02008cas a2200277 a 4500 AALejournalIMF015173 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498304412 2617-6750 BD-DhAAL BD-DhAAL Celasun, Oya. Fiscal Policy in Latin America : Lessons and Legacies of the Global Financial Crisis / Oya Celasun, Francesco Grigoli, Keiko Honjo, Javier Kapsoli. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (37 pages) Staff Discussion Notes <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Latin America's bold fiscal policy reaction to the global financial crisis was hailed as a sign that the region had finally overcome its procyclical fiscal past. However, most countries of the region have not yet rebuilt their fiscal space, despite buoyant commodity revenues and relatively strong growth in the aftermath of the crisis. Using the experience of Brazil, Chile, Colombia, Mexico, Peru, and Uruguay, this paper examines the lessons and legacies of the crisis by addressing the following questions, among others: How much did the 2009 fiscal stimulus help growth? What shortcomings were revealed in the fiscal policy frameworks? What institutional reforms are now needed to provide enduring anchors for fiscal policy? How much rebuilding of buffers is needed going forward? Mode of access: Internet Grigoli, Francesco. Honjo, Keiko. Kapsoli, Javier. Staff Discussion Notes; Staff Discussion Notes ; No. 2015/006 Full text available on IMF http://elibrary.imf.org/view/journals/006/2015/006/006.2015.issue-006-en.xml IMF e-Library