Table of Contents
Volume 3, Number 2
The global economic crisis
has sent shock waves
rippling through the
region, but it’s also proved
that sound fiscal and
monetary policies can help
governments ride out the
worst of the storm.
Our Special Section
starts on page 40.
42 Here We Go Again RicaRdo Hausmann
Just when Latin America seemed to have overcome
its chronic boom-bust cycles, the implosion on
Wall Street raised new worries about instability.
49 Are We There Yet? Pablo E. Guidotti
International financial institutions, working
together with governments, can restore the
confidence needed to get markets moving again.
54 ChartiCle: Picking Up the Pieces
A pocket guide to prosperity.
56 From Decoupling to Deleveraging
bEnjamin d. Wolf
The rise (and fall) of capital markets is an object
lesson for Latin America’s policymakers.
63 Putting Lipstick on a Piggy Bank
Economies that are surviving the financial crisis.
64 Will Prudence Prevail?
The new depression could strengthen
populist demagoguery across the region—
unless governments respond to social
and economic needs with flexibility.
70 Ask The Experts:
Do’s and Don’ts for Policymakers in
the Midst of an Economic Crisis
fERnando HEnRiquE caRdoso
76 Mexico’s Fragile Middle Class
The recession could prod Mexico into policies
that protect its new middle class while tackling
83 Spain’s Efforts to
Nudge Immigrants Home
As Spain sinks into a recession, it’s
pushing immigrants home.
85 The Remittance Hole
maRcElo m. suáREz-oRozco
As migrant laborers worldwide suffer a cash
crunch, trouble looms for the families left behind.