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...

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...

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,...

One of the most important elements of financial crises is the credit restriction that follows and the immediate consequences it has on investment and employment. In the post-Keynesian vision, an exit from economic crises frequently requires increased demand, specifically through public...