This article explores how the structural arrangements under the North American Free Trade Agreement (NAFTA) have contributed to the unfolding of the financial crisis and to its international transmission. It reviews the developments over the last two decades in Canada and Mexico based on the...

Arguments for capital account liberalization are based on the presumed positive consequences on the economic growth of liberalizing economies. On the basis of those arguments, most Latin American countries have been engaged in intense domestic and international financial liberalization processes...

The decisions of the Federal Reserve of the United States (Fed) determining interest rates have played a critical role in capital inflows/outflows toward Mexico and Latin America. The causal relationship that exists between the Fed and emerging markets is quite close; a clear example of this is...

Fiscal policies in the countries of Latin America have evolved within very different institutional landscapes resulting from a long history of financial crises. This article analyzes several of the economic and institutional transformations of the three largest economies of Latin America,...