This paper discusses the ways in which macroeconomic developments can put stress on banks, and in extreme cases lead to banking crises. These macroeconomic causes of bank vulnerability and crisis have important implications for regulatory regimes, and for macroeconomic policy itself. Much of the...

Latin America's enormous endowment of natural resources impacts many countries of the region. Economic liberalization in several countries was followed by rapid growth of foreign investment and exports of natural resource-intensive products. Growth of labor-intensive manufacturing industries was...

Latin American experts demonstrate how market-friendly measures in key policy areas can promote greater equity and efficiency. By identifying win-win strategies, the authors challenge the conventional wisdom that there is always a tradeoff between these two objectives. This volume shows how...