An article in The Economist comments on how Uruguay puts its neighbours, Argentina and Brazil to shame.
No other country in Latin America has had uninterrumpted economic growth in the last 15 years. The article focuses on the period since 2011 when prices of commodities started to fall.
As most important reason for this succes it names the ´decoupling´ of Uruguayan economy with that of it´s neighbours, Argentina and Brazil. The diversification of exports, special tax regimes and economic zones to attract foreign investment are among the instruments applied by Uruguayan authorities to achieve the economic success. Its success shows the value of openness, strong institutions and investment in know-how.
The publication of March 28th, 2018 mentions as an example the mandatory tracking and tracing of all cows in order to reassure international buyers that sanitary problems will be addressed early on. As a result Uruguay now exports more beef than it´s much larger neighbour Argentina.
The article concludes that Uruguayan public no longer cheers good economic news, but rather takes it for granted.