Latin America and the Caribbean is one of the most unequal regions in the world. Not only is this inequality high, but it is even excessive for the level of development of the region, indicating a kind of Latin American exceptionalism. Moreover, inequality in the region is not new, with its origins dating back to colonial times. Despite the many advances achieved in different economic and social development indicators in recent decades, average inequality levels in the region have not changed substantially or sustainably. Beyond countryspecific nuances, they continue to be a characteristic feature of Latin American and Caribbean societies. The Report on Economic Development 2022 (RED 2022) states that the high inequality in the region has very deep roots, driving its persistence over time. As a result of this inertia, who the most and least wealthy or advantaged individuals and families are has persisted steadily over time. RED 2022 documents and explains the evolution of intergenerational mobility in the region, assessing the multiple dimensions that determine the levels of wellbeing of parents and children.
The report takes a long-term perspective and covers cohorts born throughout the 20th century and early 21st century. The analysis of educational, occupational, income, health, and wealth mobility produces novel findings. Moreover, the report reveals new evidence that intergenerational ties in the region may go beyond the two consecutive generations of parents and children, extending further back in time.