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Macroeconomic Volatility: The Policy Lessons from Latin America

Author/Editor: Singh, Anoop
Authorized for Distribution: July 1, 2006
Electronic Access: Free Full Text (PDF file size is 397KB)
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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: The recent recovery in Latin America has been impressive but also raises the question whether this represents a fundamental break with the region's history of boom-bust cycles. The paper traces how this history of macroeconomic volatility and financial crisis over the past century has adversely impacted on growth and other development indicators, and the role played by policy instability. The paper then concludes that recent policies in the region offer encouragement that these vulnerabilities are being addressed, but notes that an important agenda still remains to be addressed.
 
Series: Working Paper No. 06/166
Subject(s): Economic policy | Latin America
Author's keyword(s): Macroeconomic volatility | Latin America | growth cycles | moontary policy | fiscal policy | banking and currency crises | structural reform | debt | inflation targeting | fiscal frameworks
 
English  
    Published:   July 1, 2006        
    ISBN/ISSN:   0 / 1934-7073   Format:   Paper
    Stock No:   WPIEA2006166   Pages:   31
    Price:   US$15.00
       
     
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