The COVID-19 crisis in Latin America in historical perspective
This essay compares the COVID-19 crisis in Latin America with two long-lasting crises (the Great Depression and the debt crisis) and two more recent and shorter ones (the 1997 Asian crisis and the 2008–2009 North Atlantic crisis). The analysis indicates that almost all external shocks, whether assoc...
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fteclac:oai:repositorio.cepal.org:11362/46927 2023-05-15T17:33:12+02:00 The COVID-19 crisis in Latin America in historical perspective Ocampo, José Antonio AMERICA LATINA LATIN AMERICA 2020-12-31 .pdf application/pdf https://hdl.handle.net/11362/46927 en eng CEPAL Review - Special issue CEPAL Review 132 https://hdl.handle.net/11362/46927 LC/PUB.2021/4-P 4 COVID-19 CRISIS ECONOMICA COOPERACION INTERNACIONAL CRECIMIENTO ECONOMICO POBREZA ASPECTOS ECONOMICOS COMERCIO INTERNACIONAL RELACION DE INTERCAMBIO REMESAS ASISTENCIA FINANCIERA PANDEMIAS ECONOMIC CRISIS INTERNATIONAL COOPERATION ECONOMIC GROWTH POVERTY ECONOMIC ASPECTS INTERNATIONAL TRADE TERMS OF TRADE REMITTANCES FINANCIAL ASSISTANCE PANDEMICS Texto Sección o Parte de un Documento 2020 fteclac 2023-02-05T01:28:57Z This essay compares the COVID-19 crisis in Latin America with two long-lasting crises (the Great Depression and the debt crisis) and two more recent and shorter ones (the 1997 Asian crisis and the 2008–2009 North Atlantic crisis). The analysis indicates that almost all external shocks, whether associated with external financing, the terms of trade, trade volumes or remittances, have been weaker during the current crisis. What has mainly been lacking is international financial cooperation. The severity of the crisis has therefore been due more to domestic factors: the fact that the region was the global epicentre of the pandemic for several months and that the crisis has come on top of five years of poor economic performance and three decades of slow growth. For this reason, the region needs to change its development patterns on top of implementing policies to overcome the crisis. Text North Atlantic Economic Commission for Latin America and the Caribbean (ECLAC): Digital Repository |
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Economic Commission for Latin America and the Caribbean (ECLAC): Digital Repository |
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fteclac |
language |
English |
topic |
COVID-19 CRISIS ECONOMICA COOPERACION INTERNACIONAL CRECIMIENTO ECONOMICO POBREZA ASPECTOS ECONOMICOS COMERCIO INTERNACIONAL RELACION DE INTERCAMBIO REMESAS ASISTENCIA FINANCIERA PANDEMIAS ECONOMIC CRISIS INTERNATIONAL COOPERATION ECONOMIC GROWTH POVERTY ECONOMIC ASPECTS INTERNATIONAL TRADE TERMS OF TRADE REMITTANCES FINANCIAL ASSISTANCE PANDEMICS |
spellingShingle |
COVID-19 CRISIS ECONOMICA COOPERACION INTERNACIONAL CRECIMIENTO ECONOMICO POBREZA ASPECTOS ECONOMICOS COMERCIO INTERNACIONAL RELACION DE INTERCAMBIO REMESAS ASISTENCIA FINANCIERA PANDEMIAS ECONOMIC CRISIS INTERNATIONAL COOPERATION ECONOMIC GROWTH POVERTY ECONOMIC ASPECTS INTERNATIONAL TRADE TERMS OF TRADE REMITTANCES FINANCIAL ASSISTANCE PANDEMICS Ocampo, José Antonio The COVID-19 crisis in Latin America in historical perspective |
topic_facet |
COVID-19 CRISIS ECONOMICA COOPERACION INTERNACIONAL CRECIMIENTO ECONOMICO POBREZA ASPECTOS ECONOMICOS COMERCIO INTERNACIONAL RELACION DE INTERCAMBIO REMESAS ASISTENCIA FINANCIERA PANDEMIAS ECONOMIC CRISIS INTERNATIONAL COOPERATION ECONOMIC GROWTH POVERTY ECONOMIC ASPECTS INTERNATIONAL TRADE TERMS OF TRADE REMITTANCES FINANCIAL ASSISTANCE PANDEMICS |
description |
This essay compares the COVID-19 crisis in Latin America with two long-lasting crises (the Great Depression and the debt crisis) and two more recent and shorter ones (the 1997 Asian crisis and the 2008–2009 North Atlantic crisis). The analysis indicates that almost all external shocks, whether associated with external financing, the terms of trade, trade volumes or remittances, have been weaker during the current crisis. What has mainly been lacking is international financial cooperation. The severity of the crisis has therefore been due more to domestic factors: the fact that the region was the global epicentre of the pandemic for several months and that the crisis has come on top of five years of poor economic performance and three decades of slow growth. For this reason, the region needs to change its development patterns on top of implementing policies to overcome the crisis. |
format |
Text |
author |
Ocampo, José Antonio |
author_facet |
Ocampo, José Antonio |
author_sort |
Ocampo, José Antonio |
title |
The COVID-19 crisis in Latin America in historical perspective |
title_short |
The COVID-19 crisis in Latin America in historical perspective |
title_full |
The COVID-19 crisis in Latin America in historical perspective |
title_fullStr |
The COVID-19 crisis in Latin America in historical perspective |
title_full_unstemmed |
The COVID-19 crisis in Latin America in historical perspective |
title_sort |
covid-19 crisis in latin america in historical perspective |
publishDate |
2020 |
url |
https://hdl.handle.net/11362/46927 |
op_coverage |
AMERICA LATINA LATIN AMERICA |
genre |
North Atlantic |
genre_facet |
North Atlantic |
op_relation |
CEPAL Review - Special issue CEPAL Review 132 https://hdl.handle.net/11362/46927 LC/PUB.2021/4-P 4 |
_version_ |
1766131617204535296 |