Botta, Alberto ORCID: 0000-0001-9464-8251, Yajima, Giuliano and Porcile, Gabriel (2023) Finance-led premature de-industrialization and the role of external macroprudential policy for post-COVID-19 transformative development: Latin America in a comparative perspective. In: Perez Caldentey, Esteban, (ed.) Financial openness, financial fragility and policies for economic stability: a comparative analysis across regions of the developing world. United Nations Economic Commission for Latin America and the Caribbean . United Nations Publication - ECLAC, Santiago, Chile, pp. 381-413. ISBN LC/TS.2022/139

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Abstract

This book presents a comparative analysis of the policy responses of developing countries in Africa, Asia and Latin America and the Caribbean to the challenges that greater external financial openness and price and exchange-rate flexibility pose to economic stability. Greater external openness has significantly narrowed developing economies’ policy space, while at the same time increasing the potential for financial fragility and instability. These challenges, which have come to the fore since the global financial crisis of 2008–2009, are also manifest in the profound impact of the COVID-19 pandemic and will shape the post-pandemic recovery. The book examines how different countries have used capital controls and macroprudential tools and highlights key lessons learned.

Item Type:	Book Section
Uncontrolled Keywords:	capital flows; structural change; premature de-industrialization; macro prudential policy; Latin America
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
Faculty / School / Research Centre / Research Group:	Faculty of Business Faculty of Business > Department of Accounting & Finance Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC)
Related URLs:	Publisher
Last Modified:	13 Jan 2023 13:00
URI:	http://gala.gre.ac.uk/id/eprint/38421

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