Economic Survey of Latin America and the Caribbean 2009-2010
Hide / Show Abstract

Economic Survey of Latin America and the Caribbean 2009-2010

The Distributive Impact of Public Policies

In 2009, the countries of Latin America and the Caribbean experienced the brunt of the global financial crisis on their levels of activity. However, since the second half of the that year, most countries in the region just begun a vigorous recovery that should strengthen with a regional GDP expansion of approximately 5.2 per cent. The factors behind a more positive performance are both external and internal in nature. Amongst the former can be included the continued dynamism of some key Asian economies, whose sustained demand for products from this region has created important conditions for a recovery in exports, especially in the case of South America.

Click to Access: 
    http://oecd.metastore.ingenta.com/content/e4980ff6-en.pdf
  • PDF
  • http://www.keepeek.com/Digital-Asset-Management/oecd/economic-and-social-development/economic-survey-of-latin-america-and-the-caribbean-2009-2010_e4980ff6-en
  • READ
 
Chapter
 

Mexico You do not have access to this content

English
Click to Access: 
    http://oecd.metastore.ingenta.com/content/b6cbe215-en.pdf
  • PDF
  • http://www.keepeek.com/Digital-Asset-Management/oecd/economic-and-social-development/economic-survey-of-latin-america-and-the-caribbean-2009-2010_b6cbe215-en
  • READ
Author(s):
ECLAC

Hide / Show Abstract

In 2009, the Mexican economy shrank by 6.5% and per capita GDP by 7.5%, owing to the weakening of aggregate demand caused by the global recession, which had an immediate impact on exports, foreign direct investment (FDI) and remittance flows from migrant workers. The recession also led to a drop in employment and the real wage bill, triggering a fall in consumption, which was simultaneously undermined by decreased bank lending. Measures to tackle the epidemic of influenza A (H1N1) also played a part in the economic contraction.