The Global Crisis and Latin America: Financial Impact and Policy Responses

16 Pages Posted: 30 Jul 2012

See all articles by Alejandro Jara

Alejandro Jara

Bank for International Settlements (BIS)

Ramon Moreno

Self employed

Camilo E. Tovar

International Monetary Fund

Date Written: June 8, 2009

Abstract

The financial impact of the global crisis on Latin America has in some respects been less severe than in previous crises. This reflects in part the development of domestic bond markets and improved net balance sheet positions of the economies, which for a period have allowed gross capital inflow reversals to be partially offset by reductions in gross capital outflows. In addition, policy responses have helped to ease both external and domestic financial conditions. Nevertheless, considerable risks remain due to the ongoing economic downturn.

JEL Classification: E44, E5, E66, F21, F34, F4, G15, O16

Suggested Citation

Jara, Alejandro and Moreno, Ramon and Tovar, Camilo E., The Global Crisis and Latin America: Financial Impact and Policy Responses (June 8, 2009). BIS Quarterly Review, June 2009, Available at SSRN: https://ssrn.com/abstract=1513216

Alejandro Jara (Contact Author)

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Ramon Moreno

Self employed ( email )

Basel
Switzerland

Camilo E. Tovar

International Monetary Fund ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

HOME PAGE: http://blog-imfdirect.imf.org/bloggers/camilo-e-tovar/

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