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The Euro Experience and Lessons for Latin America

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dc.contributor.author Hurtado, Carlos
dc.date.accessioned 2014-02-18T21:37:20Z
dc.date.available 2014-02-18T21:37:20Z
dc.date.issued 2012-10
dc.identifier.uri http://hdl.handle.net/10986/17077
dc.description.abstract It is natural to think, and economic theory predicts, that integration in an economic zone like Europe fosters growth and development, particularly when integration refers to trade opening among countries. It is expected that openness (to trade) promotes growth and being closed (to trade) deters it. Trade theory also concludes that (trade) integration is beneficial to all countries, large and small, and that small economies are likely to benefit relatively more from integration. This note reviews the development of the European Union's euro zone and its impacts on growth and finds lessons that can be useful for Latin America. en
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries Economic premise;no. 92
dc.rights CC BY 3.0 IGO
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject LIQUIDITY
dc.subject STRUCTURAL PROBLEMS
dc.subject PRIVATE DEBT
dc.subject PUBLIC EXPENDITURE
dc.subject ECONOMIC POLICY
dc.subject UNEMPLOYMENT
dc.subject BANKING UNION
dc.subject RECESSION
dc.subject REAL DEPRECIATION
dc.subject DEBTS
dc.subject SOVEREIGN RISK
dc.subject EXPENDITURES
dc.subject PURCHASING POWER PARITY
dc.subject BALANCE SHEETS
dc.subject CENTRAL BANK
dc.subject MONETARY UNION
dc.subject JUDICIAL SYSTEMS
dc.subject TERMS OF CAPITAL
dc.subject LENDER OF LAST RESORT
dc.subject FISCAL ACCOUNTS
dc.subject COMMON CURRENCY
dc.subject GROSS DOMESTIC PRODUCT
dc.subject FISCAL BALANCE
dc.subject QUALITY OF EDUCATION
dc.subject PUBLIC FINANCES
dc.subject PROPERTY RIGHTS
dc.subject CURRENT ACCOUNT DEFICITS
dc.subject DUTCH DISEASE
dc.subject EXPENDITURE INCREASE
dc.subject INVESTMENT EXPENDITURE
dc.subject SLOW GROWTH
dc.subject TAX
dc.subject SOCIAL SECURITY
dc.subject CURRENT ACCOUNT
dc.subject REAL INCOME
dc.subject GDP PER CAPITA
dc.subject UNCERTAINTY
dc.subject REAL GDP
dc.subject DECISION MAKING
dc.subject CROSS-BORDER TRANSACTIONS
dc.subject FINANCIAL SECTOR
dc.subject FIXED EXCHANGE RATE
dc.subject ASSETS
dc.subject PURCHASING POWER
dc.subject ECONOMIC GROWTH
dc.subject SOCIAL WELFARE
dc.subject COMMODITY
dc.subject PENSION
dc.subject PUBLIC DEBT
dc.subject DEVELOPMENT BANK
dc.subject ECONOMIC DOWNTURN
dc.subject STRUCTURAL DEFICIT
dc.subject BOND YIELDS
dc.subject STRONG CAPITAL INFLOWS
dc.subject DOMESTIC CURRENCY
dc.subject WAGES
dc.subject BOND
dc.subject COMPETITIVENESS
dc.subject BONDS
dc.subject NOMINAL DEVALUATION
dc.subject ECONOMIC OUTLOOK
dc.subject TAX REGIMES
dc.subject BANKRUPTCY LAWS
dc.subject LOSS OF COMPETITIVENESS
dc.subject COST REDUCTIONS
dc.subject SUPERVISION MECHANISMS
dc.subject TRADE INTEGRATION
dc.subject CAPITAL FLOWS
dc.subject POVERTY REDUCTION
dc.subject LENDER
dc.subject FINANCIAL MARKETS
dc.subject CURRENCY ZONE
dc.subject AGGREGATE EXPENDITURE
dc.subject GDP
dc.subject TREASURY
dc.subject DEBT OVERHANGS
dc.subject BANKRUPTCY
dc.subject INCOME
dc.subject TRADABLE GOODS
dc.subject SMALL ECONOMIES
dc.subject ECONOMIC THEORY
dc.subject EURO ZONE
dc.subject INTERNATIONAL ECONOMICS
dc.subject ILLIQUIDITY
dc.subject NET PUBLIC DEBT
dc.subject SURPLUSES
dc.subject CAPITAL LOSSES
dc.subject PENSIONS
dc.subject FISCAL SUSTAINABILITY
dc.subject INTEREST RATES
dc.subject EMERGING ECONOMIES
dc.subject FISCAL DEFICITS
dc.subject WORLD ECONOMY
dc.subject REAL EXCHANGE RATE
dc.subject INDIVIDUAL CURRENCY
dc.subject INFLATION
dc.subject FISCAL ADJUSTMENT
dc.subject REAL EXCHANGE RATE APPRECIATION
dc.subject BUDGET AUTHORITY
dc.subject LIQUIDITY PROBLEMS
dc.subject FINANCIAL CRISIS
dc.subject PER CAPITA INCOME
dc.subject ACCOUNT DEFICITS
dc.subject FISCAL POLICIES
dc.subject CAPITAL INFLOWS
dc.subject EXPORTS
dc.subject CREDIT MARKETS
dc.subject DEBT OF COUNTRIES
dc.subject PENSION REFORM
dc.subject INDEBTEDNESS
dc.subject SOVEREIGN DEBT
dc.subject AGGREGATE EXPENDITURES
dc.subject CREDIBILITY
dc.subject RETURN
dc.subject CURRENT ACCOUNT BALANCE
dc.subject REAL ESTATE
dc.subject GROSS NATIONAL PRODUCT
dc.title The Euro Experience and Lessons for Latin America en


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