How Well Has Latin America Fared During the Global Financial Crisis?

Jose Antonio Ocampo

Ensayos Económicos, 2011, vol. 1, issue 61-62, 7-33

Abstract: Has Latin America broken new ground with its performance during the recent global financial crisis and, furthermore, during the recent business cycle? Some level of macroeconomic prudence was certainly present during the recent boom, and the region responded to the recent crisis without the dramatic balance of payment adjustments and banking collapses that were typical in the past. But there seems to be a significant level of complacency among regional governments, international organizations, and some analysts about recent macroeconomic performance. This paper looks at the effects of external events and domestic policies on Latin America during the recent global financial crisis and its policy implications, and argues that, while there is indeed good news, there is certainly no ground for euphoria. Latin America’s recent performance has not been so outstanding or widespread, nor is this performance associated only with the region’s own efforts.

Keywords: business cycle; economic policy; global financial crisis; Latin America (search for similar items in EconPapers)
JEL-codes: E30 E60 G01 (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.bcra.gov.ar/pdfs/investigaciones/61_62_Ocampo.pdf Spanish version (versión en Español) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bcr:ensayo:v:1:y:2011:i:61-62:p:7-33

Access Statistics for this article

Ensayos Económicos is currently edited by Germán Feldman

More articles in Ensayos Económicos from Central Bank of Argentina, Economic Research Department Contact information at EDIRC.
Bibliographic data for series maintained by Federico Grillo ().