Corporate responsibility is very much on the agenda of Latin America’s business sector, but the region is still searching for an approach that resonates with local realities
Latin America likes a revolution from time to time. That said, the political landscape is less febrile today than at any time for several decades. Nations that once ping-ponged from coup to coup are learning to accommodate democracy.
Populism is still rife, but the recent passing of Venezuela’s charismatic leader Hugo Chavez marks a symbolic blow to the more extreme form of personality politics.
A more stable political environment has given Latin America’s economies the conditions they need to start growing. The region’s leaders, such as Chile, Mexico and especially Brazil, are capitalising on long-running market reform programmes that are now coming to fruition. Others, such as Uruguay and Colombia, are newer to the game and rising fast.
Thanks to a sustained commodity boom and vigorous demand from Asia, Latin America has survived relatively unscathed from the 2008 banking crisis and its repercussions. While the yo-yo days of boom and bust are perhaps not banished for ever, steady growth is the current story for most countries. The region as a whole is expected to record a GDP growth rate of around 3.5% in 2013, according to the World Bank. Not quite the stellar 6% of 2010, but healthy all the same compared...