The National Chamber
of Industry of Mexico
Prof. Katherine Terrell Gives Keynote at Major Conference in Mexico
She provides strategies on how Latin America can improve its economic competitiveness.
ANN ARBOR, Mich. Katherine Terrell, professor of business economics and public policy at the Stephen M. Ross School of Business at the University of Michigan, gave a keynote address this week at the annual convention of CANACINTRA (the National Chamber of Industry of Mexico) in Mexico City.
Terrell, whose talk was titled "Strategies to Strengthen Competitiveness," spoke shortly after Mexican President Vicente Fox Jan. 24.
In her talk, Terrell said that Latin America ranks low in business competitiveness, compared to other regions of the world. Economic growth, she said, has been disappointing, lagging behind Asia, Eastern Europe and developed countries, while income gaps with more developed nations have widened.
Although lack of financing is the No. 1 obstacle to Latin American business development, financial liberalization has taken big strides. However, credit is still scarce, credit markets are underdeveloped and protection of creditor rights is low in many countries.
"Strengthening creditor rights is essential to expand credit and improve competitiveness," said Terrell, who also is a professor of corporate strategy and international business at the Ross School.
In addition to establishing deeper credit markets, Latin America must better train and educate workers, improve infrastructure by introducing greater competition and instituting independent and effective regulation, and accelerate the adoption of new technologies.
While in Mexico, Terrell was interviewed by CNN Espanol in Atlanta and Radio Monitor in Mexico City.
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