Resilience in Latin America: Lessons from Macroeconomic Management and Financial Policies

 
Author/Editor: Jose De Gregorio
 
Publication Date: December 20, 2013
 
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
 
Summary: 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.
 
Series: Working Paper No. 13/259
Subject(s): Economic recovery | Latin America | Emerging markets | Economic growth | Monetary policy | Reserves accumulation | Fiscal policy | Financial systems | Global Financial Crisis 2008-2009

 
English
Publication Date: December 20, 2013
ISBN/ISSN: 9781475550214/1018-5941 Format: Paper
Stock No: WPIEA2013259 Pages: 24
Price:
US$18.00 (Academic Rate:
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