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Income Distribution and the 2008-2012 Economic Crisis: The Latin American Experience

Journal of Economics Library

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Title Income Distribution and the 2008-2012 Economic Crisis: The Latin American Experience
 
Creator RIVAS, Mario Iván Domínguez; Instituto Belisario Domínguez, Senado de la República,
06020 Mexico City
PÁEZ, Benjamín García; National Autonomous University of Mexico, Professor in Economics of Growth and Development Economic, 06020 Mexico City, México
 
Subject —
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Description Abstract. This paper analyses the financial and economic crises that had a differentiated impact in the Latin-American region, depending on the ability of some countries to keep up an aggregate demand -i.e., through redistribution devices like the degree of integration held within the foreign financial sector. Based on a sample of regional economies, and working over a period spanning from 2000 to 2013, we found that countries with a relatively better income distribution and domestic financial systems connected with credit programs supporting consumption and investment, had had a better economic performance than those countries with a strong linkage to the international financial system, given that the crisis was ignited at the banking system and accelerated by the same mechanism over-spreading negative shock effects on their capacity to offset them and, in doing so, try an economic recovery. Finally, the authors raise some hints to devise correct policy changes to deal in the still aftermath of the crises in Latin America from a post Keynesian perspective.Keywords. Income distribution, Gini coefficient, Financial deepening, Market capitalization, Re-industrialization risks, Re-industrialization projects.JEL. D12, O12, Q28, Q57.
 
Publisher Journal of Economics Library
 
Contributor —
 
Date 2015-12-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEL/article/view/535
10.1453/jel.v2i4.535
 
Source Journal of Economics Library; Vol 2, No 4 (2015): December; 329-333
2149-2379
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEL/article/view/535/602
 
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