Title Regional economic outlook : western hemisphere : heating up in the South, cooler in the North. Oct. 10

Published Washington, D.C. : International Monetary Fund, 2010

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Description 1 online resource (xi, 91 pages) : color illustrations, color maps Series World economic and financial surveys, 0258-7440 Regional economic outlook : western hemisphere : heating up in the South, cooler in the North World economic and financial surveys ; Oct. 10. Contents Cover Page; Copyright Page; Boxes; Preface; Executive Summary; 1. Global, U.S., and Canadian Outlook; The Global Backdrop-A Recovery Still Led by Emerging Economies; United States-Recovery Is Still Policy Driven; 1.1. Labor Market Adjustment in the United States; 1.2. The Financing of U.S. Federal Budget Deficits-and Its Global Implications; Canada-Strong Recovery with Elevated Risks; 1.3. Highlights of the 2010 U.S. Financial Regulatory Reform; Implications for the Latin American and Caribbean Region; 2. Latin America and the Caribbean: Recent Developments and Outlook Growth to Normalize from Recent HighsWide Divergence in the Regional Outlook; 2.1. Latin America's Resilience to the European Financial Turmoil of 2010; 2.2. The Outlook for Commodity Prices and the Role of China; Diverse Policy Challenges; South America-Ensuring a Soft Landing; Withdrawing Policy Stimulus Amid Ample Global Liquidity; 2.3. Reserve Accumulation: Building Insurance or Leaning Against Appreciation Winds?; 2.4. What Is Driving Financial Dedollarization in Latin America? 2.5. Domestic Demand Growth under Easy and Tight External Financial Conditions: The Role of Exchange Rate FlexibilityFavorable Terms of Trade Continue to Offset Limited Market Access; 2.6. Real Spillovers from Brazil into Neighboring Countries; Mexico and Central America-Recovery Gathers Strength Despite Headwinds from the United States; Mexico: Fiscal Consolidation Amid Weak Trading Partner Outlook; Central America: Rebuilding Policy Buffers; The Caribbean-Turning the Corner Amid Vast Challenges; Securing Growth; Reducing High Debt Burdens; Strengthening the Financial Sector 3. Looking at the Last Credit Cycle to Better Manage the Next OneAn Overview of the Financial System; 3.1. Structure of Private Sector Credit Market: Role of Foreign Banks; Learning from the Last Financial Cycle; How Big Was the Recent Cycle?; 3.2. Government Bond Markets in Latin America; Shifts in Funding and Asset Structure; 3.3. Financial Structure and Corporate Performance during the Global Crisis: Microevidence for Latin America; Differences in Bank Behavior: Foreign and Public Banks; 3.4. Public Banks as a Countercyclical Tool: Experience in Brazil, Chile, and Costa Rica; Asset Quality A Complementary Financing Role of Bond MarketsPolicy Implications for the Ongoing Cycle; Using Macroprudential Regulation to Smooth out Financial Cycles; Keys to Financial Deepening in a Safe Manner; Increasing Crowding in, where Possible; Foreign and Public Banks; Strengthening Other Financial Markets; Final Remarks; 4. Macroprudential Tools in Latin America: A Primer; Systemic Risk and Macroprudential Policy-An Ongoing International Debate; Recent Country Experiences with Macroprudential Tools; 4.1. Dynamic Provisioning in Latin America Summary ""Heating Up in the South, Cooler in the North"" broadly describes the economic scene for the Western Hemisphere. The report emphasizes how a mixed environment--with slow recovery in the United States and other advanced economies, but strength in Asia--differently shapes the outlooks for the diverse economies of Latin America and the Caribbean. This issue also focuses on financial issues in Latin America, with a chapter on the challenges of allowing credit to expand safely, without creating excessive risks, and a chapter that looks at macroprudential financial policies--topics especially impor Bibliography Includes bibliographical references Notes Print version record Subject Economic forecasting -- North America Economic forecasting -- Latin America Economic forecasting -- Caribbean Area Economic development -- North America Economic development -- Latin America Economic development -- Caribbean Area Credit -- Latin America Business cycles -- Latin America Financial institutions -- State supervision -- Latin America Business cycles Credit Economic development Economic forecasting Financial institutions -- State supervision Caribbean Area Latin America North America Form Electronic book ISBN 1589069536 9781589069534

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