This book answers the burning question: what has contributed to Latin America’s success in the wake of the 2008/09 global financial crisis? The author asserts, “Latin America was resilient because of good macroeconomic policies, strong financial systems and a bit of luck…” (p.13). The focus is on the seven largest economies in Latin America (LA-7), which account for more that 90 percent of the region’s GDP, namely Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Venezuela. In particular, the author’s intimate knowledge of the Chilean economy, having served as Governor of the Central Bank of Chile, is clearly reflected in the discussion of the country-specific experiences.
Book Review by Shamika Walrond-How Latin America Weathered the Global Financial Crisis, by Jose De Gregorio, Peterson Institute for International Economics, Washington DC, 2014.pdf