Publication:
Understanding the Poverty Impact of the Global Financial Crisis in Latin America and the Caribbean

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dc.contributor.authorGrosh, Margaret
dc.contributor.authorBussolo, Maurizio
dc.contributor.authorFreije, Samuel
dc.contributor.editorGrosh, Margaret
dc.contributor.editorBussolo, Maurizio
dc.contributor.editorFreije, Samuel
dc.date.accessioned2014-06-23T22:02:06Z
dc.date.available2014-06-23T22:02:06Z
dc.date.issued2014-06-18
dc.description.abstractAny time there is an economic crisis; there is the very real potential that its consequences for human welfare will be severe. Thus when the developed world plunged into such a crisis in 2008 and growth rates in Latin America and the Caribbean (LAC) began to plummet, fears rose that the region will suffer rising unemployment, poverty, malnutrition, and infant mortality, among other things. This study confirms and quantifies many of the sobering links between crisis and poverty, but it also shows how powerful good policy in stable times is in attenuating those links. It thus underscores the need for sound growth policies, good macro prudential care, fiscal balance, low debt, reasonably flexible exchange rates, and the like to help prevent and manage crises. It equally shows how effective social protection responses built on adequate existing programs can be. This study documents the effects of the 2008-09 global financial crisis on poverty in 12 countries in the LAC region, and it comes away with six big picture messages, each with much nuance and many caveats that are explained briefly in this overview.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/06/19702913/understanding-poverty-impact-global-financial-crisis-latin-america-caribbean
dc.identifier.doi10.1596/978-1-4648-0241-6
dc.identifier.isbn978-1-4648-0241-6
dc.identifier.other10.1596/978-1-4648-0241-6
dc.identifier.urihttps://hdl.handle.net/10986/18727
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesDirections in Development--Human Development;
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACTIVE LABOR
dc.subjectACTIVE LABOR MARKET
dc.subjectACTIVE LABOR MARKET POLICY
dc.subjectADVISERS
dc.subjectAGGREGATE DEMAND
dc.subjectAGGREGATE EMPLOYMENT
dc.subjectAGGREGATE OUTPUT
dc.subjectANNUAL CHANGE
dc.subjectANNUAL GROWTH
dc.subjectANNUAL GROWTH RATE
dc.subjectAVERAGE GROWTH
dc.subjectAVERAGE INCOME
dc.subjectAVERAGE INCOME GROWTH
dc.subjectAVERAGE PRODUCTIVITY
dc.subjectAVERAGE WAGES
dc.subjectBANKING CRISES
dc.subjectBANKING SYSTEMS
dc.subjectBASIS POINTS
dc.subjectBENCHMARK
dc.subjectBENEFICIARIES
dc.subjectBORROWING
dc.subjectBORROWING REQUIREMENTS
dc.subjectCAPITAL MARKETS
dc.subjectCASH TRANSFER
dc.subjectCASH TRANSFERS
dc.subjectCD
dc.subjectCENTRAL BANKS
dc.subjectCOMPENSATORY MEASURES
dc.subjectCONSUMER PREFERENCES
dc.subjectCROSS-SECTIONAL DATA
dc.subjectCURRENCY CRISES
dc.subjectCURRENCY MISMATCHES
dc.subjectDATA SETS
dc.subjectDEBT
dc.subjectDEBT CRISIS
dc.subjectDEBT MARKETS
dc.subjectDEMAND CURVES
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPED WORLD
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING REGIONS
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT INDICATORS
dc.subjectDEVELOPMENT POLICY
dc.subjectDEVELOPMENT REPORT
dc.subjectDISTRIBUTIONAL IMPACT
dc.subjectDRIVERS
dc.subjectEARNINGS LOSS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC DOWNTURNS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC SHOCK
dc.subjectECONOMICS
dc.subjectECONOMICS RESEARCH
dc.subjectELASTICITY
dc.subjectELASTICITY OF SUBSTITUTION
dc.subjectEMERGING ECONOMIES
dc.subjectEMPLOYMENT GROWTH
dc.subjectEMPLOYMENT PROGRAM
dc.subjectEMPLOYMENT SERVICES
dc.subjectEQUILIBRIUM
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectEXPLAINING CHANGES
dc.subjectEXPORTS
dc.subjectEXTERNAL FACTORS
dc.subjectEXTREME POVERTY
dc.subjectFACTOR MARKETS
dc.subjectFEMALE EMPLOYMENT
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SYSTEMS
dc.subjectFISCAL POLICY
dc.subjectFIXED INVESTMENT
dc.subjectFLEXIBLE EXCHANGE RATES
dc.subjectFORECASTS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY DEBT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN INVESTMENT
dc.subjectGDP
dc.subjectGDP DEFLATOR
dc.subjectGDP PER CAPITA
dc.subjectGENERAL EQUILIBRIUM
dc.subjectGENERAL EQUILIBRIUM MODELS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH POLICIES
dc.subjectGROWTH RATES
dc.subjectHEALTH CARE
dc.subjectHOUSEHOLD INCOME
dc.subjectHOUSEHOLD INCOMES
dc.subjectHOUSEHOLD SURVEY
dc.subjectHOUSEHOLD SURVEYS
dc.subjectHOUSEHOLD WELFARE
dc.subjectHUMAN DEVELOPMENT
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME GROUPS
dc.subjectINCOME INEQUALITY
dc.subjectINCOME SUPPORT PROGRAM
dc.subjectINCREASE POVERTY
dc.subjectINEQUALITY MEASURES
dc.subjectINFANT MORTALITY
dc.subjectINFORMAL SECTOR
dc.subjectINSURANCE
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT FUND
dc.subjectJOB DESTRUCTION
dc.subjectJOB LOSSES
dc.subjectJOBS
dc.subjectLABOR ADJUSTMENT
dc.subjectLABOR DEMAND
dc.subjectLABOR ECONOMICS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET ADJUSTMENT
dc.subjectLABOR MARKET PERFORMANCE
dc.subjectLABOR MARKET POLICY
dc.subjectLABOR MARKET PROGRAMS
dc.subjectLABOR MARKET VARIABLES
dc.subjectLABOR MARKETS
dc.subjectLABOR PRODUCTIVITY
dc.subjectLABOR PROGRAM
dc.subjectLABOR SUPPLY
dc.subjectLABOR SURVEYS
dc.subjectLABOUR
dc.subjectLIQUIDITY
dc.subjectLIVING STANDARD
dc.subjectLOCAL CURRENCY
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC VARIABLES
dc.subjectMATHEMATICS
dc.subjectMEASURING POVERTY
dc.subjectMICRO MODEL
dc.subjectMICRODATA
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectNATIONAL ACCOUNTS
dc.subjectNEGATIVE IMPACT
dc.subjectNET EXPORTS
dc.subjectOCCUPATION
dc.subjectOUTPUT PER CAPITA
dc.subjectPENSION
dc.subjectPENSIONS
dc.subjectPER CAPITA GROWTH
dc.subjectPER CAPITA INCOME
dc.subjectPERMANENT EMPLOYMENT
dc.subjectPOLICY ANALYSIS
dc.subjectPOLICY DEBATE
dc.subjectPOLICY MESSAGES
dc.subjectPOLICY OPTIONS
dc.subjectPOLICY RESPONSE
dc.subjectPOLICY RESPONSES
dc.subjectPOPULATION GROUP
dc.subjectPOPULOUS COUNTRIES
dc.subjectPOVERTY CHANGES
dc.subjectPOVERTY GAP
dc.subjectPOVERTY IMPACT
dc.subjectPOVERTY INCREASES
dc.subjectPOVERTY LEVELS
dc.subjectPOVERTY LINES
dc.subjectPOVERTY RATE
dc.subjectPOVERTY RATES
dc.subjectPOVERTY REDUCTION
dc.subjectPREVIOUS ONES
dc.subjectPRIVATE TRANSFERS
dc.subjectPRODUCTIVITY
dc.subjectPUBLIC EMPLOYMENT
dc.subjectPUBLIC EMPLOYMENT SERVICES
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR BORROWING
dc.subjectPURCHASING POWER
dc.subjectREAL GDP
dc.subjectREAL WAGES
dc.subjectRECESSION
dc.subjectREDUCED POVERTY
dc.subjectREGULATORY FRAMEWORKS
dc.subjectREMITTANCES
dc.subjectRENTS
dc.subjectRETURNS
dc.subjectRISING UNEMPLOYMENT
dc.subjectSAVINGS ACCOUNT
dc.subjectSIGNIFICANT IMPACT
dc.subjectSKILL TYPE
dc.subjectSOCIAL DEVELOPMENT
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL SECURITY
dc.subjectTEMPORARY EMPLOYMENT
dc.subjectTEMPORARY INCOME SUPPORT
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRADE LIBERALIZATION
dc.subjectUNEMPLOYED
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT BENEFITS
dc.subjectUNEMPLOYMENT COMPENSATION
dc.subjectUNEMPLOYMENT INSURANCE
dc.subjectUNEMPLOYMENT INSURANCE PROGRAMS
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectUNSKILLED WORKERS
dc.subjectVALUE ADDED
dc.subjectWAGE BILL
dc.subjectWAGES
dc.subjectWELFARE IMPACT
dc.subjectWORKER
dc.subjectWORKING HOURS
dc.subjectYOUTH UNEMPLOYMENT
dc.subjectYOUTH UNEMPLOYMENT RATE
dc.titleUnderstanding the Poverty Impact of the Global Financial Crisis in Latin America and the Caribbeanen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.disclosure2014-06-20
okr.doctypePublications & Research::Publication
okr.docurlhttp://documents.worldbank.org/curated/en/2014/06/19702913/understanding-poverty-impact-global-financial-crisis-latin-america-caribbean
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeSocial Protection and Labor
okr.globalpracticePoverty
okr.globalpracticeFinance and Markets
okr.guid456681468045552129
okr.identifier.doi10.1596/978-1-4648-0241-6
okr.identifier.externaldocumentum000442464_20140620140418
okr.identifier.internaldocumentum19702913
okr.identifier.report88887
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/06/20/000442464_20140620140418/Rendered/PDF/888870PUB0Box30EPI2102410June122014.pdfen
okr.peerreviewAcademic Peer Review
okr.region.administrativeLatin America & Caribbean
okr.region.geographicalCaribbean
okr.region.geographicalLatin America
okr.topicPoverty Reduction::Achieving Shared Growth
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicSocial Protections and Labor::Labor Markets
okr.topicSocial Protections and Labor::Labor Policies
okr.topicEconomic Theory and Research
okr.topicMacroeconomics and Economic Growth
okr.unitOffice of the Chief Economist (ECACE)
okr.volume1 of 1
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