Cover -- Praise for "How Latin America Weathered the Global Financial Crisis" -- Copyright -- Dedication -- Contents -- Preface -- List of Board of Directors -- Acknowledgments -- Map -- Chapter 1 Introduction -- Latin America from a Global Perspective -- Latin America Compared with Other Emerging-MarketEconomies -- Was This Crisis Different for Latin America? -- What Explains Latin America's Resilience? -- Overview of the Book -- Chapter 2 A Favorable International Environment and Effective Monetary and Fiscal Policies -- Good Luck and Terms of Trade -- Controlling Inflation -- Inflation Targeting -- Progress on the Fiscal Front -- Policy Responses during the Global Financial Crisis -- Final Remarks -- Chapter 3 Exchange Rates and International Reserves -- Exchange Rates, Fear of Floating, and Evidence during Crises -- Exchange Rate Pass-Through, Credibility, and Duration ofMisalignments -- Does Low Pass-Through Impair Real Adjustment? -- International Reserves and Exchange Rate Interventions -- International Reserves during the Global Financial Crisis -- Concluding Remarks: Exchange Rates and Global Adjustment -- Chapter 4 Financial Stability -- Causes of the Crisis: Monetary Policy or Financial Fragility? -- Asset Prices, Inflation Targets, and Bubbles in Emerging Markets -- Exchange Rate Volatility and Financial Stability -- Central Banks and Financial Stability -- Interactions between Financial Stability and Price Stability -- Latin American Banks and the Financial Crisis -- Concluding Remarks -- Chapter 5 Capital Flows -- Capital Flows, Current Account, and Exchange Rate: TheBasics -- Capital Inflows and Accumulation of Reserves -- Surges of Capital Inflows -- Gross Flows and Financial Stability -- Capital Controls -- Concluding Remarks -- Appendix 5A -- Chapter 6 From Macroeconomic Policies to Long-Term Growth.

Inequality and Institutions -- Macroeconomic Policies: Virtuous and Vicious Cycles -- Macroeconomic and Financial Policies -- A Final Look at the Region -- References -- About the Author -- Index -- PIIE Publication List -- PIIE Distribution List.