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Resilience in Latin America : lessons from macroeconomic management and financial policies
De Gregorio, Jose - 2013
This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and fiscal expansion, exchange rate flexibility, a strong and well--regulated financial system, high level...
Persistent link: https://www.econbiz.de/10012667421
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Can Emerging Market Central Banks Bail Out Banks? : A Cautionary Tale From Latin America
Jacome H., Luis I. - 2011
This paper investigates whether developing and emerging market countries can implement monetary policies similar to those used by advanced countries during the recent global crisis - injecting significant amounts of money into the financial system without facing major short-run adverse...
Persistent link: https://www.econbiz.de/10014412168
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Sectorial Macroeconomic Interdependencies : Evidence for Latin America, East Asia and Europe
Loayza, Norman - 1999
This paper analyzes common economic patterns across countries and economic sectors in Latin America, East Asia and Europe for the period 1970–94 by means of an error-components model that decomposes real value added growth in each country into common international effects, sector-specific...
Persistent link: https://www.econbiz.de/10014400705
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Capital Inflows and Real Exchange Rate Appreciation in Latin America : The Role of External Factors
Leiderman, Leonardo - 1992
The characteristics of recent capital inflows into Latin America are discussed. It is argued that these inflows are partly explained by conditions outside the region, like recession in the United States and lower international interest rates. This suggests the possibility that a reversal of...
Persistent link: https://www.econbiz.de/10014396382
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International Contagion Effects from the Russian Crisis and the LTCM Near-Collapse
Fry, Renee - 2002
""contagion,"" controlling for common global shocks, country-specific shocks and regional factors. The results show that there … were substantial international contagion effects resulting from both the Russian and LTCM crises. The proportion of … volatility explained by contagion is not necessarily larger in developing than in developed nations …
Persistent link: https://www.econbiz.de/10014399584
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How do business and financial cycles interact?
Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - 2011
Persistent link: https://www.econbiz.de/10009486294
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How Do Business and Financial Cycles Interact?
Terrones, Marco - 2011
This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial...
Persistent link: https://www.econbiz.de/10014400859
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Economic Integration and Financial Stability : A European Perspective
De Nicoló, Gianni - 2006
European financial institutions have not declined during the period 1990-2004 and that bank systemic risk profiles have … converged. At the same time, the sensitivity of bank and insurance systemic risk measures to common real and financial shocks …
Persistent link: https://www.econbiz.de/10014399790
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Did export diversification soften the impact of the global financial crisis?
Costa Neto, Nelson Camanho da; Romeu, Rafael - 2011
Persistent link: https://www.econbiz.de/10009486313
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Building blocks for effective macroprudential policies in Latin America : institutional considerations
Jácome, Luis Ignacio; Nier, Erlend W.; Imam, Patrick - 2012
An increasing number of countries - including in Latin America - are reforming their financial stability frameworks in the aftermath of the financial crisis, in order to establish a stronger macroprudential policy function. This paper analyzes existing arrangements for financial stability in...
Persistent link: https://www.econbiz.de/10009620979