The Euro Experience and Lessons for Latin America

It is natural to think, and economic theory predicts, that integration in an economic zone like Europe fosters growth and development, particularly when integration refers to trade opening among countries. It is expected that openness (to trade) pr...

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Bibliographic Details
Main Author: Hurtado, Carlos
Format: Brief
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
GDP
TAX
Online Access:http://documents.worldbank.org/curated/en/2012/10/16818700/euro-experience-lessons-latin-america
http://hdl.handle.net/10986/17077
id okr-10986-17077
recordtype oai_dc
spelling okr-10986-170772021-04-23T14:03:33Z The Euro Experience and Lessons for Latin America Hurtado, Carlos ACCOUNT DEFICITS AGGREGATE EXPENDITURE AGGREGATE EXPENDITURES ASSETS BALANCE SHEETS BANKING UNION BANKRUPTCY BANKRUPTCY LAWS BOND BOND YIELDS BONDS BUDGET AUTHORITY CAPITAL FLOWS CAPITAL INFLOWS CAPITAL LOSSES CENTRAL BANK COMMODITY COMMON CURRENCY COMPETITIVENESS COST REDUCTIONS CREDIBILITY CREDIT MARKETS CROSS-BORDER TRANSACTIONS CURRENCY ZONE CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEBT OF COUNTRIES DEBT OVERHANGS DEBTS DECISION MAKING DEVELOPMENT BANK DOMESTIC CURRENCY DUTCH DISEASE ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC POLICY ECONOMIC THEORY EMERGING ECONOMIES EURO ZONE EXPENDITURE INCREASE EXPENDITURES EXPORTS FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL SECTOR FISCAL ACCOUNTS FISCAL ADJUSTMENT FISCAL BALANCE FISCAL DEFICITS FISCAL POLICIES FISCAL SUSTAINABILITY FIXED EXCHANGE RATE GDP GDP PER CAPITA GROSS DOMESTIC PRODUCT GROSS NATIONAL PRODUCT ILLIQUIDITY INCOME INDEBTEDNESS INDIVIDUAL CURRENCY INFLATION INTEREST RATES INTERNATIONAL ECONOMICS INVESTMENT EXPENDITURE JUDICIAL SYSTEMS LENDER LENDER OF LAST RESORT LIQUIDITY LIQUIDITY PROBLEMS LOSS OF COMPETITIVENESS MONETARY UNION NET PUBLIC DEBT NOMINAL DEVALUATION PENSION PENSION REFORM PENSIONS PER CAPITA INCOME POVERTY REDUCTION PRIVATE DEBT PROPERTY RIGHTS PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC FINANCES PURCHASING POWER PURCHASING POWER PARITY QUALITY OF EDUCATION REAL DEPRECIATION REAL ESTATE REAL EXCHANGE RATE REAL EXCHANGE RATE APPRECIATION REAL GDP REAL INCOME RECESSION RETURN SLOW GROWTH SMALL ECONOMIES SOCIAL SECURITY SOCIAL WELFARE SOVEREIGN DEBT SOVEREIGN RISK STRONG CAPITAL INFLOWS STRUCTURAL DEFICIT STRUCTURAL PROBLEMS SUPERVISION MECHANISMS SURPLUSES TAX TAX REGIMES TERMS OF CAPITAL TRADABLE GOODS TRADE INTEGRATION TREASURY UNCERTAINTY UNEMPLOYMENT WAGES WORLD ECONOMY It is natural to think, and economic theory predicts, that integration in an economic zone like Europe fosters growth and development, particularly when integration refers to trade opening among countries. It is expected that openness (to trade) promotes growth and being closed (to trade) deters it. Trade theory also concludes that (trade) integration is beneficial to all countries, large and small, and that small economies are likely to benefit relatively more from integration. This note reviews the development of the European Union's euro zone and its impacts on growth and finds lessons that can be useful for Latin America. 2014-02-18T21:37:20Z 2014-02-18T21:37:20Z 2012-10 http://documents.worldbank.org/curated/en/2012/10/16818700/euro-experience-lessons-latin-america http://hdl.handle.net/10986/17077 English en_US Economic premise;no. 92 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Brief Publications & Research Latin America & Caribbean
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 ACCOUNT DEFICITS
AGGREGATE EXPENDITURE
AGGREGATE EXPENDITURES
ASSETS
BALANCE SHEETS
BANKING UNION
BANKRUPTCY
BANKRUPTCY LAWS
BOND
BOND YIELDS
BONDS
BUDGET AUTHORITY
CAPITAL FLOWS
CAPITAL INFLOWS
CAPITAL LOSSES
CENTRAL BANK
COMMODITY
COMMON CURRENCY
COMPETITIVENESS
COST REDUCTIONS
CREDIBILITY
CREDIT MARKETS
CROSS-BORDER TRANSACTIONS
CURRENCY ZONE
CURRENT ACCOUNT
CURRENT ACCOUNT BALANCE
CURRENT ACCOUNT DEFICITS
DEBT OF COUNTRIES
DEBT OVERHANGS
DEBTS
DECISION MAKING
DEVELOPMENT BANK
DOMESTIC CURRENCY
DUTCH DISEASE
ECONOMIC DOWNTURN
ECONOMIC GROWTH
ECONOMIC OUTLOOK
ECONOMIC POLICY
ECONOMIC THEORY
EMERGING ECONOMIES
EURO ZONE
EXPENDITURE INCREASE
EXPENDITURES
EXPORTS
FINANCIAL CRISIS
FINANCIAL MARKETS
FINANCIAL SECTOR
FISCAL ACCOUNTS
FISCAL ADJUSTMENT
FISCAL BALANCE
FISCAL DEFICITS
FISCAL POLICIES
FISCAL SUSTAINABILITY
FIXED EXCHANGE RATE
GDP
GDP PER CAPITA
GROSS DOMESTIC PRODUCT
GROSS NATIONAL PRODUCT
ILLIQUIDITY
INCOME
INDEBTEDNESS
INDIVIDUAL CURRENCY
INFLATION
INTEREST RATES
INTERNATIONAL ECONOMICS
INVESTMENT EXPENDITURE
JUDICIAL SYSTEMS
LENDER
LENDER OF LAST RESORT
LIQUIDITY
LIQUIDITY PROBLEMS
LOSS OF COMPETITIVENESS
MONETARY UNION
NET PUBLIC DEBT
NOMINAL DEVALUATION
PENSION
PENSION REFORM
PENSIONS
PER CAPITA INCOME
POVERTY REDUCTION
PRIVATE DEBT
PROPERTY RIGHTS
PUBLIC DEBT
PUBLIC EXPENDITURE
PUBLIC FINANCES
PURCHASING POWER
PURCHASING POWER PARITY
QUALITY OF EDUCATION
REAL DEPRECIATION
REAL ESTATE
REAL EXCHANGE RATE
REAL EXCHANGE RATE APPRECIATION
REAL GDP
REAL INCOME
RECESSION
RETURN
SLOW GROWTH
SMALL ECONOMIES
SOCIAL SECURITY
SOCIAL WELFARE
SOVEREIGN DEBT
SOVEREIGN RISK
STRONG CAPITAL INFLOWS
STRUCTURAL DEFICIT
STRUCTURAL PROBLEMS
SUPERVISION MECHANISMS
SURPLUSES
TAX
TAX REGIMES
TERMS OF CAPITAL
TRADABLE GOODS
TRADE INTEGRATION
TREASURY
UNCERTAINTY
UNEMPLOYMENT
WAGES
WORLD ECONOMY
spellingShingle ACCOUNT DEFICITS
AGGREGATE EXPENDITURE
AGGREGATE EXPENDITURES
ASSETS
BALANCE SHEETS
BANKING UNION
BANKRUPTCY
BANKRUPTCY LAWS
BOND
BOND YIELDS
BONDS
BUDGET AUTHORITY
CAPITAL FLOWS
CAPITAL INFLOWS
CAPITAL LOSSES
CENTRAL BANK
COMMODITY
COMMON CURRENCY
COMPETITIVENESS
COST REDUCTIONS
CREDIBILITY
CREDIT MARKETS
CROSS-BORDER TRANSACTIONS
CURRENCY ZONE
CURRENT ACCOUNT
CURRENT ACCOUNT BALANCE
CURRENT ACCOUNT DEFICITS
DEBT OF COUNTRIES
DEBT OVERHANGS
DEBTS
DECISION MAKING
DEVELOPMENT BANK
DOMESTIC CURRENCY
DUTCH DISEASE
ECONOMIC DOWNTURN
ECONOMIC GROWTH
ECONOMIC OUTLOOK
ECONOMIC POLICY
ECONOMIC THEORY
EMERGING ECONOMIES
EURO ZONE
EXPENDITURE INCREASE
EXPENDITURES
EXPORTS
FINANCIAL CRISIS
FINANCIAL MARKETS
FINANCIAL SECTOR
FISCAL ACCOUNTS
FISCAL ADJUSTMENT
FISCAL BALANCE
FISCAL DEFICITS
FISCAL POLICIES
FISCAL SUSTAINABILITY
FIXED EXCHANGE RATE
GDP
GDP PER CAPITA
GROSS DOMESTIC PRODUCT
GROSS NATIONAL PRODUCT
ILLIQUIDITY
INCOME
INDEBTEDNESS
INDIVIDUAL CURRENCY
INFLATION
INTEREST RATES
INTERNATIONAL ECONOMICS
INVESTMENT EXPENDITURE
JUDICIAL SYSTEMS
LENDER
LENDER OF LAST RESORT
LIQUIDITY
LIQUIDITY PROBLEMS
LOSS OF COMPETITIVENESS
MONETARY UNION
NET PUBLIC DEBT
NOMINAL DEVALUATION
PENSION
PENSION REFORM
PENSIONS
PER CAPITA INCOME
POVERTY REDUCTION
PRIVATE DEBT
PROPERTY RIGHTS
PUBLIC DEBT
PUBLIC EXPENDITURE
PUBLIC FINANCES
PURCHASING POWER
PURCHASING POWER PARITY
QUALITY OF EDUCATION
REAL DEPRECIATION
REAL ESTATE
REAL EXCHANGE RATE
REAL EXCHANGE RATE APPRECIATION
REAL GDP
REAL INCOME
RECESSION
RETURN
SLOW GROWTH
SMALL ECONOMIES
SOCIAL SECURITY
SOCIAL WELFARE
SOVEREIGN DEBT
SOVEREIGN RISK
STRONG CAPITAL INFLOWS
STRUCTURAL DEFICIT
STRUCTURAL PROBLEMS
SUPERVISION MECHANISMS
SURPLUSES
TAX
TAX REGIMES
TERMS OF CAPITAL
TRADABLE GOODS
TRADE INTEGRATION
TREASURY
UNCERTAINTY
UNEMPLOYMENT
WAGES
WORLD ECONOMY
Hurtado, Carlos
The Euro Experience and Lessons for Latin America
geographic_facet Latin America & Caribbean
relation Economic premise;no. 92
description It is natural to think, and economic theory predicts, that integration in an economic zone like Europe fosters growth and development, particularly when integration refers to trade opening among countries. It is expected that openness (to trade) promotes growth and being closed (to trade) deters it. Trade theory also concludes that (trade) integration is beneficial to all countries, large and small, and that small economies are likely to benefit relatively more from integration. This note reviews the development of the European Union's euro zone and its impacts on growth and finds lessons that can be useful for Latin America.
format Publications & Research :: Brief
author Hurtado, Carlos
author_facet Hurtado, Carlos
author_sort Hurtado, Carlos
title The Euro Experience and Lessons for Latin America
title_short The Euro Experience and Lessons for Latin America
title_full The Euro Experience and Lessons for Latin America
title_fullStr The Euro Experience and Lessons for Latin America
title_full_unstemmed The Euro Experience and Lessons for Latin America
title_sort euro experience and lessons for latin america
publisher World Bank, Washington, DC
publishDate 2014
url http://documents.worldbank.org/curated/en/2012/10/16818700/euro-experience-lessons-latin-america
http://hdl.handle.net/10986/17077
_version_ 1764435113621323776