Latin American Economies
Successive Asian and Russian crises have focused attention on the economies of Latin America. Brazil, the largest of these, has experienced capital outflows that reached almost $2 billion (U.S.) on September 11. To some extent, this represents “contagion”—investors’ presumption that all emerging markets are shaky. However, recent data have revealed that Brazil’s public-sector deficit is larger than previously thought.
Suggested citation: “Latin American Economies,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-10, pp. 19, 10.01.1998.