How Latin America Weathered The Global Financial Crisis
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How Latin America Weathered The Global
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Author : José De Gregorio
language : en
Publisher: Peterson Institute for International Economics
Release Date : 2014-01-14
How Latin America Weathered The Global written by José De Gregorio and has been published by Peterson Institute for International Economics this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-14 with Business & Economics categories.
The global financial and economic turmoil of 2008–09 plunged Europe and the United States into their worst economic downturns in 75 years. Many experts feared that developing regions like Latin America, which had experienced many of their own crises in recent decades, would be even worse affected. Instead, Latin America suffered only limited damage. Indeed the region’s GDP is 20 percent higher than its pre-crisis level. José De Gregorio, governor of the Central Bank of Chile from 2007 to 2011, explains Latin America’s success with a perspective that only an insider can have. This book focuses mainly on the seven largest economies of Latin America—Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Venezuela—which together account for more than 90 percent of regional output. The author argues that strong performance during the crisis resulted from the sound macroeconomic and financial policies that these countries followed beforehand. Their accomplishments allowed them to undertake significant monetary and fiscal expansion in the context of robust financial systems. De Gregorio acknowledges that there was also an element of luck—in terms of improved terms of trade. This is a candid, searching, and dramatic case study of crisis preparation—and crisis management.
Global Financial Regulatory Reform Implications For Latin America And The Caribbean Lac
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Author : Robert Rennhack
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2009-07-21
Global Financial Regulatory Reform Implications For Latin America And The Caribbean Lac written by Robert Rennhack and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-07-21 with categories.
The Latin America and Caribbean (LAC) region has weathered the global financial crisis reasonably well so far, although tighter global financial conditions began to take their toll on trade, capital flows and economic growth in late 2008. This resilience reflects the reforms put in place by many countries over the past decade to strengthen financial supervision and adopt sound macroeconomic policies. Building on this progress, the region's financial sector reform agenda now aims at further improvements, including steps aiming to improve compliance with the Basel Core Principles of Banking Supervision and to broaden and deepen domestic financial markets.
Economic Growth In Latin America And The Impact Of The Global Financial Crisis
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Author : Garita, Mauricio
language : en
Publisher: IGI Global
Release Date : 2017-12-15
Economic Growth In Latin America And The Impact Of The Global Financial Crisis written by Garita, Mauricio and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-15 with Business & Economics categories.
As the global financial crisis has touched the entire world, it is important for entrepreneurs, government officials, and researchers to reflect on its long-lasting effects to the economy. Economic Growth in Latin America and the Impact of the Global Financial Crisis is a pivotal reference source containing the latest academic research on risk, economic growth and information security in the Latin American economy. Including coverage among a variety of applicable viewpoints and subjects such as telecommunication, subprime lending, and public education, this book is an ideal reference source for government officials, researchers, academics, and upper-level students seeking innovative research on entrepreneurship and the European debt crisis.
The Global Economic Crisis In Latin America
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Author : Michael Cohen
language : en
Publisher: Routledge
Release Date : 2012-06-25
The Global Economic Crisis In Latin America written by Michael Cohen and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-25 with Business & Economics categories.
When the 2008 housing market bubble burst in the United States, a financial crisis rippled from the epi-center in the United States across borders into economies both near and far, causing persistent social and economic detriment in many countries. The Global Economic Crisis in Latin America: Impacts and Responses is an examination of the impacts and responses in the diverse Latin American region through the lens of three countries: Mexico, Brazil, and Argentina.
Resilience In Latin America
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Author : Mr.Jose De Gregorio
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-20
Resilience In Latin America written by Mr.Jose De Gregorio and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-20 with Business & Economics categories.
This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and fiscal expansion, exchange rate flexibility, a strong and well--regulated financial system, high level of reserves, and a bit of luck coming from very high terms of trade, were central to good economic performance. Persevering along the road of strong macroeconomic and financial policies is necessary, but not sufficient, to go from recovery to sustained growth.
Unexpected Outcomes
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Author : Carol Wise
language : en
Publisher: Brookings Institution Press
Release Date : 2015-03-10
Unexpected Outcomes written by Carol Wise and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-10 with Political Science categories.
This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008-2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.
Fiscal Policy In Latin America
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Author : Oya Celasun
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-30
Fiscal Policy In Latin America written by Oya Celasun and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-30 with Business & Economics categories.
Latin America’s bold fiscal policy reaction to the global financial crisis was hailed as a sign that the region had finally overcome its procyclical fiscal past. However, most countries of the region have not yet rebuilt their fiscal space, despite buoyant commodity revenues and relatively strong growth in the aftermath of the crisis. Using the experience of Brazil, Chile, Colombia, Mexico, Peru, and Uruguay, this paper examines the lessons and legacies of the crisis by addressing the following questions, among others: How much did the 2009 fiscal stimulus help growth? What shortcomings were revealed in the fiscal policy frameworks? What institutional reforms are now needed to provide enduring anchors for fiscal policy? How much rebuilding of buffers is needed going forward?
American Divergences In The Great Recession
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Author : Daniele Pompejano
language : en
Publisher: Routledge
Release Date : 2021-09-14
American Divergences In The Great Recession written by Daniele Pompejano and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-14 with History categories.
Globalization is quite different from internationalization: the by-now global market economy overwhelmed the sovereignty of the old national states. Close to the 2007 crisis, some de-coupling effects were consequent in most developed countries in comparison with the ex-Third World. Latin America seemed to entail a "divergence" with the First World, as unlike the past, it was not hit by the financial crisis, but old historical fragilities invalidated the short positive cycle produced by high international prices. This work deals with this crisis and its basic differences from the older crises of the Thirties and Seventies.
Latin America After The Financial Crisis
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Author : Juan E. Santarcángelo
language : en
Publisher: Springer
Release Date : 2016-01-26
Latin America After The Financial Crisis written by Juan E. Santarcángelo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-26 with Business & Economics categories.
Latin America was one of the regions least affected by the global financial crisis of 2008. During this time of widespread economic downfall, Latin America continued to achieve an annual growth rate of around 5%. Latin America after the Financial Crisis explains how the global financial crisis affected the region and why it was not as severe as other crises in the past. The collection covers data from Argentina, Brazil, Chile, Colombia, Cuba, Mexico, and Venezuela, and demystifies the impact of the crisis on the accumulation path of the region without losing sight of each country's particularities. Each country is analyzed by leading specialized and heterodox researchers who have vast experience in the field and who use an array of heterodox perspectives, from Keynesian to Kaleckian and Marxian to Sraffian.
Latin American Political Economy
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Author : Jonathan Hartlyn
language : en
Publisher: Routledge
Release Date : 2019-03-05
Latin American Political Economy written by Jonathan Hartlyn and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-05 with Political Science categories.
This book considers the historical and contemporary determinants of the financial crisis facing Latin America from a political economy perspective and compares the effects of and responses to the crisis in a number of countries. It discusses the internal policy errors that led to financial blow-ups.