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IMF paper on policy lessons from Latin America

The IMF Working Paper "Macroeconomic volatility: The policy lessons from Latin America" traces how the history of macroeconomic volatility and financial crisis over the past century has adversely impacted on growth and other development indicators.

The recent recovery in Latin America has been impressive but also raises the question whether this represents a fundamental break with the region's history of boom-bust cycles. The paper traces how this history of macroeconomic volatility and financial

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