1. Latin America - Governance Antony Mueller The Continental Economics Institute www.continentaleconomics.com

2. Why has Latin America fallen behind? Y = f (N, L, K, T, E, G,...) Y = f (N, L, K, T, E, G,...) Nature Nature Labor Labor Capital Capital Technology Technology Entrepreneurship Entrepreneurship Governance Governance

3. Do these things matter? Exploitation Exploitation Slavery Slavery Religion Religion Race Race Geography Geography Climate Climate

4. Latin America – Relative Position With whom to compare? With whom to compare? By what criteria? By what criteria? Economics of Happiness Economics of Happiness Family Structures Family Structures Non-Economic Values Non-Economic Values Poverty Poverty Ambition Ambition

5. Latin America and Globalization Competitive Products Competitive Products Labor Costs Labor Costs Labor Quality Labor Quality Capital Structure Capital Structure Agriculture – Industry - Services Agriculture – Industry - Services State and Bureaucracy State and Bureaucracy Property Rights Property Rights

6. Integration Trade Integration Trade Integration Capital Mobility Capital Mobility Labor Mobility Labor Mobility Transfer of know-how Transfer of know-how Currency Arrangements Currency Arrangements Regional By-Stand Agreements Regional By-Stand Agreements Rivalry Rivalry

7. Education Primary and Secondary Education Primary and Secondary Education Elitism Elitism Universities Universities Research and Development Research and Development Scientific Creativity Scientific Creativity Entrepreneurial Creativity Entrepreneurial Creativity Creation - Imitation - Transformation Creation - Imitation - Transformation

8. Governance Transparency Transparency Exit and Voice Exit and Voice Trust Trust Reliability Reliability Corruption Corruption Meritocracy Meritocracy Legal System Legal System

9. Where to begin? Role of New Media Role of New Media Gobalized Information Gobalized Information Communication and Transportation Communication and Transportation New Partnerships New Partnerships Shifting Power Structures Shifting Power Structures Opportunities Opportunities Challenges Challenges

10. Europe – USA – Japan - BRICs Old Europe Old Europe New Europe New Europe Latinization of USA? Latinization of USA? Ageing Japan Ageing Japan Brazil – Russia – India – China Brazil – Russia – India – China Challenges and Chances for Central America and Caribbean Challenges and Chances for Central America and Caribbean