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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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/04/17682562/latin-america-copes-volatility-dark-side-globalization http://hdl.handle.net/10986/16496 |
| id |
okr-10986-16496 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING AGENCY PROBLEM AGENCY PROBLEMS ALLOCATION OF CREDIT ARBITRAGE ASSET BASE ASSET CLASS ASSET HOLDINGS ASSET MANAGEMENT ASSET MANAGER ASSET MANAGERS ASSET PRICE ASSET PRICES ASYMMETRIC INFORMATION AUCTIONS BALANCE OF PAYMENTS BALANCE SHEETS BANK CREDIT BANK INTEREST RATES BANKING SYSTEMS BASIS POINTS BOND FUND BOND FUNDS BONDS BORROWING COSTS BUSINESS CYCLES CAPACITY CONSTRAINTS CAPITAL FLOW CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKETS CAPITAL MOVEMENTS CAPITAL REQUIREMENTS CDS CENTRAL BANK CENTRAL BANKS COLLATERAL COMMODITY PRICES CONSUMER GOODS CREDIT CONSTRAINTS CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT MARKETS CREDIT RATINGS CURRENCY CURRENCY COMPOSITION CURRENCY MISMATCHES CURRENT ACCOUNT DEFICITS DEBT DEFAULT DEFAULT RISK DEPOSIT DEPOSIT INSURANCE DERIVATIVES DEVALUATION DIRECT INVESTMENT DIVERSIFIED PORTFOLIO DOMESTIC FINANCIAL MARKETS DOMESTIC MARKETS ECONOMIC DEVELOPMENTS ECONOMIC POLICIES EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET BOND EMERGING MARKET EQUITY EMERGING MARKETS ENABLING ENVIRONMENTS EQUITY FUNDS EQUITY MARKET EQUITY MARKETS EQUITY RETURNS EXCHANGE RATE EXCHANGE RATES EXPENDITURES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL STRUCTURE FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL CAPACITY FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FIXED INVESTMENT FLEXIBLE EXCHANGE RATE FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DEBT FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN INVESTMENTS FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN MARKETS FUND MANAGERS GLOBAL BOND GLOBAL ECONOMY GLOBAL MARKETS GLOBALIZATION GOVERNMENT BOND HEDGE FUNDS HOLDINGS ILLIQUID MARKETS IMPLIED VOLATILITY INFLATION INFRASTRUCTURE INVESTMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE COMPANIES INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL INTEGRATION INTERNATIONAL FINANCIAL MARKET INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL FINANCIAL SYSTEM INTERNATIONAL INVESTORS INTERNATIONAL MARKETS INTERNATIONAL PORTFOLIO INTERNATIONAL SWAPS INVESTING INVESTMENT BEHAVIOR INVESTMENT DECISIONS INVESTMENT FLOWS INVESTMENT PATTERNS INVESTMENT RISKS ISSUANCE LENDER LENDERS LEVY LIABILITY LIQUID ASSETS LIQUID MARKETS LIQUIDATION LIQUIDITY LIQUIDITY IN BOND MARKETS LOCAL CURRENCY LOCAL FINANCIAL MARKET LOCAL MARKETS LOCAL STOCK MARKETS LONG TERM CAPITAL LONG-TERM INVESTMENTS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MARK-TO-MARKET MARK-TO-MARKET ACCOUNTING MARKET CONDITIONS MARKET DISCIPLINE MARKET FAILURES MARKET LIQUIDITY MARKET PARTICIPANTS MATURITIES MATURITY MATURITY TRANSFORMATION MONETARY POLICIES MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY MARKETS MORAL HAZARD MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUND INVESTMENT MUTUAL FUNDS OIL PRICES OPEN ECONOMIES PENSION PENSION FUNDS POLICY RESPONSE POLICY RESPONSES PORTFOLIO PORTFOLIO ALLOCATION PORTFOLIO ALLOCATIONS PORTFOLIO CAPITAL PORTFOLIO FLOWS PORTFOLIO INFLOWS PORTFOLIO INVESTMENTS PORTFOLIOS PRICE DISCOVERY PRODUCTIVE INVESTMENTS PUBLIC DEBT PUBLIC DEBTS PUBLIC FINANCES PUBLIC INVESTMENTS REGULATORY SYSTEM RESERVE RESERVES RESIDENTIAL MORTGAGES RETURNS RETURNS ON EQUITIES RISK AVERSION RISK SHARING SAFETY NET SECURITIES SECURITIES MARKETS SOLVENCY SOVEREIGN DEBT SOVEREIGN DEBT PROBLEMS SOVEREIGN RATING SOVEREIGN RATINGS STOCK MARKETS TAX TOTAL DEBT TRADING TRANSPARENCY UNDERWRITERS WEALTH EFFECT WORLD FINANCIAL MARKETS |
| spellingShingle |
ACCOUNTING AGENCY PROBLEM AGENCY PROBLEMS ALLOCATION OF CREDIT ARBITRAGE ASSET BASE ASSET CLASS ASSET HOLDINGS ASSET MANAGEMENT ASSET MANAGER ASSET MANAGERS ASSET PRICE ASSET PRICES ASYMMETRIC INFORMATION AUCTIONS BALANCE OF PAYMENTS BALANCE SHEETS BANK CREDIT BANK INTEREST RATES BANKING SYSTEMS BASIS POINTS BOND FUND BOND FUNDS BONDS BORROWING COSTS BUSINESS CYCLES CAPACITY CONSTRAINTS CAPITAL FLOW CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKETS CAPITAL MOVEMENTS CAPITAL REQUIREMENTS CDS CENTRAL BANK CENTRAL BANKS COLLATERAL COMMODITY PRICES CONSUMER GOODS CREDIT CONSTRAINTS CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT MARKETS CREDIT RATINGS CURRENCY CURRENCY COMPOSITION CURRENCY MISMATCHES CURRENT ACCOUNT DEFICITS DEBT DEFAULT DEFAULT RISK DEPOSIT DEPOSIT INSURANCE DERIVATIVES DEVALUATION DIRECT INVESTMENT DIVERSIFIED PORTFOLIO DOMESTIC FINANCIAL MARKETS DOMESTIC MARKETS ECONOMIC DEVELOPMENTS ECONOMIC POLICIES EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET BOND EMERGING MARKET EQUITY EMERGING MARKETS ENABLING ENVIRONMENTS EQUITY FUNDS EQUITY MARKET EQUITY MARKETS EQUITY RETURNS EXCHANGE RATE EXCHANGE RATES EXPENDITURES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL STRUCTURE FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL CAPACITY FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FIXED INVESTMENT FLEXIBLE EXCHANGE RATE FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DEBT FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN INVESTMENTS FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN MARKETS FUND MANAGERS GLOBAL BOND GLOBAL ECONOMY GLOBAL MARKETS GLOBALIZATION GOVERNMENT BOND HEDGE FUNDS HOLDINGS ILLIQUID MARKETS IMPLIED VOLATILITY INFLATION INFRASTRUCTURE INVESTMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE COMPANIES INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL INTEGRATION INTERNATIONAL FINANCIAL MARKET INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL FINANCIAL SYSTEM INTERNATIONAL INVESTORS INTERNATIONAL MARKETS INTERNATIONAL PORTFOLIO INTERNATIONAL SWAPS INVESTING INVESTMENT BEHAVIOR INVESTMENT DECISIONS INVESTMENT FLOWS INVESTMENT PATTERNS INVESTMENT RISKS ISSUANCE LENDER LENDERS LEVY LIABILITY LIQUID ASSETS LIQUID MARKETS LIQUIDATION LIQUIDITY LIQUIDITY IN BOND MARKETS LOCAL CURRENCY LOCAL FINANCIAL MARKET LOCAL MARKETS LOCAL STOCK MARKETS LONG TERM CAPITAL LONG-TERM INVESTMENTS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MARK-TO-MARKET MARK-TO-MARKET ACCOUNTING MARKET CONDITIONS MARKET DISCIPLINE MARKET FAILURES MARKET LIQUIDITY MARKET PARTICIPANTS MATURITIES MATURITY MATURITY TRANSFORMATION MONETARY POLICIES MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY MARKETS MORAL HAZARD MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUND INVESTMENT MUTUAL FUNDS OIL PRICES OPEN ECONOMIES PENSION PENSION FUNDS POLICY RESPONSE POLICY RESPONSES PORTFOLIO PORTFOLIO ALLOCATION PORTFOLIO ALLOCATIONS PORTFOLIO CAPITAL PORTFOLIO FLOWS PORTFOLIO INFLOWS PORTFOLIO INVESTMENTS PORTFOLIOS PRICE DISCOVERY PRODUCTIVE INVESTMENTS PUBLIC DEBT PUBLIC DEBTS PUBLIC FINANCES PUBLIC INVESTMENTS REGULATORY SYSTEM RESERVE RESERVES RESIDENTIAL MORTGAGES RETURNS RETURNS ON EQUITIES RISK AVERSION RISK SHARING SAFETY NET SECURITIES SECURITIES MARKETS SOLVENCY SOVEREIGN DEBT SOVEREIGN DEBT PROBLEMS SOVEREIGN RATING SOVEREIGN RATINGS STOCK MARKETS TAX TOTAL DEBT TRADING TRANSPARENCY UNDERWRITERS WEALTH EFFECT WORLD FINANCIAL MARKETS World Bank Latin America Copes with Volatility, the Dark Side of Globalization |
| geographic_facet |
Latin America & Caribbean |
| description |
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. |
| format |
Publications & Research :: Working Paper |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Latin America Copes with Volatility, the Dark Side of Globalization |
| title_short |
Latin America Copes with Volatility, the Dark Side of Globalization |
| title_full |
Latin America Copes with Volatility, the Dark Side of Globalization |
| title_fullStr |
Latin America Copes with Volatility, the Dark Side of Globalization |
| title_full_unstemmed |
Latin America Copes with Volatility, the Dark Side of Globalization |
| title_sort |
latin america copes with volatility, the dark side of globalization |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2013/04/17682562/latin-america-copes-volatility-dark-side-globalization http://hdl.handle.net/10986/16496 |
| _version_ |
1764434156611174400 |
| spelling |
okr-10986-164962021-04-23T14:03:31Z Latin America Copes with Volatility, the Dark Side of Globalization World Bank ACCOUNTING AGENCY PROBLEM AGENCY PROBLEMS ALLOCATION OF CREDIT ARBITRAGE ASSET BASE ASSET CLASS ASSET HOLDINGS ASSET MANAGEMENT ASSET MANAGER ASSET MANAGERS ASSET PRICE ASSET PRICES ASYMMETRIC INFORMATION AUCTIONS BALANCE OF PAYMENTS BALANCE SHEETS BANK CREDIT BANK INTEREST RATES BANKING SYSTEMS BASIS POINTS BOND FUND BOND FUNDS BONDS BORROWING COSTS BUSINESS CYCLES CAPACITY CONSTRAINTS CAPITAL FLOW CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKETS CAPITAL MOVEMENTS CAPITAL REQUIREMENTS CDS CENTRAL BANK CENTRAL BANKS COLLATERAL COMMODITY PRICES CONSUMER GOODS CREDIT CONSTRAINTS CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT MARKETS CREDIT RATINGS CURRENCY CURRENCY COMPOSITION CURRENCY MISMATCHES CURRENT ACCOUNT DEFICITS DEBT DEFAULT DEFAULT RISK DEPOSIT DEPOSIT INSURANCE DERIVATIVES DEVALUATION DIRECT INVESTMENT DIVERSIFIED PORTFOLIO DOMESTIC FINANCIAL MARKETS DOMESTIC MARKETS ECONOMIC DEVELOPMENTS ECONOMIC POLICIES EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET BOND EMERGING MARKET EQUITY EMERGING MARKETS ENABLING ENVIRONMENTS EQUITY FUNDS EQUITY MARKET EQUITY MARKETS EQUITY RETURNS EXCHANGE RATE EXCHANGE RATES EXPENDITURES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL STRUCTURE FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL CAPACITY FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FIXED INVESTMENT FLEXIBLE EXCHANGE RATE FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DEBT FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN INVESTMENTS FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN MARKETS FUND MANAGERS GLOBAL BOND GLOBAL ECONOMY GLOBAL MARKETS GLOBALIZATION GOVERNMENT BOND HEDGE FUNDS HOLDINGS ILLIQUID MARKETS IMPLIED VOLATILITY INFLATION INFRASTRUCTURE INVESTMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE COMPANIES INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL INTEGRATION INTERNATIONAL FINANCIAL MARKET INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL FINANCIAL SYSTEM INTERNATIONAL INVESTORS INTERNATIONAL MARKETS INTERNATIONAL PORTFOLIO INTERNATIONAL SWAPS INVESTING INVESTMENT BEHAVIOR INVESTMENT DECISIONS INVESTMENT FLOWS INVESTMENT PATTERNS INVESTMENT RISKS ISSUANCE LENDER LENDERS LEVY LIABILITY LIQUID ASSETS LIQUID MARKETS LIQUIDATION LIQUIDITY LIQUIDITY IN BOND MARKETS LOCAL CURRENCY LOCAL FINANCIAL MARKET LOCAL MARKETS LOCAL STOCK MARKETS LONG TERM CAPITAL LONG-TERM INVESTMENTS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MARK-TO-MARKET MARK-TO-MARKET ACCOUNTING MARKET CONDITIONS MARKET DISCIPLINE MARKET FAILURES MARKET LIQUIDITY MARKET PARTICIPANTS MATURITIES MATURITY MATURITY TRANSFORMATION MONETARY POLICIES MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY MARKETS MORAL HAZARD MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUND INVESTMENT MUTUAL FUNDS OIL PRICES OPEN ECONOMIES PENSION PENSION FUNDS POLICY RESPONSE POLICY RESPONSES PORTFOLIO PORTFOLIO ALLOCATION PORTFOLIO ALLOCATIONS PORTFOLIO CAPITAL PORTFOLIO FLOWS PORTFOLIO INFLOWS PORTFOLIO INVESTMENTS PORTFOLIOS PRICE DISCOVERY PRODUCTIVE INVESTMENTS PUBLIC DEBT PUBLIC DEBTS PUBLIC FINANCES PUBLIC INVESTMENTS REGULATORY SYSTEM RESERVE RESERVES RESIDENTIAL MORTGAGES RETURNS RETURNS ON EQUITIES RISK AVERSION RISK SHARING SAFETY NET SECURITIES SECURITIES MARKETS SOLVENCY SOVEREIGN DEBT SOVEREIGN DEBT PROBLEMS SOVEREIGN RATING SOVEREIGN RATINGS STOCK MARKETS TAX TOTAL DEBT TRADING TRANSPARENCY UNDERWRITERS WEALTH EFFECT WORLD FINANCIAL MARKETS 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. 2014-01-03T22:37:53Z 2014-01-03T22:37:53Z 2012-04 http://documents.worldbank.org/curated/en/2013/04/17682562/latin-america-copes-volatility-dark-side-globalization http://hdl.handle.net/10986/16496 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Washington, DC Publications & Research :: Working Paper Publications & Research Latin America & Caribbean |