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The IMPACTS of the GLOBAL FINANCIAL CRISIS on LATIN AMERICAN COUNTRIES

Author

Listed:
  • Selçuk BALI
  • Mete GÜLER

    (Giresun Üniversitesi
    University of Illinois at Urbana-Champaign)

Abstract

The global financial crisis is the most important capitalist crisis since World War II. However, the impacts of the global crisis on Latin America have in some respects been less severe than in previous crises. Because Latin American countries have experienced several important crises in the past, the crisis did not have severe impacts on Latin American region/economies. The aim of this article is to analyze the impacts of the global crisis on Latin America. Since the effects of the crisis on Latin American countries are generally heterogeneous, we will only mention the countries have different cases rather than all of them. We will also argue how Latin American countries are affected less severe from the crisis. We conclude that good and powerful macroeconomic frameworks and strong fiscal and monetary policies applied since 1990s played an important role to decline the impact of the crisis on Latin American countries.

Suggested Citation

  • Selçuk BALI & Mete GÜLER, 2016. "The IMPACTS of the GLOBAL FINANCIAL CRISIS on LATIN AMERICAN COUNTRIES," Eurasian Business & Economics Journal, Eurasian Academy Of Sciences, vol. 4(4), pages 1-10, January.
    • Handle: RePEc:eas:buseco:v:4:y:2016:i:4:p:1-10
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    References listed on IDEAS

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    1. Sandra M. Leitner & Robert Stehrer, 2013. "Access to finance and funding composition during the crisis: A firm-level analysis of Latin American countries," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 50(1), pages 1-47, May.
    2. Freund, Caroline, 2009. "The trade response to global downturns : historical evidence," Policy Research Working Paper Series 5015, The World Bank.
    3. José Antonio Ocampo, 2009. "Latin America and the global financial crisis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 703-724, July.
    4. José De Gregorio, 2014. "How Latin America Weathered the Global Financial Crisis," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6789, October.
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    More about this item

    Keywords

    Global financial crisis; Latin American economies; Economic growth; International trade;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G01 - Financial Economics - - General - - - Financial Crises

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