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| dc.title | The Legacy of the Crisis: Policy Options in a Favorable Environment |
| dc.contributor.author | Lagarda, Guillermo |
| dc.contributor.author | Manzano, Osmel |
| dc.contributor.author | Prat, Jordi |
| dc.contributor.orgunit | Country Department Central America, Mexico, Panama and the Dominican Republic |
| dc.coverage | Belize |
| dc.coverage | Nicaragua |
| dc.coverage | Panama |
| dc.coverage | Costa Rica |
| dc.coverage | El Salvador |
| dc.coverage | Honduras |
| dc.coverage | Guatemala |
| dc.coverage | Dominican Republic |
| dc.coverage | Central America |
| dc.date.available | 2015-02-27T00:00:00 |
| dc.date.issue | 2015-02-01T00:00:00 |
| dc.description.abstract | The region comprising Central America, Panama and Dominican Republic is on path towards a favorable economic environment, characterized by higher growth in the United States (its main trade partner), lower oil prices, and still low financing costs. This environment represents a window of opportunity for the region to overcome the vulnerabilities inherited from the financial crisis and assure long-term growth. The first legacy of the crisis has been higher public debt, which in turn raised risks of deteriorating credit quality. The second legacy involves higher external flows, which had lead to greater financial complexity and created new channels of contagion. This report identifies risks and lays forward guidelines to mitigate them. In addition, it further illustrates how a deterioration in the external environment can generate lower growth prospects for the region, emphasizing the importance of advancing with the aforementioned reforms. |
| dc.format.extent | 75;77 |
| dc.identifier.doi | http://dx.doi.org/10.18235/0012802 |
| dc.identifier.url | https://publications.iadb.org/publications/english/document/The-Legacy-of-the-Crisis-Policy-Options-in-a-Favorable-Environment.pdf |
| dc.identifier.url | https://publications.iadb.org/publications/spanish/document/El-legado-de-la-crisis-Opciones-de-política-en-un-entorno-favorable.pdf |
| dc.language.iso | en |
| dc.medium | Adobe PDF |
| dc.publisher | Inter-American Development Bank |
| dc.subject | Fiscal Policy |
| dc.subject | Public Debt |
| dc.subject | Financial Risk |
| dc.subject | Public Finance |
| dc.subject.jelcode | G38 - Government Policy and Regulation |
| dc.subject.jelcode | G20 - Financial Institutions and Services: General |
| dc.subject.jelcode | G17 - Financial Forecasting and Simulation |
| dc.subject.jelcode | H63 - Debt • Debt Management • Sovereign Debt |
| dc.subject.jelcode | H60 - National Budget, Deficit, and Debt: General |
| dc.subject.jelcode | H50 - National Government Expenditures and Related Policies: General |
| dc.subject.jelcode | F34 - International Lending and Debt Problems |
| dc.subject.jelcode | E66 - General Outlook and Conditions |
| dc.subject.jelcode | E62 - Fiscal Policy |
| dc.subject.keywords | growth;Nicaragua;Belize;Panama;El Salvador;financial complexity;creditworthiness;fiscal policy;macroprudential regulation;Costa Rica;Central America;public debt;oil prices;Guatemala;Honduras;fiscal space;Dominican Republic |
| dc.type | Monographs |
| idb.identifier.pubnumber | Monographs |