Fiscal Policy in Latin America:Lessons and Legacies of the Global Financial Crisis
Oya Celasun, Francesco Grigoli, Keiko Honjo
Editorial: International Monetary Fund
Sinopsis
Latin America’s bold fiscal policy reaction to the global financial crisis was hailed as a sign that the region had finally overcome its procyclical fiscal past. However, most countries of the region have not yet rebuilt their fiscal space, despite buoyant commodity revenues and relatively strong growth in the aftermath of the crisis.