The Global Economic Crisis in Latin America

The Global Economic Crisis in Latin America
Author: Michael Cohen
Publisher: Routledge
Total Pages: 234
Release: 2012-06-25
Genre: Business & Economics
ISBN: 1136290141

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When the 2008 housing market bubble burst in the United States, a financial crisis rippled from the epi-center in the United States across borders into economies both near and far, causing persistent social and economic detriment in many countries. The Global Economic Crisis in Latin America: Impacts and Responses is an examination of the impacts and responses in the diverse Latin American region through the lens of three countries: Mexico, Brazil, and Argentina.

The Global Financial and Economic Crisis in the South

The Global Financial and Economic Crisis in the South
Author: Luis Leon-Manriquez
Publisher: African Books Collective
Total Pages: 358
Release: 2015-12-29
Genre: Business & Economics
ISBN: 2869787332

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This book is the outcome of a South-South conference jointly organized by the Asian Political and International Studies Association (APISA), the Latin American Council of Social Sciences (CLACSO) and the Council for the Development of Social Science Research in Africa (CODESRIA) in Dakar, Senegal, May 2012. The conference was organised in response to the financial crisis of 2008 which started in the United States and Europe, with reverberating effects on a global scale. Economic problems emanating from such crises usually leave major social and structural impacts on important sectors of the society internationally. They affect living standards and constrain the well-being of people, especially in poor countries. Persistent problems include high unemployment, increased debt and low growth in developed countries, as well as greater difficulties in accessing finance for investment in the developing world. There is a need for countries in the South to examine the available options for appropriate national and regional responses to the different problems emanating from the economic crisis. This book attempts to provide ideas on some strategic responses to the disastrous impact of the crisis, while keeping in mind the global common interest of the South. It is hoped that the book will contribute significantly towards the agenda to rethink development and the quest for alternative paradigms for a just, stable and equitable global political, economic and social system. A system in which Africa, Asia, and Latin America are emancipated from the shackles of hegemonic and anachronistic neoliberal dictates that have nothing more to offer than crises, vulnerabilities and dependency.

How Latin America Weathered The Global Financial Crisis

How Latin America Weathered The Global Financial Crisis
Author: José De Gregorio
Publisher: Columbia University Press
Total Pages: 205
Release: 2013-10-05
Genre: Business & Economics
ISBN: 0881326798

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Why has the economy of Latin America responded more positively than Asia, Europe or the United States after being hit by the recent global financial crisis? Three years after the worst of the crisis, Latin America's GDP is 25 percent higher than its precrisis level. José De Gregorio, Governor of the Central Bank of Chile from 2007 to 2011, tells the story of how Latin America has responded to the crisis with a perspective that only an insider can have. De Gregorio focuses on the seven largest economies of the region, Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Venezuela (90 percent of the region's output). He argues that Latin America was resilient because of good macroeconomic policies, strong financial systems, and "a bit of luck."

Employment in Crisis

Employment in Crisis
Author: Joana Silva
Publisher: World Bank Publications
Total Pages: 327
Release: 2021-10-08
Genre: Business & Economics
ISBN: 1464816913

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A region known for its volatility, Latin America and the Caribbean (LAC) has suffered severe economic and social setbacks from crises—including the COVID-19 pandemic. These crises have taken their toll on careers, wage growth, and productivity. Employment in Crisis: The Path to Better Jobs in a Post-COVID-19 Latin America provides new evidence on the effects of crises on the region’s workers and firms and suggests several policy responses that can bolster long-term and inclusive economic growth. This report has three key findings. First, crises lead to persistent employment losses and accelerate structural changes away from the formal sector. This change occurs more through reductions in the creation of formal jobs than through job destruction. Second, some workers recover from crises, while others are permanently scarred by them. Low-skilled workers can suffer up to a decade of lower earnings caused by crises, while high-skilled workers rebound fast, exacerbating the LAC region’s high level of inequality. Formal workers suffer smaller employment and wage losses in localities with higher rates of informality. And the reduced job flows caused by crises decrease welfare, but workers in localities with more job opportunities, whether formal or informal, bounce back better. Third, crises’ cleansing effects can increase efficiency and productivity, but these effects are dampened by the LAC region’s less competitive market structure. Rather than becoming more agile and productive during economic downturns, protected sectors and firms gain market share and crowd out others, trapping valuable resources. This report proposes a three-pronged mix of policies to improve the LAC region’s responses to crises: •Create a more stable macroeconomic environment to smooth the impacts of crises, including automatic stabilizers such as unemployment insurance and short-term compensation programs; •Increase the capacity of social protection and labor programs to respond to crises and coalesce these programs into systems that complement income support with reemployment assistance and reskilling opportunities; and •Tackle structural issues, including the lack of product market competition and the spatial dimension behind poor labor market adjustment—a “good jobs and good firms†? agenda.

Latin America At The Crossroads

Latin America At The Crossroads
Author: Howard J. Wiarda
Publisher: Routledge
Total Pages: 158
Release: 2019-04-02
Genre: Political Science
ISBN: 0429718187

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A provocative and controversial look at Latin America as it stands at a crossroads, this book analyzes the complex economic and social roots of the debt crisis and evaluates the prospects for new development strategies for the 1990s. Dr. Wiarda begins by placing the regional economic crisis in the larger context of technological change, political upheaval, and the international economy. He then explores new choices and realities in inter-American relations and the role international lending agencies can take to assist Latin America in meeting the challenge of the next decade. The author suggests that "smokescreens and mirrors" have obscured the true nature of the crisis and, as a result, have skewed the policy debate.

Latin America

Latin America
Author: Ms.Dora M. Iakova
Publisher: International Monetary Fund
Total Pages: 270
Release: 2014-12-23
Genre: Business & Economics
ISBN: 1498328164

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Over the past fifteen years countries in Latin America made tremendous progress in strengthening their economies and improving living standards. Although output fell temporarily during the global financial crisis, most economies staged a rapid recovery. However, economic activity across the region has been cooling off and the region is facing a more challenging period ahead. This book argues that Latin America can rise to the challenge, and policymakers in the region are already implementing reforms in education, energy, and other sectors. More is needed, and more is possible, in Latin America’s quest to continue to improve living standards.

Latin American Political Economy

Latin American Political Economy
Author: Jonathan Hartlyn
Publisher: Routledge
Total Pages: 402
Release: 2019-03-05
Genre: Political Science
ISBN: 0429718071

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This book considers the historical and contemporary determinants of the financial crisis facing Latin America from a political economy perspective and compares the effects of and responses to the crisis in a number of countries. It discusses the internal policy errors that led to financial blow-ups.

Challenging the State

Challenging the State
Author: Merilee S. Grindle
Publisher: Cambridge University Press
Total Pages: 256
Release: 1996-02-23
Genre: Political Science
ISBN: 9780521559195

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The 1980s and 1990s posed great challenges to governments in Latin America and Africa. Deep economic crises and significantly heightened pressure for political reform severely taxed their capacity to manage economic and political tasks. These crises pointed to an intense need to reform the state and redefine its relationship to the market and civic society. This book examines the paradox of states that have been weakened by crisis just as their capacity to encourage economic development and provide for effective governance most needs to be strengthened. Case studies of Mexico and Kenya allow the author to analyse the opportunities available for political leadership in moments of crisis, and the constraints on action provided by leadership goals and existing political and economic structures. She argues that while leaders and political structures are often part of the problem, they can also be part of the solution in building more efficient, effective, and responsive states.