{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

10 lentamente la masa de pobreza se redujo la mayora

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: support. Many of those mechanisms are critical for post‐crisis Latin‐America, from the G20 (where Argentina, Brazil and Mexico participate) to the increases in lending capacity of multilaterals to a trade regime that remains open, fair and clean. Making the most of them is the opportunity of a generation. Conclusion ‐ The Day After Tomorrow, Latin‐America May Be Better So, as thresholds go, 2009 may be remembered as the year in which Latin‐America’s latest growth run abruptly ended. Or as the year in which an unprecedented global crisis shook the region onto a faster development path. Which way it goes will depend on how its policy‐makers respond, whether they tailor their reactions to their reality, see the opportunity behind the crisis, and proactively take on the issues that were holding Latinos back well before subprime became a household term. Clearly, Latin‐ American problems are not solely economic. The institutions that underpin politics are not fully cemented. Violence and the drugs trade that fuels it have their own dynamics. And nobody knows what development policies will work best in the post‐crisis world. But it remains true, and somewhat ironic, that a region that could not quite take off when the world was booming, could now make it on its own terms when the world tumbled. 8 For a comprehensive framework of ideas on the new regulation of finance see De la Torre, A. and A. Ize, 2009, Regulatory Reform: Integrating Paradigms, World Bank Policy Research Working Paper 4842, February. 5 6 AMÉRICA LATINA MÁS ALLÁ DE LA CRISIS—IMPACTOS, POLÍTICAS Y OPORTUNIDADES— SÍNTESIS Marcelo M. Giugale9 Introducción y Resumen Durante los últimos cinco años, buenas políticas y buena suerte pusieron a América Latina en un sendero de prosperidad.10 Lentamente la masa de pobreza se redujo. La mayoría de los países comenzaron a dejar atrás la inflación, la bancarrota, el aislamiento, la exclusión, y la incertidumbre. Aparecíeron los superávit fiscales, los grados de inversión, los tratados de libre comercio, las transferencias directas a los pobres, las instituciones. Había todavía mucho camino por recorrer, pero el progreso era real y tangible. Pero cuando las cosas finalmente parecían estar en el camino correcto, la primera crisis financiera global en casi un siglo llega a la región—y la va golpeará con fuerza. Su economía pasará del crecimiento rápido a la recesión. Durante este periodo indudablemente difícil, el Banco Mundial ha buscado apoyar a sus clientes Latino‐americanos con un paquete de asistencia financiera rápida (triplicó su volumen de préstamos) y un compendio de análisis de políticas públicas para responder a la crisis. Este ensayo sintetiza ese compendio.11 Esta organizado alrededor de tres preguntas centrales: (i) (ii) (iii) ¿Cómo afectará la crisis a la región? Lenta y duramente, pero sin catástrofe. ¿Cómo deberían responder los gobiernos latino‐americanos? Con asiste...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern