Productivity, Trade openness and Diversification

Sustainable economic development requires the maximization of these three factors in a combined form.

EDITORIAL 

 - There is no use opening a country to the world if you do not have the minimum capacities to compete in international markets. 

 - To base development on offering a list of a few products or services to the world generates a dangerous dependence of their value in the market or on fluctuations in their production.

  - Even for large economies, opening up to international trade is essential, so that economies of scale can yield the best results. For small economies it represents the only opportunity to be sustainable. 

Except for the radical thinkers who are betting that the progress of humanity will have a prior stage of the destruction of everything that exists, few dare to argue that the application of the three aforementioned concepts - together with scientific and technological advances, constitute the basis of the success achieved in the reduction of poverty in the last 100 years.

An editorial at Nacion.com and a conference in Nicaragua by Chilean economist Andrés Velasco are a good opportunity to reinforce these concepts, especially as the resilience of Costa Rica's economy has been verified despite the political crisis and the crisis over its social model.

Source: CentralAmericaDataExpress