| 研究生: |
顧迪可 Diego Ramirez |
|---|---|
| 論文名稱: |
全球金融危機對拉丁美洲國家經濟表現之影響 The effects of the Global Financial Crisis in Latin American countries’ economic performance |
| 指導教授: |
陳威光
Chen, Wei Kuang |
| 學位類別: |
碩士
Master |
| 系所名稱: |
商學院 - 金融學系 Department of Money and Banking |
| 論文出版年: | 2012 |
| 畢業學年度: | 100 |
| 語文別: | Inglés |
| 論文頁數: | 60 |
| 中文關鍵詞: | 拉丁美洲國家 、全球金融危機 |
| 外文關鍵詞: | Latin America, Global Financial Crisis |
| 相關次數: | 點閱:250 下載:38 |
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The global financial crisis has been catalogued as one of the worst economical recessions since the Great Depression in 1930’s. The history in Latin America has shown that the region has been turbulent in respect of economic crisis. They were three main channels, which are divided in contagion and/or interdepended to Latin America; first the remittances saw a drop, the smallest countries like the Central Americans countries were the most affected by this channel. The second channel was in the export with the freeze in the international trade market. And the third channel was the financial shock with global finances and credit constraint. For the seven biggest economies; Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela; the second and third channel were the ones that most affected them. There is not proof that within the region toxic assets were acquired; this is the main raison that we have take macroeconomics variables to measure the impact of the crisis. Thanks to the propitious economic circumstances in the past years made Latin American countries had a great economic growth, this helped them to grow their international reserves and have a healthier fiscal system. Those two tools were fundamental to fight against the crisis with counter cyclical policies. Also most of the countries have started to diversify they exports to other regions, focusing more in Asia especially the gigantic Republic Peoples of China. Some countries apply this strategy more aggressively than others, and as a result they bounced back quicker than other countries. It has been said, that this kind of economic depressions only happens once every one hundred years. Latin America suffered as the entire world did, but they were better prepare and their strategies worked to reactivate their local economies. Some countries have been economically performing better and have kept their inflation and unemployment rates at the same level as before the crisis started.
Table of Content
1 Introduction 7
2 Literature Review 9
3 The effects of the global financial crisis in Latin American
countries's economic performance 11
3.1 Argentina 11
3.2 Brazil 11
3.3 Chile 12
3.4 Colombia 13
3.5 Mexico 13
3.6 Peru 13
3.7 Venezuela RB 14
4 How the 7 biggest Latin American’s governments reacted to
the crisis 15
4.1 Argentina 15
4.2 Brazil 16
4.3 Chile 18
4.4 Colombia 20
4.5 Mexico 21
4.6 Peru 23
4.7 Venezuela RB 24
5 Effect after the reaction 26
5.1 Argentina 26
5.2 Brazil 26
5.3 Chile 27
5.4 Colombia 28
5.5 Mexico 28
5.6 Peru 29
5.7 Venezuela RB 30
5.8 Summary 31
6 Conclusion 32
7 References 34
8 Graphs and Tables 35
Eduardo Fernández-Arias and Peter J. Montiel (2009, June) - Crisis Response in Latin America: Is the “Rainy Day” at Hand? - Inter-American Development Bank, Research Department Working Paper #686 RG-K1089
Jose Antonio Ocampo (2009, June) Latin America and the global financial crisis - Cambridge Journal of Economics 2009, 33, 703–724
Alejandro Jara, Ramon Moreno and Camilo Tovar (2009, June 8) The global crisis and Latin America: financial impact and policy responses. BIS Quarterly Review
Alicia Bárcena Laura López, Osvaldo Kacef, Diane Frishman (2009, February 27) “La reacción de los gobiernos de América Latina y el Caribe frente a la crisis internacional: una presentación sintética de las medidas de política anunciadas hasta el 20 de febrero de 2009”. United Nations, CEPAL LC/L.3000/Rev.2