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Les économies émergentes dans un monde interdépendant : le cas de l’Amérique latine

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  • Manuel Balmaseda
  • Elena Nieto

Abstract

[eng] Emerging economies in an interdependent World : the case of Latin America . Until the turn of the century, the reference to a country as an emerging economy had negative connotations : uncertain, risky, « poor » policy making, etc. In the last decade, countries have been able to change this perception to a great extent, as global integration progressed. At the onset of the current crisis emerging countries were presented as the motors of global growth. As the crisis developed, it became clear that emerging economies could not remain isolated in a rapidly deteriorating global economic and financial environment. These economies, however, have behaved relatively well in the mists of the crisis. The reason for this resilience can be found in the policy decisions taken during the boom years that improved theses economies’ fundamentals, allowing them to better withstand the headwinds they have faced. There is still significant work ahead, particularly in terms of improvements in human capital, regulatory framework and infrastructure capital, but the trend shown by emerging economies is quite promising. . Classification JEL : E44, E63, F34, O54. [fre] Jusqu’au tournant du siècle, désigner un pays comme une « économie émergente » avait une connotation négative : incertitudes, risques, piètres décisions politiques et économiques, etc. Au cours de la dernière décennie, certains pays ont réussi à modifier considérablement cette perception, avec l’avancement de l’intégration mondiale. Au début de la crise actuelle, les pays émergents ont été décrits comme les moteurs de la croissance mondiale. À mesure que la crise s’étendait, il est apparu que les économies émergentes ne pouvaient plus se tenir à l’écart d’un environnement économique et financier mondial qui se détériorait rapidement. Pourtant, ces économies ont tenu relativement bien au beau milieu de la crise. Les raisons de cette résilience peuvent être trouvées dans les décisions de politique économique prises pendant les années du boom qui ont amélioré les fondamentaux de ces pays, ce qui leur a permis de mieux résister aux vents contraires. Il reste encore beaucoup à faire, notamment dans l’amélioration du capital humain, des structures de régulation et des investissements d’infrastructures, mais les tendances qui s’affirment dans les économies émergentes sont très prometteuses. . Classification JEL : E44, E63, F34, O54.

Suggested Citation

  • Manuel Balmaseda & Elena Nieto, 2009. "Les économies émergentes dans un monde interdépendant : le cas de l’Amérique latine," Revue d'Économie Financière, Programme National Persée, vol. 95(2), pages 71-86.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_2009_num_95_2_5345
    DOI: 10.3406/ecofi.2009.5345
    Note: DOI:10.3406/ecofi.2009.5345
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    References listed on IDEAS

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    1. Guillermo A. Calvo & Alejandro Izquierdo & Luis-Fernando Mejía, 2008. "Systemic Sudden Stops: The Relevance Of Balance-Sheet Effects And Financial Integration," NBER Working Papers 14026, National Bureau of Economic Research, Inc.
    2. Guillermo A. Calvo & Alejandro Izquierdo & Luis-Fernando Mejía, 2008. "Systemic Sudden Stops: The Relevance Of Balance-Sheet Effects And Financial Integration," NBER Working Papers 14026, National Bureau of Economic Research, Inc.
    3. Laura Tuck & Jordan Schwartz & Luis Andres, 2009. "Crisis in LAC : Infrastructure Investment and the Potential for Employment Generation," World Bank Publications - Reports 10986, The World Bank Group.
    4. Javier Santiso, 2007. "Latin America's Political Economy of the Possible: Beyond Good Revolutionaries and Free-Marketeers," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262693593, April.
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    More about this item

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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