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Beyond the numbers: How urban households in Central America responded to the recent global crises

Author

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  • Hernandez, Manuel A.
  • Robles, Miguel
  • Torero, Maximo

Abstract

A review of various economic indicators shows that both the recent food crisis and the financial and economic crisis have had significant negative effects on the Central American countries. The first jolt to the region came in 2007 and mid-2008, while the second occurred at the end of 2008 and in 2009. Particularly notable during 2007 and the first half of 2008 was the inflation that hit the food and beverage sector, which consistently outpaced overall inflation in Central America. The rise in prices coincided with the upward trend in international prices for the main agricultural commodities. The impact of the financial and economic crisis was reflected in declining exports, particularly for the maquila industry, reduced tourist inflows, a decrease in remittances from abroad, and a decline in flows of foreign direct investment (FDI) to the region. These factors, in combination, contributed to a contraction of economic activity in Central America in 2009.

Suggested Citation

  • Hernandez, Manuel A. & Robles, Miguel & Torero, Maximo, 2011. "Beyond the numbers: How urban households in Central America responded to the recent global crises," Issue briefs 67, International Food Policy Research Institute (IFPRI).
  • Handle: RePEc:fpr:issbrf:67
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    Cited by:

    1. Kuhanathan Ano Sujithan & Sanvi Avouyi-Dovi & Lyes Koliai, 2014. "On the determinants of food price volatility," Post-Print hal-01511900, HAL.
    2. repec:dau:papers:123456789/12798 is not listed on IDEAS
    3. Soundararajan, Pushparaj & Suresh, Vidya, 2014. "Does a Speculative Trade in Food Commodities Influence Food Price Inflation in India?," MPRA Paper 62521, University Library of Munich, Germany.

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    Keywords

    financial crisis; economic crisis; Food prices;

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