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

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collection.link.336
https://openknowledge.worldbank.org/handle/10986/32464
collection.name.336
Directions in Development
dc.contributor.author
Grosh, Margaret
dc.contributor.author
Bussolo, Maurizio
dc.contributor.author
Freije, Samuel
dc.contributor.editor
Grosh, Margaret
dc.contributor.editor
Bussolo, Maurizio
dc.contributor.editor
Freije, Samuel
dc.date.accessioned
2014-06-23T22:02:06Z
dc.date.available
2014-06-23T22:02:06Z
dc.date.issued
2014-06-18
dc.date.lastModified
2021-04-23T14:03:49Z
dc.description.abstract
Any 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.identifier
http://documents.worldbank.org/curated/en/2014/06/19702913/understanding-poverty-impact-global-financial-crisis-latin-america-caribbean
dc.identifier.isbn
978-1-4648-0241-6
dc.identifier.other
10.1596/978-1-4648-0241-6
dc.identifier.uri
http://hdl.handle.net/10986/18727
dc.language
English
dc.language.iso
en_US
dc.publisher
Washington, DC: World Bank
dc.relation.ispartofseries
Directions in Development--Human Development;
dc.rights
CC BY 3.0 IGO
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTING
dc.subject
ACTIVE LABOR
dc.subject
ACTIVE LABOR MARKET
dc.subject
ACTIVE LABOR MARKET POLICY
dc.subject
ADVISERS
dc.subject
AGGREGATE DEMAND
dc.subject
AGGREGATE EMPLOYMENT
dc.subject
AGGREGATE OUTPUT
dc.subject
ANNUAL CHANGE
dc.subject
ANNUAL GROWTH
dc.subject
ANNUAL GROWTH RATE
dc.subject
AVERAGE GROWTH
dc.subject
AVERAGE INCOME
dc.subject
AVERAGE INCOME GROWTH
dc.subject
AVERAGE PRODUCTIVITY
dc.subject
AVERAGE WAGES
dc.subject
BANKING CRISES
dc.subject
BANKING SYSTEMS
dc.subject
BASIS POINTS
dc.subject
BENCHMARK
dc.subject
BENEFICIARIES
dc.subject
BORROWING
dc.subject
BORROWING REQUIREMENTS
dc.subject
CAPITAL MARKETS
dc.subject
CASH TRANSFER
dc.subject
CASH TRANSFERS
dc.subject
CD
dc.subject
CENTRAL BANKS
dc.subject
COMPENSATORY MEASURES
dc.subject
CONSUMER PREFERENCES
dc.subject
CROSS-SECTIONAL DATA
dc.subject
CURRENCY CRISES
dc.subject
CURRENCY MISMATCHES
dc.subject
DATA SETS
dc.subject
DEBT
dc.subject
DEBT CRISIS
dc.subject
DEBT MARKETS
dc.subject
DEMAND CURVES
dc.subject
DEVELOPED COUNTRIES
dc.subject
DEVELOPED WORLD
dc.subject
DEVELOPING COUNTRIES
dc.subject
DEVELOPING REGIONS
dc.subject
DEVELOPMENT BANK
dc.subject
DEVELOPMENT ECONOMICS
dc.subject
DEVELOPMENT INDICATORS
dc.subject
DEVELOPMENT POLICY
dc.subject
DEVELOPMENT REPORT
dc.subject
DISTRIBUTIONAL IMPACT
dc.subject
DRIVERS
dc.subject
EARNINGS LOSS
dc.subject
ECONOMIC ACTIVITY
dc.subject
ECONOMIC CONDITIONS
dc.subject
ECONOMIC DOWNTURNS
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC POLICY
dc.subject
ECONOMIC SHOCK
dc.subject
ECONOMICS
dc.subject
ECONOMICS RESEARCH
dc.subject
ELASTICITY
dc.subject
ELASTICITY OF SUBSTITUTION
dc.subject
EMERGING ECONOMIES
dc.subject
EMPLOYMENT GROWTH
dc.subject
EMPLOYMENT PROGRAM
dc.subject
EMPLOYMENT SERVICES
dc.subject
EQUILIBRIUM
dc.subject
EXCHANGE RATE
dc.subject
EXCHANGE RATES
dc.subject
EXPENDITURE
dc.subject
EXPLAINING CHANGES
dc.subject
EXPORTS
dc.subject
EXTERNAL FACTORS
dc.subject
EXTREME POVERTY
dc.subject
FACTOR MARKETS
dc.subject
FEMALE EMPLOYMENT
dc.subject
FINANCIAL ASSETS
dc.subject
FINANCIAL CRISES
dc.subject
FINANCIAL CRISIS
dc.subject
FINANCIAL SYSTEMS
dc.subject
FISCAL POLICY
dc.subject
FIXED INVESTMENT
dc.subject
FLEXIBLE EXCHANGE RATES
dc.subject
FORECASTS
dc.subject
FOREIGN CURRENCY
dc.subject
FOREIGN CURRENCY DEBT
dc.subject
FOREIGN EXCHANGE
dc.subject
FOREIGN INVESTMENT
dc.subject
GDP
dc.subject
GDP DEFLATOR
dc.subject
GDP PER CAPITA
dc.subject
GENERAL EQUILIBRIUM
dc.subject
GENERAL EQUILIBRIUM MODELS
dc.subject
GOVERNMENT DEBT
dc.subject
GOVERNMENT EXPENDITURES
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
GROWTH POLICIES
dc.subject
GROWTH RATES
dc.subject
HEALTH CARE
dc.subject
HOUSEHOLD INCOME
dc.subject
HOUSEHOLD INCOMES
dc.subject
HOUSEHOLD SURVEY
dc.subject
HOUSEHOLD SURVEYS
dc.subject
HOUSEHOLD WELFARE
dc.subject
HUMAN DEVELOPMENT
dc.subject
INCOME DISTRIBUTION
dc.subject
INCOME GROUPS
dc.subject
INCOME INEQUALITY
dc.subject
INCOME SUPPORT PROGRAM
dc.subject
INCREASE POVERTY
dc.subject
INEQUALITY MEASURES
dc.subject
INFANT MORTALITY
dc.subject
INFORMAL SECTOR
dc.subject
INSURANCE
dc.subject
INTERNATIONAL BANK
dc.subject
INTERNATIONAL ECONOMICS
dc.subject
INTERNATIONAL FINANCE
dc.subject
INTERNATIONAL TRADE
dc.subject
INVESTMENT FUND
dc.subject
JOB DESTRUCTION
dc.subject
JOB LOSSES
dc.subject
JOBS
dc.subject
LABOR ADJUSTMENT
dc.subject
LABOR DEMAND
dc.subject
LABOR ECONOMICS
dc.subject
LABOR FORCE
dc.subject
LABOR MARKET
dc.subject
LABOR MARKET ADJUSTMENT
dc.subject
LABOR MARKET PERFORMANCE
dc.subject
LABOR MARKET POLICY
dc.subject
LABOR MARKET PROGRAMS
dc.subject
LABOR MARKET VARIABLES
dc.subject
LABOR MARKETS
dc.subject
LABOR PRODUCTIVITY
dc.subject
LABOR PROGRAM
dc.subject
LABOR SUPPLY
dc.subject
LABOR SURVEYS
dc.subject
LABOUR
dc.subject
LIQUIDITY
dc.subject
LIVING STANDARD
dc.subject
LOCAL CURRENCY
dc.subject
MACROECONOMIC POLICIES
dc.subject
MACROECONOMIC VARIABLES
dc.subject
MATHEMATICS
dc.subject
MEASURING POVERTY
dc.subject
MICRO MODEL
dc.subject
MICRODATA
dc.subject
MONETARY FUND
dc.subject
MONETARY POLICY
dc.subject
NATIONAL ACCOUNTS
dc.subject
NEGATIVE IMPACT
dc.subject
NET EXPORTS
dc.subject
OCCUPATION
dc.subject
OUTPUT PER CAPITA
dc.subject
PENSION
dc.subject
PENSIONS
dc.subject
PER CAPITA GROWTH
dc.subject
PER CAPITA INCOME
dc.subject
PERMANENT EMPLOYMENT
dc.subject
POLICY ANALYSIS
dc.subject
POLICY DEBATE
dc.subject
POLICY MESSAGES
dc.subject
POLICY OPTIONS
dc.subject
POLICY RESPONSE
dc.subject
POLICY RESPONSES
dc.subject
POPULATION GROUP
dc.subject
POPULOUS COUNTRIES
dc.subject
POVERTY CHANGES
dc.subject
POVERTY GAP
dc.subject
POVERTY IMPACT
dc.subject
POVERTY INCREASES
dc.subject
POVERTY LEVELS
dc.subject
POVERTY LINES
dc.subject
POVERTY RATE
dc.subject
POVERTY RATES
dc.subject
POVERTY REDUCTION
dc.subject
PREVIOUS ONES
dc.subject
PRIVATE TRANSFERS
dc.subject
PRODUCTIVITY
dc.subject
PUBLIC EMPLOYMENT
dc.subject
PUBLIC EMPLOYMENT SERVICES
dc.subject
PUBLIC SECTOR
dc.subject
PUBLIC SECTOR BORROWING
dc.subject
PURCHASING POWER
dc.subject
REAL GDP
dc.subject
REAL WAGES
dc.subject
RECESSION
dc.subject
REDUCED POVERTY
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REGULATORY FRAMEWORKS
dc.subject
REMITTANCES
dc.subject
RENTS
dc.subject
RETURNS
dc.subject
RISING UNEMPLOYMENT
dc.subject
SAVINGS ACCOUNT
dc.subject
SIGNIFICANT IMPACT
dc.subject
SKILL TYPE
dc.subject
SOCIAL DEVELOPMENT
dc.subject
SOCIAL PROTECTION
dc.subject
SOCIAL SECURITY
dc.subject
TEMPORARY EMPLOYMENT
dc.subject
TEMPORARY INCOME SUPPORT
dc.subject
TOTAL FACTOR PRODUCTIVITY
dc.subject
TRADE LIBERALIZATION
dc.subject
UNEMPLOYED
dc.subject
UNEMPLOYMENT
dc.subject
UNEMPLOYMENT BENEFITS
dc.subject
UNEMPLOYMENT COMPENSATION
dc.subject
UNEMPLOYMENT INSURANCE
dc.subject
UNEMPLOYMENT INSURANCE PROGRAMS
dc.subject
UNEMPLOYMENT RATE
dc.subject
UNEMPLOYMENT RATES
dc.subject
UNSKILLED WORKERS
dc.subject
VALUE ADDED
dc.subject
WAGE BILL
dc.subject
WAGES
dc.subject
WELFARE IMPACT
dc.subject
WORKER
dc.subject
WORKING HOURS
dc.subject
YOUTH UNEMPLOYMENT
dc.subject
YOUTH UNEMPLOYMENT RATE
dc.title
Understanding the Poverty Impact of the Global Financial Crisis in Latin America and the Caribbean
en
okr.crosscuttingsolutionarea
Jobs
okr.date.disclosure
2014-06-20
okr.doctype
Publications & Research :: Publication
okr.docurl
http://documents.worldbank.org/curated/en/2014/06/19702913/understanding-poverty-impact-global-financial-crisis-latin-america-caribbean
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Social Protection and Labor
okr.globalpractice
Poverty
okr.globalpractice
Finance and Markets
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/978-1-4648-0241-6
okr.identifier.externaldocumentum
000442464_20140620140418
okr.identifier.internaldocumentum
19702913
okr.identifier.report
88887
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/06/20/000442464_20140620140418/Rendered/PDF/888870PUB0Box30EPI2102410June122014.pdf
en
okr.peerreview
Academic Peer Review
okr.region.administrative
Latin America & Caribbean
okr.region.geographical
Caribbean
okr.region.geographical
Latin America
okr.topic
Poverty Reduction :: Achieving Shared Growth
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Social Protections and Labor :: Labor Markets
okr.topic
Social Protections and Labor :: Labor Policies
okr.topic
Economic Theory and Research
okr.topic
Macroeconomics and Economic Growth
okr.unit
Office of the Chief Economist (ECACE)
okr.volume
1 of 1

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