Regional Economic Outlook: Western Hemisphere, October 2008 -- Table of Contents
Western Hemisphere, October 22, 2008
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- Published: October 22, 2008
- Series: Western Hemisphere
Overview
- The ongoing global turmoil represents a confluence of negative shocks for Latin America and the Caribbean: a freeze in global credit markets, weaker external demand, and lower commodity prices.
- The region is expected to deal with these global shocks better than in previous crises, reflecting progress made in improving macroeconomic fundamentals over the past decade.
- There are a number of downside risks going forward.
- The report discusses the implications of the global financial crisis for the regional outlook and the corresponding challenges facing policymakers.
Global, U.S., and Canadian Outlook
- Global Outlook
- U.S. Outlook: Major Downturn with Protracted Recovery
- Canadian Outlook: Feeling Effects of U.S. Slowdown
Latin American and Caribbean Outlook
- Context
- A Varying Policy Mix
- Economic Outlook and Risks
- Policies: Maintaining Confidence and Stability
Keeping Inflation Under Control
- Rising Inflation
- Monetary Policy Has Been Tightened
- Conclusions
- Appendix 3.1
Elevated Food Prices and Vulnerable Households: Fiscal Policy Options
- Elevated Food Prices Trigger Policy Debate
- Food Price Inflation Can Have Strong Welfare Effects
- Fiscal Policy Can Help Ease Burden on the Poor
- Appendix 4.1
Corporate Vulnerability: Have Firms Reduced Their Exposure to Currency Risk?
- Firms Facing More Currency Volatility
- Stronger Balance Sheets
- Beyond Balance Sheets: A Market-Based Approach
- More Active Use of Foreign Currency Derivatives
- Appendix 5.1
Boosting Private Investment in the Long Term
- Investment Still Lagging
- Importance of Macro Stability
- Beyond Macro Stability
- Rule of Financing Constraints
- Appendix 6.1. Estimation Methods
Data, Indicators, and References
- Western Hemisphere: Main Economic Indicators
- Latin America and the Caribbean: Main Fiscal Indicators
- References
Boxes (selected)
- 1.1 United States: Quantifying Macrofinancial Linkages
- 2.1 Determinants of Sovereign Bond Spreads in Latin America
- 2.2 Financial System Stability Developments
- 2.3 Differential Impact of Commodity Boom
- 2.4 Inflation and Poverty
- 2.5 The Caribbean: Weathering the Global Storm
- 2.6 Do Migrant Remittances to the LAC Region Fall During U.S. Slowdowns?
- 2.7 Spillovers from the United States to Latin America
- 2.8 Absorbing the Oil Shock in Central America and the Caribbean: The Role of Petrocaribe
- 4.1 Impact of Rising Food Prices on Poverty
- 4.2 Policy Responses to Ease Effects of Higher Food Prices
- 4.3 Can Import Tariff Reductions Help Reduce Food Prices in the Region?
- 6.1 Literature on Financing Constraints and Investment
Regional Economic Outlook: Western Hemisphere, October 2008 -- Table of Contents
Content in this bundle
- Wreo1008exppdf
- wreo1008c1pdf
- wreo1008c2pdf
- wreo1008c3pdf
- Box 4.1. Impact of Rising Food Prices on Poverty
- CORPORATE VULNERABILITY: HAVE FIRMS REDUCED THEIR EXPOSURE TO CURRENCY RISK?
- wreo1008c6pdf - 2.9 percent, compared with 7.3 percent in emerging Asia.
- Regional Economic Outlook: Western Hemisphere October 2008 Executive Summary
- wreo1008spdf