European Parliament Library

Resilience in Latin America :, Lessons from Macroeconomic Management and Financial Policies, Jose De Gregorio

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
Table Of Contents
Cover; Contents; I. Introduction; II. The Resilience of Emerging Market Economies; III. Resilient Financial System; IV. The Accumulation of International Reserves; V. Final Remarks; References; Figure; 1. Gross Public Debt 2008; 2. Monetary Policy Interest Rates; 3. Monetary and Fiscal Stimulus; 4. Exchange Rates during the Global Financial Crisis; 5a,b. Terms of Trade; 6. Banks' Capital Ratios; 7. Private Credit as Share of GDP; 8. Quarterly Change in Cross-Border Claims on Latin America and Asia; 9. Foreign Claims of BIS Reporting Banks; 10. Composition of Foreign Claims
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (25 p.)
Specific Material Designation
Form Of Item

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