Policy Seminar: Commodity Intensive Growth and Sovereign Ratings Implications
31 Jan 2013
1300 New York Ave., NW, Washington DC -- Conf. Room Andres Bello 4/5, United States
Latin American economies have improved their growth performance in the past decade. A significant part of this improvement has been due to a boom in commodity prices. However, commodity-dependent growth has been traditionally associated with greater macroeconomic volatility. Lucio Vinhas de Souza, Sovereign Chief Economist at Moody´s Investors Service, will examine the extent to which fiscal reliance on commodities leaves countries vulnerable to global commodity price shocks and whether institutional innovations in the form of fiscal rules mitigate this external risk.