Report

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

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collection.link.215
https://openknowledge.worldbank.org/handle/10986/11883
collection.name.215
LAC Semiannual Report
dc.contributor.author
World Bank
dc.date.accessioned
2017-08-14T20:35:31Z
dc.date.available
2017-08-14T20:35:31Z
dc.date.issued
2010-10-06
dc.date.lastModified
2017-12-14T05:33:40Z
dc.description.abstract
Many 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.identifier
http://documents.worldbank.org/curated/en/822921468226208380/Globalized-resilient-dynamic-the-new-face-of-Latin-America-and-the-Caribbean
dc.identifier.uri
http://hdl.handle.net/10986/27782
dc.language
English
dc.language.iso
en_US
dc.publisher
Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
ADVANCED COUNTRIES
dc.subject
ADVANCED ECONOMIES
dc.subject
ADVERSE EFFECTS
dc.subject
ASSET CLASS
dc.subject
ASSET PRICE
dc.subject
ASSET PRICES
dc.subject
ASSET VALUES
dc.subject
BALANCE SHEET
dc.subject
BALANCE SHEETS
dc.subject
BANK CREDIT
dc.subject
BANKING CRISES
dc.subject
BANKING SYSTEM
dc.subject
BUFFERS
dc.subject
BUSINESS CYCLE
dc.subject
BUSINESS CYCLES
dc.subject
CAPACITY BUILDING
dc.subject
CAPITAL ACCOUNT
dc.subject
CAPITAL FLIGHT
dc.subject
CAPITAL FLOWS
dc.subject
CAPITAL INFLOW
dc.subject
CAPITAL INFLOWS
dc.subject
CAPITAL INVESTMENT
dc.subject
CAPITAL OUTFLOWS
dc.subject
CDS
dc.subject
CENTRAL BANK
dc.subject
CENTRAL BANKS
dc.subject
COLLATERAL
dc.subject
COMMODITIES
dc.subject
COMMODITY
dc.subject
COMMODITY PRICE
dc.subject
COMMODITY PRICES
dc.subject
COUNTRY EQUITY
dc.subject
COUNTRY FORECASTS
dc.subject
COUNTRY MARKETS
dc.subject
CREDIBILITY
dc.subject
CREDIT AVAILABILITY
dc.subject
CREDIT FLOWS
dc.subject
CREDIT SPREADS
dc.subject
CREDITOR
dc.subject
CRITICAL MASS
dc.subject
CURRENCY
dc.subject
CURRENCY CRISES
dc.subject
CURRENCY CRISIS
dc.subject
CURRENCY MISMATCHES
dc.subject
CURRENT ACCOUNT
dc.subject
CURRENT ACCOUNT DEFICIT
dc.subject
CURRENT ACCOUNT DEFICITS
dc.subject
DEBT
dc.subject
DEBT BURDENS
dc.subject
DEBT CONTRACTS
dc.subject
DEBT FLOWS
dc.subject
DEBT LEVELS
dc.subject
DEBT MANAGEMENT
dc.subject
DEBT MARKETS
dc.subject
DEBT-SERVICE
dc.subject
DEBTOR
dc.subject
DEPOSIT
dc.subject
DEPOSITORS
dc.subject
DEPOSITS
dc.subject
DEVELOPING COUNTRIES
dc.subject
DEVELOPING ECONOMIES
dc.subject
DOMESTIC BANKING
dc.subject
DOMESTIC CURRENCIES
dc.subject
DOMESTIC DEBT
dc.subject
DOMESTIC DEMAND
dc.subject
DOMESTIC ECONOMY
dc.subject
DOMESTIC MARKET
dc.subject
DYNAMIC EMERGING MARKETS
dc.subject
ECONOMIC DOWNTURN
dc.subject
EMERGING ECONOMIES
dc.subject
EMERGING MARKET
dc.subject
EMERGING MARKET ASSET
dc.subject
EMERGING MARKET ECONOMIES
dc.subject
EMERGING MARKETS
dc.subject
EQUITY CONTRACTS
dc.subject
EQUITY INDEXES
dc.subject
EQUITY MARKETS
dc.subject
EQUITY PRICES
dc.subject
EQUITY RETURNS
dc.subject
EXCHANGE RATE
dc.subject
EXCHANGE RATE FLEXIBILITY
dc.subject
EXCHANGE RATE FLOAT
dc.subject
EXCHANGE RATE FLUCTUATIONS
dc.subject
EXCHANGE RATE MOVEMENTS
dc.subject
EXCHANGE RATE REGIME
dc.subject
EXCHANGE RATES
dc.subject
EXPENDITURES
dc.subject
EXPORT GROWTH
dc.subject
EXPORTERS
dc.subject
EXPOSURE
dc.subject
EXTERNAL ASSETS
dc.subject
EXTERNAL DEBT
dc.subject
EXTERNAL SHOCK
dc.subject
EXTERNAL SHOCKS
dc.subject
FINANCIAL CONTAGION
dc.subject
FINANCIAL CONTRACTS
dc.subject
FINANCIAL CRISES
dc.subject
FINANCIAL CRISIS
dc.subject
FINANCIAL INSTITUTIONS
dc.subject
FINANCIAL INTERMEDIARIES
dc.subject
FINANCIAL LIBERALIZATION
dc.subject
FINANCIAL OPENNESS
dc.subject
FINANCIAL POLICY
dc.subject
FINANCIAL SECTORS
dc.subject
FINANCIAL SHOCKS
dc.subject
FINANCIAL SYSTEMS
dc.subject
FINANCIAL VULNERABILITIES
dc.subject
FISCAL POLICIES
dc.subject
FISCAL POLICY
dc.subject
FLEXIBLE EXCHANGE RATE
dc.subject
FLEXIBLE EXCHANGE RATE REGIMES
dc.subject
FLEXIBLE EXCHANGE RATES
dc.subject
FLOW OF CAPITAL
dc.subject
FOREIGN BANKS
dc.subject
FOREIGN CURRENCY
dc.subject
FOREIGN CURRENCY DEBT
dc.subject
FOREIGN DEBT
dc.subject
FOREIGN EXCHANGE
dc.subject
FOREIGN FINANCING
dc.subject
GEOGRAPHIC DISTRIBUTION
dc.subject
GLOBAL ECONOMY
dc.subject
GLOBAL OUTPUT
dc.subject
GLOBAL RISK
dc.subject
GLOBALIZATION
dc.subject
GOVERNMENT BUDGET
dc.subject
GOVERNMENT DEBT
dc.subject
GOVERNMENT EXPENDITURES
dc.subject
GROWTH RATE
dc.subject
GROWTH RATES
dc.subject
HEDGE FUND
dc.subject
HOUSING FINANCE
dc.subject
INCOME
dc.subject
INDUSTRIAL COUNTRIES
dc.subject
INFLATION
dc.subject
INFLATION CRISES
dc.subject
INFLATION RATE
dc.subject
INSTITUTION BUILDING
dc.subject
INSTITUTIONAL CAPACITY
dc.subject
INSTRUMENT
dc.subject
INTEREST RATES
dc.subject
INTERNATIONAL CAPITAL
dc.subject
INTERNATIONAL CAPITAL MARKETS
dc.subject
INTERNATIONAL FINANCIAL INTEGRATION
dc.subject
INTERNATIONAL FINANCIAL MARKETS
dc.subject
INTERNATIONAL FINANCIAL STATISTICS
dc.subject
INTERNATIONAL FINANCIAL SYSTEM
dc.subject
INTERNATIONAL MARKETS
dc.subject
INTERNATIONAL RESERVE
dc.subject
INTERNATIONAL RESERVES
dc.subject
INVENTORY
dc.subject
IRRATIONAL EXUBERANCE
dc.subject
LABOR MARKET
dc.subject
LEVY
dc.subject
LIQUIDITY
dc.subject
LOAN
dc.subject
LOCAL CURRENCY
dc.subject
LONG-TERM CAPITAL
dc.subject
MACROECONOMIC FLUCTUATIONS
dc.subject
MACROECONOMIC POLICIES
dc.subject
MACROECONOMIC POLICY
dc.subject
MACROECONOMIC VOLATILITY
dc.subject
MONETARY POLICIES
dc.subject
MONETARY POLICY
dc.subject
NATURAL RESOURCES
dc.subject
NEGATIVE SHOCK
dc.subject
NET DEBT
dc.subject
NOMINAL INTEREST RATE
dc.subject
NOMINAL INTEREST RATES
dc.subject
OUTPUT
dc.subject
POLICY RESPONSE
dc.subject
POLICY RESPONSES
dc.subject
PRIVATE BANKS
dc.subject
PRIVATE CREDIT
dc.subject
PRIVATE CREDITORS
dc.subject
PUBLIC DEBTS
dc.subject
PUBLIC FINANCES
dc.subject
PUBLIC SAVINGS
dc.subject
PUBLIC SECTOR DEBT
dc.subject
REAL ECONOMIC ACTIVITY
dc.subject
REAL INTEREST
dc.subject
REAL INTEREST RATE
dc.subject
REAL INTEREST RATES
dc.subject
RECESSION
dc.subject
RECESSIONS
dc.subject
RESERVE
dc.subject
RESERVES
dc.subject
RESIDENTIAL MORTGAGES
dc.subject
RETURN
dc.subject
RETURNS
dc.subject
RETURNS ON EQUITIES
dc.subject
RISK AVERSION
dc.subject
RISK FACTORS
dc.subject
SHORT-TERM FOREIGN LIABILITIES
dc.subject
STOCK INDEX
dc.subject
STOCK MARKET
dc.subject
STOCK MARKET CAPITALIZATION
dc.subject
STOCK MARKETS
dc.subject
STOCKS
dc.subject
SUB-NATIONAL DEBT
dc.subject
SUB-NATIONAL DEBT MARKET
dc.subject
SUB-NATIONAL ENTITIES
dc.subject
SWAP
dc.subject
TAX
dc.subject
TRADE FINANCE
dc.subject
TRADING
dc.subject
TRANSPARENCY
dc.subject
TREASURY
dc.subject
UNEMPLOYMENT RATES
dc.subject
VOLATILITIES
dc.subject
WEAK BANKING SYSTEMS
dc.subject
WEAK CURRENCIES
dc.subject
WHOLESALE FUNDING
dc.subject
WHOLESALE MARKET
dc.subject
WORLD ECONOMY
dc.subject
WORLD FINANCIAL MARKETS
dc.subject
WORLD MARKETS
dc.subject
WORLD TRADE
dc.title
Globalized, Resilient, Dynamic
en
dc.title.alternative
Globalizada, resistente, dinamica : la nueva cara de latinoamerica y el Caribe
en
dc.title.subtitle
The New Face of Latin America and the Caribbean
en
dc.type
Report
en
okr.date.disclosure
2013-06-17
okr.doctype
Publications & Research :: Working Paper
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/822921468226208380/Globalized-resilient-dynamic-the-new-face-of-Latin-America-and-the-Caribbean
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000442464_20130617123534
okr.identifier.internaldocumentum
17872588
okr.identifier.report
78498
okr.imported
true
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/822921468226208380/pdf/784980WP0NewFa00Box377344B00PUBLIC0.pdf
en
okr.region.administrative
Latin America & Caribbean
okr.region.geographical
Caribbean
okr.region.geographical
Latin America
okr.topic
Finance and Financial Sector Development :: Currencies and Exchange Rates
okr.topic
Macroeconomics and Economic Growth :: Economic Conditions and Volatility
okr.topic
International Economics and Trade :: Globalization and Financial Integration
okr.topic
Macroeconomics and Economic Growth :: Business Cycles and Stabilization Policies
okr.topic
Macroeconomics and Economic Growth :: Economic Forecasting
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.topic
Macroeconomics and Economic Growth :: Economic Policy, Institutions and Governance
okr.unit
Chief Economist (LCRCE)

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