La geografía de la gran moderación en América Latina

Carlos A. Carrasco, Xabier Gainza

Research output: Contribution to journalArticlepeer-review


Given the magnitude of the debt crisis in Latin America, several reforms and structural adjustment processes were introduced to stabilize national economies and reduce the business cycle fluctuations. Meanwhile, from the mid-eighties developed countries attained greater stability in inflation and economic growth within a period known as the “Great Moderation”. The aim of this paper is to outline the stabilization process of Latin America during the last three decades based on the graphical analysis of the main macroeconomic variables. Taking into account these variables has allowed us to approach the common causes of the stabilization process, as well as some of the differences that still remain.

Original languageSpanish
Pages (from-to)103-126
Number of pages24
JournalRevista de Economia Mundial
Issue number41
Publication statusPublished - 1 Jan 2015
Externally publishedYes

Bibliographical note

Funding Information:
Los datos provienen de varias fuentes. La inflación para Argentina fue ex-traída de las Estadísticas Financieras Internacionales del Fondo Monetario In-ternacional (IFS-IMF) mientras que la inflación de Chile la obtuvimos del Insti-tuto Nacional de estadística de Chile. Las variables de deuda fueron extraídas de Reinhart y Rogoff (2010) y las variables referentes a los acervos de activos y pasivos financieros de la versión actualizada de Lane y Milesi-Ferretti (2007). El resto de las variables fueron obtenidas de la base de datos de los Indicado-res del Desarrollo Mundial del Banco Mundial.

Publisher Copyright:
© 2018, Universidad de Huelva. All rights reserved.

Copyright 2018 Elsevier B.V., All rights reserved.

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • History
  • Transportation
  • Social Sciences (miscellaneous)
  • Economics and Econometrics
  • Political Science and International Relations

Cite this