LEADER 08439oam 22015734 450 001 9910813046003321 005 20240402045020.0 010 $a1-4755-2015-8 010 $a1-4755-7853-9 035 $a(CKB)2550000000106166 035 $a(EBL)1606433 035 $a(SSID)ssj0000827334 035 $a(PQKBManifestationID)12366027 035 $a(PQKBTitleCode)TC0000827334 035 $a(PQKBWorkID)10830881 035 $a(PQKB)11168338 035 $a(MiAaPQ)EBC1606433 035 $a(Au-PeEL)EBL1606433 035 $a(CaPaEBR)ebr10566336 035 $a(OCoLC)870244907 035 $a(IMF)REOWHDEE2012001 035 $a(IMF)REOWHDEA2012001 035 $a(EXLCZ)992550000000106166 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aRegional Economic Outlook, April 2012, Western Hemisphere 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (71 p.) 225 1 $aRegional Economic Outlook 225 0$aWorld economic and financial surveys,$x0258-7440 300 $a"Apr. 12." 311 $a1-4755-2605-9 311 $a1-61635-253-1 320 $aIncludes bibliographical references. 327 $aCover; Contents; Preface; Executive Summary; 1. United States, Canada, and the World: Outlook and Challenges; 1.1 Global Backdrop: A Quieting Storm?; 1.2 United States: A Stronger, But Still Sluggish Recovery; 1.3 Canada: Rebalancing Growth as the Fiscal Stimulus Fades; 1.4 Implications for Latin America and the Caribbean; Boxes; 1.1 United States: Is the Labor Market Starting to Turnaround?; 1.2 United States: Financial Exposure to Europe; 2. Outlook and Policy Challenges for Latin America and the Caribbean; 2.1 Overview 327 $a2.2 South America's Financially Integrated Economies-Balancing Policies in a Stimulative yet Volatile Environment Tables; 2.1. Macroprudential and Capital Flow Management Measures in the Region; 2.3 South America's Less-Financially Integrated Commodity Exporters-Another Boom-Bust Cycle in the Making?; 2.4 Mexico and Central America-Enduring a Slow U.S. Recovery; 2.5 The Caribbean-Repairing Balance Sheets amid Continued Headwinds; 2.1 Foreign Banks' Exposure and Deleveraging Risks in Latin America and the Caribbean 327 $a2.2 The Importance of Strong Fiscal Buffers: Public Debt Under Downside Scenarios in Financially Integrated Economies 2.3 Can Macro Policies Mitigate Effects of Commodity Boom-Bust Cycles?; 2.4 Competitiveness in Tourism-Intensive Caribbean Countries; 2.2. Western Hemisphere: Selected Economic and Social Indicators, 2001-11; 2.3. Western Hemisphere: Main Economic Indicators, April 2012; 2.4. Western Hemisphere: Main Fiscal Indicators, April 2012; 3. The Effects of Global Financial Shocks on Output in Latin America; 3.1 Macroeconomic Fundamentals and Balance of Payments Pressures 327 $a4. Spillovers from Large Neighbors in Latin America 4.1 Are Depreciations of Brazil's Currency Harmful to its Trading Partners?; 5. Keeping an Eye on Housing Markets in Latin America; 5.1. Data Availability on Select Financial and Housing Sector Indicators; 5.1 Colombia's Mortgage Crisis of the Late 1990's: A Cautionary Tale; References; New Publications from the Western Hemisphere Department 330 3 $aGrowth in much of Latin America remains solid, although it slowed during the second half of 2011 as result of the combined effects of policy tightening and global uncertainties. Under our baseline, we expect growth in Latin America and the Caribbean to moderate to about 3¾ percent in 2012, from about 4½ last year. For many countries, high commodity prices and easy external financing conditions will provide tailwinds. For others, weak growth in the United States and other advanced-country partners, or homegrown fiscal problems, will hold back activity. This edition of the Regional Economic Outlook: Western Hemisphere elaborates on three key themes. First, the global economic environment is somewhat better than in late 2011, but remains risky as renewed tensions from Europe and the likelihood of an oil price shock cannot be discarded. Second, external conditions will remain stimulative for much of Latin America: The double tailwinds of easy external finance and high commodity prices are likely to persist for a while, though not forever. And third, this environment creates opportunities for Latin America-opportunities to build on the resilience and flexibility that has served it so well during the global crisis of 2008-09. This edition also expands on these themes through analytical features on regional spillovers, the growth effects of global financial shocks, and housing and mortgage markets in the region. 410 0$aRegional Economic Outlook 606 $aEconomic forecasting$zNorth America 606 $aEconomic forecasting$zLatin America 606 $aEconomic forecasting$zCaribbean Area 606 $aEconomic development$zNorth America 606 $aEconomic development$zLatin America 606 $aEconomic development$zCaribbean Area 606 $aExports and Imports$2imf 606 $aFinance: General$2imf 606 $aMacroeconomics$2imf 606 $aMoney and Monetary Policy$2imf 606 $aIndustries: Financial Services$2imf 606 $aPublic Finance$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aCommodity Markets$2imf 606 $aHousing Supply and Markets$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aFinance$2imf 606 $aMonetary economics$2imf 606 $aInternational economics$2imf 606 $aProperty & real estate$2imf 606 $aPublic finance & taxation$2imf 606 $aCommodity prices$2imf 606 $aFinancial integration$2imf 606 $aCredit$2imf 606 $aHousing prices$2imf 606 $aPrices$2imf 606 $aPublic debt$2imf 606 $aFinancial institutions$2imf 606 $aFinancial markets$2imf 606 $aInternational finance$2imf 606 $aHousing$2imf 606 $aDebts, Public$2imf 607 $aNorth America$xEconomic conditions 607 $aLatin America$xEconomic conditions$y1982- 607 $aCaribbean Area$xEconomic conditions$y1982- 607 $aUnited States$2imf 615 0$aEconomic forecasting 615 0$aEconomic forecasting 615 0$aEconomic forecasting 615 0$aEconomic development 615 0$aEconomic development 615 0$aEconomic development 615 7$aExports and Imports 615 7$aFinance: General 615 7$aMacroeconomics 615 7$aMoney and Monetary Policy 615 7$aIndustries: Financial Services 615 7$aPublic Finance 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aCommodity Markets 615 7$aHousing Supply and Markets 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aFinance 615 7$aMonetary economics 615 7$aInternational economics 615 7$aProperty & real estate 615 7$aPublic finance & taxation 615 7$aCommodity prices 615 7$aFinancial integration 615 7$aCredit 615 7$aHousing prices 615 7$aPrices 615 7$aPublic debt 615 7$aFinancial institutions 615 7$aFinancial markets 615 7$aInternational finance 615 7$aHousing 615 7$aDebts, Public 676 $a332.10973 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910813046003321 996 $aRegional Economic Outlook, April 2012, Western Hemisphere$94030118 997 $aUNINA