Financial Reforms and Falling Inequality in Latin America, 2002-12: Are They Connected?
For the last quarter of the twentieth century, Latin America suffered from low growth, rising inequality, and frequent financial upheavals i.e. currency, sovereign debt and banking crises. Things have changed significantly since 2002. Indeed since the turn of the century, the region enhanced its growth performance, reduced inequality, improved its macroeconomic stability and avoided major financial crises. Read the article by Giovanni Andrea Cornia on whether this fall in inequality is due to greater financial stability. What other drivers did the project on new policy models in the region find to be behind diminishing inequality levels in Latin America?