Macroeconomic Volatility: The Policy Lessons from Latin America

Author/Editor:

Anoop Singh

Publication Date:

July 1, 2006

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The recent recovery in Latin America has been impressive but also raises the question whether this represents a fundamental break with the region's history of boom-bust cycles. The paper traces how this history of macroeconomic volatility and financial crisis over the past century has adversely impacted on growth and other development indicators, and the role played by policy instability. The paper then concludes that recent policies in the region offer encouragement that these vulnerabilities are being addressed, but notes that an important agenda still remains to be addressed.

Series:

Working Paper No. 2006/166

Subject:

Financial crises Fiscal policy Government asset and liability management Inflation Public debt

English

Publication Date:

July 1, 2006

ISBN/ISSN:

9781451864267/1018-5941

Stock No:

WPIEA2006166

Pages:

31

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