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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ftrepec:oai:RePEc:ecr:col070:46927 2024-04-14T08:15:50+00:00 The COVID-19 crisis in Latin America in historical perspective Ocampo, José Antonio https://repositorio.cepal.org/handle/11362/46927 unknown https://repositorio.cepal.org/handle/11362/46927 article ftrepec 2024-03-19T10:41:13Z 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. COVID-19, CRISIS ECONOMICA, COOPERACION INTERNACIONAL, CRECIMIENTO ECONOMICO, POBREZA, ASPECTOS ECONOMICOS, COMERCIO INTERNACIONAL, RELACION DE INTERCAMBIO, REMESAS, ASISTENCIA FINANCIERA, COVID-19, ECONOMIC CRISIS, INTERNATIONAL COOPERATION, ECONOMIC GROWTH, POVERTY, ECONOMIC ASPECTS, INTERNATIONAL TRADE, TERMS OF TRADE, REMITTANCES, FINANCIAL ASSISTANCE Article in Journal/Newspaper North Atlantic RePEc (Research Papers in Economics) |
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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. COVID-19, CRISIS ECONOMICA, COOPERACION INTERNACIONAL, CRECIMIENTO ECONOMICO, POBREZA, ASPECTOS ECONOMICOS, COMERCIO INTERNACIONAL, RELACION DE INTERCAMBIO, REMESAS, ASISTENCIA FINANCIERA, COVID-19, ECONOMIC CRISIS, INTERNATIONAL COOPERATION, ECONOMIC GROWTH, POVERTY, ECONOMIC ASPECTS, INTERNATIONAL TRADE, TERMS OF TRADE, REMITTANCES, FINANCIAL ASSISTANCE |
format |
Article in Journal/Newspaper |
author |
Ocampo, José Antonio |
spellingShingle |
Ocampo, José Antonio The COVID-19 crisis in Latin America in historical perspective |
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 |
url |
https://repositorio.cepal.org/handle/11362/46927 |
genre |
North Atlantic |
genre_facet |
North Atlantic |
op_relation |
https://repositorio.cepal.org/handle/11362/46927 |
_version_ |
1796314303252398080 |