Innovation Deficit

World Bank report  that states that  Latin America has a lot entrepreneurs, it does not innovate enough. Thus firms stay small, often informal, and don’t pay taxes. An excerpt:

“Firms in the region suffer from a chronic and substantial innovation gap” relative to similar countries and regions around the world. The region falls short not only in research and development but also in patent filing, product innovation and management practices, the report found.”

http://www.miamiherald.com/2013/12/05/3799720/latin-american-caribbean-dilemma.html