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Volatility and Growth in Latin America

Author: Rishi Goyal

Publisher: International Monetary Fund

Published: 2006-12-01

Total Pages: 54

ISBN-13: 1451865473

This paper compares the pattern of macroeconomic volatility in 17 Latin American countries during episodes of high and low growth since 1970, examining in particular the role of policy volatility. Macroeconomic outcomes are distinguished from macroeconomic policies, structural reforms and reversals, shocks, and institutional constraints. Based on previous work, a composite measure of structural reforms is constructed for the 1970-2004 period. We find that outcomes and policies are more volatile in low growth episodes, while shocks (except U.S. interest rates) are similar across episodes. Fiscal policy volatility is associated with lower growth, but fiscal policy procyclicality is not. Low levels of market-oriented reforms and structural reform reversals are also associated with lower growth.

Managing Economic Volatility in Latin America

Author: Mr.R. Gelos

Publisher: International Monetary Fund

Published: 2014-03-27

Total Pages: 202

ISBN-13: 1484377133

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How has Latin America coped with external shocks and economic vulnerabilities in the aftermath of the global financial crisis? Managing Economic Volatility in Latin America looks at how the region has fared in recent years in an environment of uncertainty. It presents a collection of novel contributions on capital flows, terms of trade, and macroeconomic policy in Latin America. The rigorous expert analysis offers an up-to-date guide to many of the key economic policy questions in the region. Chapters focus on important analytical issues, including assessing reserves adequacy and current account levels. The roles of macroeconomic policies and exchange rates regimes in coping with large capital inflows are examined, as well as the effectiveness of both monetary policy and fiscal policy in dealing with economic challenges in the region.

Macroeconomic Volatility in Reformed Latin America

Author: Ricardo J. Caballero

Publisher: IDB

Published: 2001

Total Pages: 186

ISBN-13: 9781931003070

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Macroeconomic Volatility

Author: Anoop Singh

Publisher: International Monetary Fund

Published: 2006-07

Total Pages: 36

ISBN-13:

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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.

Macroeconomic Volatility in Latin America

Author: Ricardo J. Caballero

Publisher:

Published: 2000

Total Pages: 62

ISBN-13:

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After decades of trial, error, and occasional regress the pieces of a successful Latin American economic model can be seen scattered among the leading economies of the region. The most traditional macroeconomic maladies of the emerging world - such as chronic fiscal imbalances and monetary gimmicks are gradually being left behind. Many of these economies have made significant progress in their regulatory and supervisory frameworks and, at times, have been leaders beyond Latin American boundaries in allowing private sector co-participation in a wide array of ex-public sector activities. Despite these significant efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and otherwise better economic environment. In this paper I review these sources through the recent experiences of Argentina, Chile and Mexico.

Growth and Reforms in Latin America

Author: Mr.Jeronimo Zettelmeyer

Publisher: INTERNATIONAL MONETARY FUND

Published: 2006-09-01

Total Pages: 0

ISBN-13: 9781451864700

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This paper presents a number of facts about growth in Latin America, and shows how critical correlates of growth have evolved over time. In comparison with other regions, Latin America has consistently exhibited higher macroeconomic volatility, lower openness, and higher income inequality, though openness and macroeconomic stability have improved since the early 1990s. The paper then discusses three views of why reforms have not led to higher growth in Latin America: that reforms have gone too far; that reforms have not gone far enough; and that reforms have missed the point.

Economic Growth in Latin America and the Caribbean

Author: Norman Loayza

Publisher: World Bank Publications

Published: 2005-01-01

Total Pages: 169

ISBN-13: 0821360914

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Several countries in Latin America and the Caribbean are suffering severe economic downturns and the success of market-oriented reforms is being called into question. This report seeks to contribute to the debate by examining the nature of economic growth in the region. The aim is threefold: to describe the basic characteristics of growth; explain differences across countries and to forecast changes over the next decade.

Economic Survey of Latin America and the Caribbean 2007-2008

Author: United Nations Economic Commission for Latin America and the Caribbean

Publisher: United Nations

Published: 2010-12-06

Total Pages: 342

ISBN-13: 9210544587

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The Economic Survey is one of ECLAC's flagship publications, and has been issued since 1948. This new edition covers the region's economic performance in 2007 and the first semester of 2008, and suggests growth estimates for this year.

Volatile Capital Flows

Author: Ricardo Hausmann

Publisher: IDB

Published: 1996

Total Pages: 114

ISBN-13: 1886938040

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Seeking Growth under Financial Volatility

Author: Ricardo Ffrench-Davis

Publisher: Palgrave Macmillan

Published: 2006-04-30

Total Pages: 272

ISBN-13: 9781403996350

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This volume deals with macroeconomic issues and their relation with economic growth. Frustrating GDP growth has been a lasting feature of Latin American economies since the 1980s. Analyzing the policy measures that were taken in a bid to avoid costly mistakes and recover economic growth, this volume examines existing reforms and suggests areas of policy change to achieve macroeconomics for growth.