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E-RESOURCE
Author Sahay, Ratna.

Title Volatility and Growth in Latin America [electronic resource] : An Episodic Approach / Ratna Sahay.

Published Washington, D.C. : International Monetary Fund, 2006.

Copies

Location Call No. Status
 UniM INTERNET resource    AVAILABLE
Physical description 1 online resource (52 p.)
Series IMF Working Papers; Working Paper ; No. 06/287
IMF Working Papers; Working Paper ; No. 06/287
Summary This paper compares the pattern of macroeconomic volatility in 17 Latin American countries during episodes of high and low growth since 1970, examining in particular the role of policy volatility. Macroeconomic outcomes are distinguished from macroeconomic policies, structural reforms and reversals, shocks, and institutional constraints. Based on previous work, a composite measure of structural reforms is constructed for the 1970-2004 period. We find that outcomes and policies are more volatile in low growth episodes, while shocks (except U.S. interest rates) are similar across episodes. Fiscal policy volatility is associated with lower growth, but fiscal policy procyclicality is not. Low levels of market-oriented reforms and structural reform reversals are also associated with lower growth.
Notes Description based on print version record.
Other author Goyal, Rishi.
Sahay, Ratna.
Subject Econometric and Statistical Methods: Special Topics: General
Episodic Approach
Exchange Rate Regime
Fiscal Balance
Fiscal Policy
Growth
ISBN 1451865473 : 18.00 USD
9781451865479
ISSN 1018-5941
Standard Number 10.5089/9781451865479.001