In October of 2008 there were two main views of what the financial crisis would do to emerging countries in Latin America. The optimistic view predicted that they would do well overall and that the crisis would not have a significant impact on them because their economies were decoupled from the rest of the world. The pessimistic view saw these economies as vulnerable to the financial crisis, which meant they would become unstable and perform poorly. Over a year later, the outcome is something in between. This article will explain the current state of the financial crisis in Latin America and the policy responses of various Latin American countries. Brazil, Mexico, and Chile, will be highlighted because they present very interesting cases. These examples are important when discussing lessons and challenges in Latin America. The idea is to focus on what these Latin American countries have done that has allowed them to perform relatively well during the crisis, and discuss what challenges policy makers in the region are facing today and will face in the future.
"Latin America and the Financial Crisis of 2008: Lessons and Challenges,"
Pepperdine Policy Review: Vol. 3
, Article 8.
Available at: http://digitalcommons.pepperdine.edu/ppr/vol3/iss1/8