Latin America Copes with Volatility, the Dark Side of Globalization
Latin American and Caribbean (LAC) region were bumping against capacity constraints with unemployment reaching historically low levels and economic activity hitting bottlenecks and central banks were thus engaged in combating upward price pressures...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/04/17682562/latin-america-copes-volatility-dark-side-globalization http://hdl.handle.net/10986/16496 |
| Summary: | Latin American and Caribbean (LAC)
region were bumping against capacity constraints with
unemployment reaching historically low levels and economic
activity hitting bottlenecks and central banks were thus
engaged in combating upward price pressures through tighter
monetary policies. The focus of attention was, as a result,
shifting towards the longer-term growth and equity agendas
in what appeared to be a more tranquil global environment.
This LAC region continues on a relatively robust growth path
after a remarkable performance in the aftermath of the
global financial crisis. In effect, as discussed in our
April 2011 report "LAC success put to the test,"
the region's recession in 2009 was relatively short
lived and surprisingly mild compared to other middle-income
countries (MICs) and to its own past and its recovery in
2010-2011 strong. This report starts by setting the stage on
the external environment. It provides an overview of recent
economic developments and the prospects for the LAC region
in coming months, including an analysis of the sources of
external risks for the region. |
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