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Economic Survey of Latin America and the Caribbean 2012

Policies for an Adverse International Economy

image of Economic Survey of Latin America and the Caribbean 2012
The Economic Survey of Latin America and the Caribbean 2013 analyses the policies required to improve the perspectives of sustainable regional growth. It reviews the links between economic growth and investment and employment, as well as the fiscal and monetary policies, industrial, trade and social policies relevant for short and long-term growth. Special attention is given to regional key issues such as its structural heterogeneity, its high levels of inequality and the challenges of environmental sustainability. Additionally, the region’s economic evolution during the first semester of 2013 is analyzed in this survey.

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The policy response of Latin America and the Caribbean to the adverse global economic scenario (2008-2012)

This chapter reviews three major external events that had an impact on the region between 2008 and 2012: (a) the 2008 food and fuel price boom; (b) the global financial crisis of 2008-2009; and (c) mounting international uncertainty from the second half of 2011. It also identifies the main macroeconomic, social and sectoral policies implemented by the countries of Latin America and the Caribbean to deal with the consequences of these events, which, unlike in the past, originated in the economic and financial spheres of developed countries. It would not be venturing too far to assert that this sequence of negative external shocks reached magnitudes surpassed only by the Great Depression of the 1930s.

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