Changing external financing sources and macroeconomic regimes in the region: the uneven impacts of external shocks and response policies
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 2010-2011 , pp 47-60
- Publication Date: December 2011
- DOI: https://doi.org/10.18356/99ce81ea-en
- Language: English
The composition of external financing has changed markedly over the past 30 years for the countries of Latin America and the Caribbean. Some macroeconomic regimes have been overhauled and external shocks are transmitted to the domestic economy in new ways. This chapter offers an overview of the shifts in the region’s main sources of foreign exchange, reflecting patterns in current account components in some cases and increased financial flows in others. It also looks at the main changes in macroeconomic policy regimes. Lastly, after reviewing structural elements that influence the way in which external shocks impact and spread through the domestic economy, it sets out an analytical framework for tackling the policy dilemmas faced by the countries of the region.
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