La geografía de la gran moderación en América Latina

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.