Author/s:
María Inés Terra y José Durán Lima (Coordinadores); Fedora Carbajal; Sebastián Herreros; Cecilia Llambí; Alessia Lo Turco; Gonzalo Veliz; Dayna Zaclicever Year:
2010 The international crisis that started in the second semester of 2008 led many governments to adopt protectionist measures as a means to prevent balance of payments problems, foster domestic economic growth and deal with the competition from excess inventories in China and other Asian countries. In many cases, these measures took the form of non-tariff barriers, the impact of which is generally difficult to evaluate. These restrictive measures, of which Latin American countries were not exempt of, aggravated the impacts of the crisis on trade flows.
This book examines the trade policy measures adopted by Latin American and Caribbean countries during the crisis and evaluates quantitatively their impact on the macroeconomy, poverty and inequality. In addition, the book reviews other trade policy options available in crisis contexts. The book aims to provide policy makers with inputs for an informed debate on the impacts of policy changes.
The general conclusion is that despite the adverse impact of the crisis and the measures adopted on output, trade, employment and social indicators, there is scope to adopt policies to lessen these effects, as well as opportunities for a better coordination across the region.
