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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Main Author:	Hurtado, Carlos
Format:	Brief
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	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
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
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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

The Euro Experience and Lessons for Latin America

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