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Record Nr. |
UNINA9910785528303321 |
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Autore |
Piñón-Farah Marco |
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Titolo |
Central America, Panama, and the Dominican Republic : : Challenges Following the 2008-09 Global Crisis: Challenges Following the 2008-09 Global Crisis / / Marco Piñón-Farah, Alejandro Lopez Mejia, M. (Mario) Garza, Fernando Delgado |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2012 |
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ISBN |
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1-4755-4381-6 |
1-4755-7201-8 |
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Descrizione fisica |
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1 online resource (462 p.) |
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Altri autori (Persone) |
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Lopez MejiaAlejandro |
GarzaM. (Mario) |
DelgadoFernando |
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Soggetti |
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Global Financial Crisis, 2008-2009 |
Banks and Banking |
Finance: General |
Macroeconomics |
Money and Monetary Policy |
Public Finance |
Foreign Exchange |
Banks |
Depository Institutions |
Micro Finance Institutions |
Mortgages |
Debt |
Debt Management |
Sovereign Debt |
Interest Rates: Determination, Term Structure, and Effects |
Monetary Systems |
Standards |
Regimes |
Government and the Monetary System |
Payment Systems |
Taxation, Subsidies, and Revenue: General |
Monetary Policy |
Banking |
Public finance & taxation |
Monetary economics |
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Financial services law & regulation |
Public debt |
Central bank policy rate |
Revenue administration |
Monetary policy frameworks |
Financial services |
Monetary policy |
Dollarization |
Currencies |
Money |
Banks and banking |
Debts, Public |
Interest rates |
State supervision |
Revenue |
Central America Economic conditions |
Dominican Republic |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di contenuto |
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Cover Page; Title Page; Copyright Page; Contents; Structural Reforms; Fiscal Policy; Monetary Policy and Bank Supervision; Foreword; Overview; Abbreviations; Part I: Central America, Panama, And The Dominican Republic Before And During The Global Financial Crisis; 1 External Linkages and Economic Integration as of 2009; 2 The 2008-09 Global Crisis: Impact, Policy Responses, and the Role of the IMF; Part II Policy Challenges: A View From 2011; 3 The Challenge of Boosting Growth; 4 A Framework for Assessing the Level of Public Debt; 5 The Fiscal Position: Prospects and Options for Adjustment |
6 Monetary Policy Frameworks7 Official Dollarization in El Salvador as an Alternative Monetary Framework; 8 The Effectiveness of Monetary Policy; 9 Financial Supervision and Macroprudential Policies; Contributors; Index; External Linkages and Economic Integration as of 2009; Footnotes; The 2008-09 Global Crisis: Impact, Policy Responses, and the Role of the IMF; The Challenge of Boosting Growth; A Framework for Assessing the Level of Public Debt; The Fiscal Position: Prospects and Options for Adjustment; Monetary Policy Frameworks |
Official Dollarization in El Salvador as an Alternative Monetary FrameworkThe Effectiveness of Monetary Policy; Financial Supervision and Macroprudential Policies |
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Sommario/riassunto |
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Central America, Panama, and the Dominican Republic coped well with the global financial crisis of 2008-09. The impact was generally less severe and shorter lived than in previous episodes, the balance of payments adjustment was orderly, and the stability of the financial system was not compromised. This resilience can be attributed to a large extent to the strengthening of the fiscal frameworks, monetary management, and financial reforms conducted in the years preceding the global crisis. Nevertheless, the region faces considerable challenges |
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for the period ahead, including the need to raise medium term growth above historical levels and protect macroeconomic and financial stability. This book argues that meeting these challenges will have to come from within, in light of the anticipated modest demand growth from trade partners. Raising growth in the region will depend on the adoption of structural reforms that generate substantial productivity gains. Rebuilding fiscal space and securing debt sustainability will hinge on efforts to increase tax revenue and reorienting spending to social and investment priorities. In the non-officially dollarized economies, it will also be essential to strengthen the monetary policy frameworks to keep inflation low and increase exchange rate flexibility, and improve financial regulation and supervision. |
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