The Peterson Institute released its newest book, How Latin America Weathered the Global Financial Crisis, by José De Gregorio, on January 14, 2014.
The economy of Latin America has responded better to the global financial crisis than the economies of Asia, Europe, or the United States. The region's GDP is 25 percent higher than its precrisis level. De Gregorio, a former governor of the Central Bank of Chile, tells the story of this success from the perspective of a true policy insider. Focusing on the seven largest economies of the region—Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Venezuela, which constitute 90 percent of the region's output—he argues that Latin America was resilient because of good macroeconomic policies, strong financial systems, and "a bit of luck."
De Gregorio, visiting fellow at the Peterson Institute for International Economics, is full professor at the Department of Economics of the Universidad de Chile. He was governor of the Central Bank of Chile from 2007 until 2011. De Gregorio has a degree in civil engineering and a master's degree in engineering from the University of Chile and a PhD in economics from MIT.