This policy brief reviews the experience of the countries under the Euro currency, focusing on those that have been under significant pressure in recent years- Greece, Ireland, Portugal and Spain, referred to as "emerging" economies. At first they experienced stable growth and converged to the...

Europe faces challenges reminiscent of Latin American financial crises. The failure of recent liquidity support to normalize the situation in Europe suggests the need to refocus the policy debate on fundamentals: structural reform for growth and, where needed, restructuring to resolve banking...

The principal objective of this study is to ascertain the impact of EARs on country papers, the Bank's operations program, and the countries' adoption of RES proposals. To achieve this objective, a comparative qualitative analysis of the encerronas for the various countries was prepared, the...

This publication was undertaken in the context of the International Forum on Latin American Perspectives, jointly organized by the Inter-American Development Bank and the OECD Development Centre. The IDB and the OECD Development Centre created this forum as an annual meeting place of ideas and...

La Revista Integración & Comercio del BID incluye artículos referidos a las distintas manifestaciones del proceso de integración en América Latina y el Caribe, a la integración hemisférica y, también, a los procesos con igual orientación que se llevan a cabo en otras partes del mundo. En...

The importance of having in place a financial regulatory framework that includes macro-prudential regulations was fully recognized during the recent global financial crisis. A central lesson from that episode was that relying on regulations that solely assessed the risks that financial...