The Global Crisis and Latin America: Financial Impact and Policy Responses
16 Pages Posted: 30 Jul 2012
Date Written: June 8, 2009
The financial impact of the global crisis on Latin America has in some respects been less severe than in previous crises. This reflects in part the development of domestic bond markets and improved net balance sheet positions of the economies, which for a period have allowed gross capital inflow reversals to be partially offset by reductions in gross capital outflows. In addition, policy responses have helped to ease both external and domestic financial conditions. Nevertheless, considerable risks remain due to the ongoing economic downturn.
JEL Classification: E44, E5, E66, F21, F34, F4, G15, O16
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