This paper assesses the vulnerability of Latin American and Caribbean (LAC) economies to external crises. It shows that while the average LAC economy has made significant strides to reduce vulnerability to crises to its historical minimum, there is still considerable room for improvement,...

Intro -- CONTENTS -- Title -- Acknowledgments -- Summary -- 1. Evidence of Financial Contagion and Performance of Capital Flows across the Region -- 2. Additional Issues by Countries -- Appendix -- FIGURES -- TABLES.