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COVID-19, sustainable development challenges of Latin America and the Caribbean, and the potential engines for an SDGs-based recovery

COVID-19, sustainable development challenges of Latin America and the Caribbean, and the... The purpose of this study is to examine the impact of COVID-19 on the Latin America and the Caribbean (LAC) region and to discuss imperative engines for potential regional recovery.Design/methodology/approachThis study conceptually discusses the effects of COVID-19 on the LAC region and highlights potential areas for recovery.FindingsThe LAC region have a history of facing structural development challenges – due to digital inequality, environmental degradation, erosion of democracy and financial debt – which have led to a profound discontent among people in the LAC region and this dissatisfaction has been intensified by the crises stemming from the COVID-19 pandemic. LAC region can increase its resilience and recover its path to sustainable development by consolidating impact-based regional value chains, attracting sustainability-themed foreign direct investment and nurturing structural development to facilitate LAC companies to expand into international markets (“multilatinas”).Research limitations/implicationsThere are some preliminary studies on the economic and social impact of COVID-19 on the LAC region, however, the strategies that emerging and developing economies might pursue to promptly recover are still a matter of discussion. The uncertainty and heterogeneity of the developing and emerging economies and the multidimensional needed actions require local adaptations and adjustments.Originality/valueThe LAC COVID-19 crisis recovery requires shared responsibility, global solidarity, urgent and immediate cooperation and structural transformations to enable deeper regional integration. This integration should focus on impact-based value chains to be resiliently adaptable to changing global realities and arduous local contexts. This paper provides integrative avenues for potential regional recovery within the region. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Research The Journal of the Iberoamerican Academy of Management Emerald Publishing

COVID-19, sustainable development challenges of Latin America and the Caribbean, and the potential engines for an SDGs-based recovery

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References (58)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1536-5433
DOI
10.1108/mrjiam-12-2020-1119
Publisher site
See Article on Publisher Site

Abstract

The purpose of this study is to examine the impact of COVID-19 on the Latin America and the Caribbean (LAC) region and to discuss imperative engines for potential regional recovery.Design/methodology/approachThis study conceptually discusses the effects of COVID-19 on the LAC region and highlights potential areas for recovery.FindingsThe LAC region have a history of facing structural development challenges – due to digital inequality, environmental degradation, erosion of democracy and financial debt – which have led to a profound discontent among people in the LAC region and this dissatisfaction has been intensified by the crises stemming from the COVID-19 pandemic. LAC region can increase its resilience and recover its path to sustainable development by consolidating impact-based regional value chains, attracting sustainability-themed foreign direct investment and nurturing structural development to facilitate LAC companies to expand into international markets (“multilatinas”).Research limitations/implicationsThere are some preliminary studies on the economic and social impact of COVID-19 on the LAC region, however, the strategies that emerging and developing economies might pursue to promptly recover are still a matter of discussion. The uncertainty and heterogeneity of the developing and emerging economies and the multidimensional needed actions require local adaptations and adjustments.Originality/valueThe LAC COVID-19 crisis recovery requires shared responsibility, global solidarity, urgent and immediate cooperation and structural transformations to enable deeper regional integration. This integration should focus on impact-based value chains to be resiliently adaptable to changing global realities and arduous local contexts. This paper provides integrative avenues for potential regional recovery within the region.

Journal

Management Research The Journal of the Iberoamerican Academy of ManagementEmerald Publishing

Published: May 26, 2021

Keywords: Climate change; Inequality; Latin America and the Caribbean; Regional value chains; SDGs-based recovery; Sustainable recovery; COVID-19; Digital inequality; Financial debt; COVID-19; Latino América y el Caribe; Recuperación basada end ODS; Cadenas de valor regionales; Recuperación sostenible; Inequidad digital; Cambio climático; Deuda financiera; COVID-19; América Latina e Caribe; Recuperação baseada em ODS; Cadeias de valor regionais; Recuperação sustentável; Desigualdade digital; Alterações Climáticas; Dívida financeira

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