Publication:
Globalized, Resilient, Dynamic: The New Face of Latin America and the Caribbean

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dc.contributor.authorWorld Bank
dc.date.accessioned2017-08-14T20:35:31Z
dc.date.available2017-08-14T20:35:31Z
dc.date.issued2010-10-06
dc.description.abstractMany countries in the Latin America and the Caribbean (LAC) region, especially in South America, fared well during the global crisis and are now on a strong growth path. The region s recession in 2009 was relatively short lived and, with the notable exception of Mexico, remarkably mild. The current pace of economic recovery is exceeding expectations, with gross domestic product (GDP) projected to grow in the 5-6 percent range in 2010. This report discusses LAC's newfound resilience in the midst of financial globalization, examining key features of the cyclical behavior of LAC economies in comparison to other emerging economies and to its own past. Resilience is defined throughout this report in a broad sense to denote the ability of an economy to navigate with minimum disturbances through shocks, cushioning their negative spillovers in bad times, and recovering fast after a downturn. The report is structured as follows: first, it evaluates the relative performance of LAC countries during the contractionary period generated by the recent global crisis, to shed light on LAC's ability to shield its economies or soften the blow of a large external shock. Second, a similar exercise is conducted for the recovery phase of the cycle, when in the aftermath of an external shock more resilient countries will be expected to have a faster and more robust recovery. Third, it takes a deeper look at the different driving forces behind the recovery, including the role of domestic demand, commodity prices, and the connection to emerging Asia. Fourth, it provides evidence of the ability of different countries in LAC to conduct counter-cyclical policies in response to the global financial crisis. Lastly, a concluding section warns about the main macro-financial tensions and challenges lying ahead for the region.en
dc.identifierhttp://documents.worldbank.org/curated/en/822921468226208380/Globalized-resilient-dynamic-the-new-face-of-Latin-America-and-the-Caribbean
dc.identifier.doi10.1596/27782
dc.identifier.urihttps://hdl.handle.net/10986/27782
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectADVANCED COUNTRIES
dc.subjectADVANCED ECONOMIES
dc.subjectADVERSE EFFECTS
dc.subjectASSET CLASS
dc.subjectASSET PRICE
dc.subjectASSET PRICES
dc.subjectASSET VALUES
dc.subjectBALANCE SHEET
dc.subjectBALANCE SHEETS
dc.subjectBANK CREDIT
dc.subjectBANKING CRISES
dc.subjectBANKING SYSTEM
dc.subjectBUFFERS
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL ACCOUNT
dc.subjectCAPITAL FLIGHT
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INFLOW
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL OUTFLOWS
dc.subjectCDS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCOLLATERAL
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCOUNTRY EQUITY
dc.subjectCOUNTRY FORECASTS
dc.subjectCOUNTRY MARKETS
dc.subjectCREDIBILITY
dc.subjectCREDIT AVAILABILITY
dc.subjectCREDIT FLOWS
dc.subjectCREDIT SPREADS
dc.subjectCREDITOR
dc.subjectCRITICAL MASS
dc.subjectCURRENCY
dc.subjectCURRENCY CRISES
dc.subjectCURRENCY CRISIS
dc.subjectCURRENCY MISMATCHES
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT
dc.subjectDEBT BURDENS
dc.subjectDEBT CONTRACTS
dc.subjectDEBT FLOWS
dc.subjectDEBT LEVELS
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT MARKETS
dc.subjectDEBT-SERVICE
dc.subjectDEBTOR
dc.subjectDEPOSIT
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING ECONOMIES
dc.subjectDOMESTIC BANKING
dc.subjectDOMESTIC CURRENCIES
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEMAND
dc.subjectDOMESTIC ECONOMY
dc.subjectDOMESTIC MARKET
dc.subjectDYNAMIC EMERGING MARKETS
dc.subjectECONOMIC DOWNTURN
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET ASSET
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEQUITY CONTRACTS
dc.subjectEQUITY INDEXES
dc.subjectEQUITY MARKETS
dc.subjectEQUITY PRICES
dc.subjectEQUITY RETURNS
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE FLEXIBILITY
dc.subjectEXCHANGE RATE FLOAT
dc.subjectEXCHANGE RATE FLUCTUATIONS
dc.subjectEXCHANGE RATE MOVEMENTS
dc.subjectEXCHANGE RATE REGIME
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORTERS
dc.subjectEXPOSURE
dc.subjectEXTERNAL ASSETS
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL SHOCK
dc.subjectEXTERNAL SHOCKS
dc.subjectFINANCIAL CONTAGION
dc.subjectFINANCIAL CONTRACTS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL LIBERALIZATION
dc.subjectFINANCIAL OPENNESS
dc.subjectFINANCIAL POLICY
dc.subjectFINANCIAL SECTORS
dc.subjectFINANCIAL SHOCKS
dc.subjectFINANCIAL SYSTEMS
dc.subjectFINANCIAL VULNERABILITIES
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFLEXIBLE EXCHANGE RATE REGIMES
dc.subjectFLEXIBLE EXCHANGE RATES
dc.subjectFLOW OF CAPITAL
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY DEBT
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN FINANCING
dc.subjectGEOGRAPHIC DISTRIBUTION
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL OUTPUT
dc.subjectGLOBAL RISK
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectHEDGE FUND
dc.subjectHOUSING FINANCE
dc.subjectINCOME
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINFLATION
dc.subjectINFLATION CRISES
dc.subjectINFLATION RATE
dc.subjectINSTITUTION BUILDING
dc.subjectINSTITUTIONAL CAPACITY
dc.subjectINSTRUMENT
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL FINANCIAL INTEGRATION
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINTERNATIONAL FINANCIAL SYSTEM
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL RESERVE
dc.subjectINTERNATIONAL RESERVES
dc.subjectINVENTORY
dc.subjectIRRATIONAL EXUBERANCE
dc.subjectLABOR MARKET
dc.subjectLEVY
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOCAL CURRENCY
dc.subjectLONG-TERM CAPITAL
dc.subjectMACROECONOMIC FLUCTUATIONS
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC VOLATILITY
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectNATURAL RESOURCES
dc.subjectNEGATIVE SHOCK
dc.subjectNET DEBT
dc.subjectNOMINAL INTEREST RATE
dc.subjectNOMINAL INTEREST RATES
dc.subjectOUTPUT
dc.subjectPOLICY RESPONSE
dc.subjectPOLICY RESPONSES
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE CREDIT
dc.subjectPRIVATE CREDITORS
dc.subjectPUBLIC DEBTS
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC SAVINGS
dc.subjectPUBLIC SECTOR DEBT
dc.subjectREAL ECONOMIC ACTIVITY
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATE
dc.subjectREAL INTEREST RATES
dc.subjectRECESSION
dc.subjectRECESSIONS
dc.subjectRESERVE
dc.subjectRESERVES
dc.subjectRESIDENTIAL MORTGAGES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRETURNS ON EQUITIES
dc.subjectRISK AVERSION
dc.subjectRISK FACTORS
dc.subjectSHORT-TERM FOREIGN LIABILITIES
dc.subjectSTOCK INDEX
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKET CAPITALIZATION
dc.subjectSTOCK MARKETS
dc.subjectSTOCKS
dc.subjectSUB-NATIONAL DEBT
dc.subjectSUB-NATIONAL DEBT MARKET
dc.subjectSUB-NATIONAL ENTITIES
dc.subjectSWAP
dc.subjectTAX
dc.subjectTRADE FINANCE
dc.subjectTRADING
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectUNEMPLOYMENT RATES
dc.subjectVOLATILITIES
dc.subjectWEAK BANKING SYSTEMS
dc.subjectWEAK CURRENCIES
dc.subjectWHOLESALE FUNDING
dc.subjectWHOLESALE MARKET
dc.subjectWORLD ECONOMY
dc.subjectWORLD FINANCIAL MARKETS
dc.subjectWORLD MARKETS
dc.subjectWORLD TRADE
dc.titleGlobalized, Resilient, Dynamicen
dc.title.alternativeGlobalizada, resistente, dinamica : la nueva cara de latinoamerica y el Caribeen
dc.title.subtitleThe New Face of Latin America and the Caribbeanen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleGlobalized, Resilient, Dynamic
okr.date.disclosure2013-06-17
okr.date.doiregistration2025-05-09T11:07:24.589598Z
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/822921468226208380/Globalized-resilient-dynamic-the-new-face-of-Latin-America-and-the-Caribbean
okr.guid822921468226208380
okr.guid285891468012044477
okr.identifier.externaldocumentum000442464_20130617123534
okr.identifier.internaldocumentum17872588
okr.identifier.report78498
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/822921468226208380/pdf/784980WP0NewFa00Box377344B00PUBLIC0.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.geographicalCaribbean
okr.region.geographicalLatin America
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topicInternational Economics and Trade::Globalization and Financial Integration
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.unitChief Economist (LCRCE)
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Latin America and the Caribbean Economic Review