Globalizacion y Crisis Financieras en America Latina

Vol. 23 No. 3 (2003)

Jul-Sep / 2003
Published July 1, 2003

How to Cite

Frenkel, Roberto. 2003. “Globalizacion Y Crisis Financieras En America Latina”. Brazilian Journal of Political Economy 23 (3):437-55.

Globalizacion y Crisis Financieras en America Latina

Roberto Frenkel
Investigador Titular del Centro de Estudios de Estado y Sociedad (CEDES), Profesor de la Universidad de Buenos Aires y Director del Banco de la Provincia de Buenos Aires. Argentina.
Brazilian Journal of Political Economy, Vol. 23 No. 3 (2003), Jul-Sep / 2003, Pages 437-455


The paper focuses on the financial and currency crises that took place in the Latin American financial globalization context. It is presented in four sections. A synthetic view of the financial globalization process and the role played by LA is presented in the first section. The second section presents a model encompassing the eighties’ and nineties’ crises. The position assumed by the IMF is discussed. The third section examines other national financial globalization processes that did not lead to crisis. The “crisis prevention measures”, largely based on that experiences, are then commented. Lastly, the fourth section discusses the national paths leading to “segmented financial integration” and presents some reflections about international coordination problems.

JEL Classification: G01; N16; E44.

Keywords: Financial crises Latin America Caribbean financial markets and the macroeconomy