOTIATIONS
dc.subjectTRADE POLICY
dc.subjectTRADE REGIME
dc.subjectTRANSPARENCY
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNFAIR COMPETITION
dc.subjectWORKERS
dc.subjectYOUNG PEOPLE
dc.subjectYOUTH
dc.titleUruguay : Sources of Growth, Policies for the Development of Human Capital, Integration, Competition and Innovationen
dc.title.alternativeUruguay - Fuentes de crecimiento - politicas para el desarrollo del capital humano, la integracion, competencia e innovacionen
dspace.entity.typePublication
okr.date.disclosure2005-06-22
okr.date.doiregistration2025-05-07T12:04:11.491532Z
okr.doctypeEconomic & Sector Work::Country Economic Memorandum
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2005/06/5879098/uruguay-sources-growth-policies-development-human-capital-integration-competition-innovation
okr.guid474391468319501863
okr.guid987571468319536696
okr.identifier.externaldocumentum000012009_20050622104644
okr.identifier.internaldocumentum5879098
okr.identifier.report31737
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/06/22/000012009_20050622104644/Rendered/PDF/317370rev.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryUruguay
okr.region.geographicalAmerica
okr.region.geographicalSouth America
okr.sectorPublic Administration
okr.sectorLaw
okr.sectorPublic Administration, Law, and Justice
okr.sectorHealth and other social services
okr.sectorIndustry and trade
okr.sectorFinance
okr.sectorEducation
okr.unitEconomic Policy Sector (LCSPE)
okr.volume1 of 1
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