The credit cycle and vulnerabilities in emerging economies: the case of Latin America

Julián Caballero, Ugo Panizza, Andrew Powell 02 April 2014

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Over recent years credit growth in Latin America has been very strong, and countries have become more reliant on foreign bond issuances. These phenomena are linked, and in Caballero et al. (2014), we argue that they may have led to vulnerabilities which domestic and international supervisors are not well-equipped to assess.

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Topics:  Exchange rates Financial markets International finance

Tags:  exchange rates, Latin America, carry trade, credit conditions, original sin

The lingering effects of financial crises

Prakash Kannan 19 November 2009

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The prospects for recovery from the 2008 global financial crisis appear to be on the horizon. The focus in the blogosphere has likewise shifted from forecasting the recession’s depth to predicting the letter characterising the recovery’s output path – U, V, W, or L (Eichengreen and O’Rourke, 2009).

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Topics:  Financial markets Global crisis

Tags:  financial crisis, global crisis, recovery, credit conditions

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