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The International Crisis and Latin America: Growth Effects and Development Strategies
27/09/2011
Author : CASE - Center for Social and Economic Research
by Vittorio Corbo, Klaus Schmidt-Hebbel
 
Latin America has been strongly affected by the international crisis and recession since late 2008 and has raised concerns in developing economies about their macroeconomic policy frameworks and their development strategies. Among the questions raised by the crisis are: which policies can protect them best from world crises and shocks?, what role does domestic demand play in shielding them from crises?, and to which extent should they rely on a strategy of close trade and financial integration into a world economy punctuated by shocks and crises? This paper aims at addressing the questions by first; assessing empirically the sensitivity of growth in the region’s seven major economies during 1990-2009 to large number of structural and cyclical factors, based on high-frequency panel-data estimations. Second, by using the latter results to decompose the amplitude of GDP reductions in both recessions according to the individual and combined contribution of the different growth factors. Third, to derive the main implications of the results for the choice of macroeconomic regimes and development strategies. CASE Network Study and Analyses No. 429 The International Crisis and Latin America: Growth Effects and Development Strategies by Vittorio Corbo and Klaus Schmidt-Hebbel
 
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Thursday, 24 May 2012
Europe's World - AUTUMN 2011 - #19
The Spring 2012 issue of Europe's World is out!

We feel it's fair to say that few if any publications in the field of international relations and policy debate have grown as fast or widened their scope so remarkably as Europe's World.

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