The International Crisis and Latin America

Latin America has been strongly affected by the international crisis and recession since late 2008. Compared with previous crises, how Latin America has faced this global crisis, what has been the role of different transmission mechanisms and how the structural conditions of the region have affected its vulnerability to external shocks? This paper aims at addressing these questions by assessing growth in the region’s seven major economies during 1990-2009; in particular, it examines the effects of the financial crisis originated in the USA in 2008-2009