Resilience in Latin America: Lessons from Macroeconomic Management and Financial Policies
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
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. 2013/259
Subject:
Commercial banks Currencies Emerging and frontier financial markets Exchange rates Financial crises Financial institutions Financial markets Foreign exchange Money
English
Publication Date:
December 20, 2013
ISBN/ISSN:
9781475550214/1018-5941
Stock No:
WPIEA2013259
Pages:
24
Please address any questions about this title to publications@imf.org