The emerging market crisis and its aftermath in Latin America
Journal of Financial Regulation and Compliance
ISSN: 1358-1988
Article publication date: 1 March 1999
Abstract
Latin America's contagion from the Asian shock was limited because: a) the region had successfully implemented structural reforms in recent years; b) policymakers acted swiftly to make appropriate changes in fiscal and monetary policy; and c) abundant reserves facilitated a relatively smooth adjustment. The Russian shock proved much harder to weather, as it adversely affected risk perception about emerging markets as an asset class resulting in an abrupt halt of capital inflows and a deep recession. Recent developments in international capital markets suggest a more benign environment for growth. This, however, provides no guarantee of a sustainable recovery for all economies in the region.
Citation
Cañonero, G. and Rojas Suárez, L. (1999), "The emerging market crisis and its aftermath in Latin America", Journal of Financial Regulation and Compliance, Vol. 7 No. 3, pp. 219-233. https://doi.org/10.1108/eb025010
Publisher
:MCB UP Ltd
Copyright © 1999, MCB UP Limited