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Viral spiral? Contagion, interdependence and fundamentals in Latin America

Bird, G and Mandilaras, A (2003) Viral spiral? Contagion, interdependence and fundamentals in Latin America New Economy, 10 (3). pp. 181-186.

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Some diseases are more contagious than others, but what determines whether a disease spreads or is contained? Proximity is a factor but some have stronger immunity than others. Even vaccination does not guarantee against infection but if a person does get infected there may be an available antidote. Could the same things be said about financial crises, such as those experienced in Latin America? This article looks at the channels through which economic developments in one country can spill over to others. It discusses interdependence and contagion. However, we suggest that the simple 'trigger-spillover' story is deficient in the Latin American context. It would be wrong to view the crisis in Argentina as the root cause of Latin America's current problems. World economic growth has declined and this has more clearly exposed the deficiencies in Latin America's economic fundamentals. But how can countries immunies themselves against crisis and contagion and, in the midst of the crisis, is the IMF doctor prescribing the best medicine?

Item Type: Article
Divisions : Surrey research (other units)
Authors :
Date : 1 September 2003
Depositing User : Symplectic Elements
Date Deposited : 16 May 2017 15:08
Last Modified : 24 Jan 2020 13:58

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