Developing countries' anti-cyclical policies in a globalized world

Includes bibliography

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Autor principal:	Ocampo, José Antonio
Otros Autores:	NU. CEPAL
Formato:	Texto
Lenguaje:	English
Publicado:	ECLAC 2014
Materias:	ADMINISTRACION FISCAL BALANZA COMERCIAL CICLOS ECONOMICOS DEUDA PUBLICA ESTABILIZACION ECONOMICA PRODUCTO NACIONAL BRUTO TASAS DE INTERES TIPOS DE CAMBIO SISTEMAS MONETARIOS RECURSOS FINANCIEROS REGULACION ECONOMICA BALANCE OF TRADE BUSINESS CYCLES ECONOMIC STABILIZATION FOREIGN EXCHANGE RATES GROSS NATIONAL PRODUCT INTEREST RATES PUBLIC DEBT TAX ADMINISTRATION MONETARY SYSTEMS FINANCIAL RESOURCES ECONOMIC REGULATION
Acceso en línea:	http://hdl.handle.net/11362/7789
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spelling	oai-11362-77892020-11-19T01:58:04Z Developing countries' anti-cyclical policies in a globalized world Ocampo, José Antonio NU. CEPAL ADMINISTRACION FISCAL BALANZA COMERCIAL CICLOS ECONOMICOS DEUDA PUBLICA ESTABILIZACION ECONOMICA PRODUCTO NACIONAL BRUTO TASAS DE INTERES TIPOS DE CAMBIO SISTEMAS MONETARIOS RECURSOS FINANCIEROS REGULACION ECONOMICA BALANCE OF TRADE BUSINESS CYCLES ECONOMIC STABILIZATION FOREIGN EXCHANGE RATES GROSS NATIONAL PRODUCT INTEREST RATES PUBLIC DEBT TAX ADMINISTRATION MONETARY SYSTEMS FINANCIAL RESOURCES ECONOMIC REGULATION Includes bibliography Versión revisada de este documento publicada con el símbolo LC/L.1443-P, ingresada en Biblioteca (85250) Introduction The volatility and contagion characteristic of international financial markets, which dominated emerging economies during the 1990s, have deep historical roots.1 Indeed, from the mid-1970s to the end of the 1980s, Latin America and many other regions in the developing world experienced a long boom-bust cycle, the most severe of its kind since that of the 1920s and 1930s. The shortening but also the intensity of boom-bust cycles have been distinctive features of the past decade. The latter is reflected, in the words of the Chairman of the Federal Reserve Board, in the fact that the size of the breakdowns and required official finance to counter them is of a different order of magnitude than in the past" (Greenspan, 1998). Viewed from the perspective of developing countries, the essential feature of instability is the succession of periods of intense capital inflows, in which financial risks significantly increase, facilitated and sometimes enhanced by pro-cyclical domestic macroeconomic policies, and the latter phases of adjustment, in which these risks are exposed and the pro-cyclical character of the measures adopted to "restore confidence" amplify the flow (economic activity)and stock (portfolio) effects of adjustment processes. An essential part of the solution to these problems lies in strengthening the institutional framework to prevent and manage financial crises at the global level.2 This paper, however, looks at the role of developing countries'domestic policies in managing externally generated boom-bust cycles. It draws upon extensive recent literature on the subject 3 and upon the experience of Latin America in the 1990s.4 The discussion is divided into seven sections. The first looks at the macroeconomics of boom-bust cycles in the developing world. The following sections look at the exchange rate regime, liability policies, prudential regulation and supervision, and fiscal stabilization. The final section draws some conclusions." 2014-01-02T16:51:58Z 2014-01-02T16:51:58Z 2002-06 Texto Documento Completo 9211213568 http://hdl.handle.net/11362/7789 LC/L.1740-P en Serie Informes y Estudios Especiales 4 application/pdf AMERICA LATINA LATIN AMERICA ECLAC
institution	Cepal
collection	Cepal
language	English
topic	ADMINISTRACION FISCAL BALANZA COMERCIAL CICLOS ECONOMICOS DEUDA PUBLICA ESTABILIZACION ECONOMICA PRODUCTO NACIONAL BRUTO TASAS DE INTERES TIPOS DE CAMBIO SISTEMAS MONETARIOS RECURSOS FINANCIEROS REGULACION ECONOMICA BALANCE OF TRADE BUSINESS CYCLES ECONOMIC STABILIZATION FOREIGN EXCHANGE RATES GROSS NATIONAL PRODUCT INTEREST RATES PUBLIC DEBT TAX ADMINISTRATION MONETARY SYSTEMS FINANCIAL RESOURCES ECONOMIC REGULATION
spellingShingle	ADMINISTRACION FISCAL BALANZA COMERCIAL CICLOS ECONOMICOS DEUDA PUBLICA ESTABILIZACION ECONOMICA PRODUCTO NACIONAL BRUTO TASAS DE INTERES TIPOS DE CAMBIO SISTEMAS MONETARIOS RECURSOS FINANCIEROS REGULACION ECONOMICA BALANCE OF TRADE BUSINESS CYCLES ECONOMIC STABILIZATION FOREIGN EXCHANGE RATES GROSS NATIONAL PRODUCT INTEREST RATES PUBLIC DEBT TAX ADMINISTRATION MONETARY SYSTEMS FINANCIAL RESOURCES ECONOMIC REGULATION Ocampo, José Antonio Developing countries' anti-cyclical policies in a globalized world
description	Includes bibliography
author2	NU. CEPAL
author_facet	NU. CEPAL Ocampo, José Antonio
format	Texto
author	Ocampo, José Antonio
author_sort	Ocampo, José Antonio
title	Developing countries' anti-cyclical policies in a globalized world
title_short	Developing countries' anti-cyclical policies in a globalized world
title_full	Developing countries' anti-cyclical policies in a globalized world
title_fullStr	Developing countries' anti-cyclical policies in a globalized world
title_full_unstemmed	Developing countries' anti-cyclical policies in a globalized world
title_sort	developing countries' anti-cyclical policies in a globalized world
publisher	ECLAC
publishDate	2014
url	http://hdl.handle.net/11362/7789
work_keys_str_mv	AT ocampojoseantonio developingcountriesanticyclicalpoliciesinaglobalizedworld
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Developing countries' anti-cyclical policies in a globalized world

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