Economic Resilience in Latin America: Projections and Trends in Overcoming Crises and the Path to Development
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Published:
2024-10-31
Keywords:
Economic resilience, South America, Diversification, Economic cycles, Recovery
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Abstract
This study analyzes the economic resilience of South American countries in response to economic crises. A comparative approach was used to evaluate how countercyclical policies and economic diversification impacted the recovery capacity of Brazil, Chile, Ecuador, and Argentina. Historical GDP growth data were collected to identify recovery patterns after significant crises. The results show that Brazil and Chile, with more diversified economies, demonstrated faster and more sustained recovery compared to Ecuador and Argentina, where reliance on raw materials extended periods of recession. The study concludes that economic diversification and the implementation of appropriate policies are essential to strengthen economic resilience. Economic cycles were used to identify contraction and recovery phases, providing a comprehensive view of the economic adaptation process. This analysis has significant implications for policy formulation that promotes greater economic stability and improved adaptive capacity in the region.
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How to Cite
Preciado Ramírez, J. D., Chamorro Quiñónez, J. G., Morán Villamarín, E. D., & Proaño González, E. A. (2024). Economic Resilience in Latin America: Projections and Trends in Overcoming Crises and the Path to Development. Journal of Economic and Social Science Research, 4(4), 136-152. https://doi.org/10.55813/gaea/jessr/v4/n4/138
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Acemoglu, D., & Robinson, J. A. (2012). Why Nations Fail: The Origins of Power, Prosperity and Poverty. ASEAN ECONOMIC BULLETIN, 29(2), 168. https://doi.org/10.1355/AE29-2J
Aghion, P., & Howitt, P. (2012). THE ECONOMICS OF GROWTH.
Alcívar Soria, E. E., Morocho Vargas, J. P., & Zorrilla Rivera, D. K. (2022). Impacto económico del teletrabajo en las PYMES de Santo Domingo de los Tsáchilas período 2021. Journal of Economic and Social Science Research, 2(4), 82–96. https://doi.org/10.55813/gaea/jessr/v2/n4/27
Bravo-Bravo, I. F., Cedeño-Aguilar, C. A., Santander-Salmon, E. S., & Barba-Mosquera, A. E. (2023). Capital Social y la Intención de Emprender. Editorial Grupo AEA. https://doi.org/10.55813/egaea.l.2022.27
Casanova-Villalba, C. I., Gavilanes-Bone, S. A., & Zambrano-Zambrano, M. A. (2022). Factores que dificultan el crecimiento de los emprendimientos de Santo Domingo. Journal of Economic and Social Science Research, 2(1), 18–30. https://doi.org/10.55813/gaea/jessr/v2/n1/44
Development as Freedom - Amartya Sen - Google Libros. (n.d.). Retrieved October 23, 2024, from https://books.google.com.ec/books/about/Development_as_Freedom.html?id=Qm8HtpFHYecC
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Hausmann, R., & Hidalgo, C. (2013). The Atlas of Economic Complexity: Mapping Paths to Prosperity. www.draft.cl
Hofman, A. A., & Elgar, E. (n.d.). The Economic Development of Latin America in the Twentieth Century.
Hurtado-Guevara, R. F., López-Pérez, P. J., & Muñoz- Intriago, K. R. (2024). Ética Contable en la Gestión Pública: Análisis Crítico de la Literatura. Horizon Nexus Journal, 2(3), 60-76. https://horizonnexusjournal.editorialdoso.com/index.php/home/article/view/7
Macias-Loor, J. M., Andrade Conforme, C. L., Pilatuña Vélez, L. D., & Pin Zamora, L. F. (2022). El impacto del comportamiento de los individuos en las organizaciones. In Resultados Científicos de la Investigación Multidisciplinaria desde la Perspectiva Ética (pp. 117–133). Editorial Grupo AEA. https://doi.org/10.55813/egaea.cl.2022.15
Mazzucato, M. (n.d.). The Entrepreneurial State Debunking Public vs. Private Sector Myths.
Moreno, C., Allam, Z., Chabaud, D., Gall, C., & Pratlong, F. (2021a). Introducing the “15-Minute City”: Sustainability, Resilience and Place Identity in Future Post-Pandemic Cities. Smart Cities 2021, Vol. 4, Pages 93-111, 4(1), 93–111. https://doi.org/10.3390/SMARTCITIES4010006
Moreno, C., Allam, Z., Chabaud, D., Gall, C., & Pratlong, F. (2021b). Introducing the “15-Minute City”: Sustainability, Resilience and Place Identity in Future Post-Pandemic Cities. Smart Cities, 4(1), 93–111. https://doi.org/10.3390/smartcities4010006
Müller, R., & Turner, R. (2010). Leadership competency profiles of successful project managers. International Journal of Project Management, 28(5), 437–448. https://doi.org/10.1016/J.IJPROMAN.2009.09.003
Mundial, B. (2020). World Development Indicators. https://wdi.worldbank.org/tables
Ocampo, J. A. (2020). The Economic Development of Latin America in the Twentieth Century. Oxford University Press.
Ramírez, P., Danny, J., Bravo, B., & Fernanda, I. (2021). Keynes y la crisis financiera de 1929, panorama de la Gran Depresión. Journal of Economic and Social Science Research, 1(1), 38–48. https://doi.org/10.55813/GAEA/JESSR/V1/N1/19
Ruiz-Zambrano, L. G., Herrera Sánchez, M. J., Marcillo Macías, A. M., & Baque Cuenca, M. Ángel. (2022). Análisis de factores que limitan el crecimiento económico en las PYMES de Quinindé periodo 2022. Código Científico Revista De Investigación, 3(3), 316–333. https://doi.org/10.55813/gaea/ccri/v3/n3/68
Sen, A. (1999). Development as Freedom. Knopf.
Sen, A. K. (1999). Women’s agency and social change. Development as Freedom, 189–203. https://books.google.com/books/about/Development_as_Freedom.html?hl=es&id=Qm8HtpFHYecC
van Niekerk, A. J. (2020). Inclusive Economic Sustainability: SDGs and Global Inequality. Sustainability, 12(13), 5427. https://doi.org/10.3390/su12135427
Viejó-Altamirano, J. M., & Caicedo-Aldaz, J. C. (2024). Innovaciones en Agricultura Sostenible: Un Estudio Exploratorio de las Nuevas Tendencias. Horizon Nexus Journal, 2(3), 31-44. https://horizonnexusjournal.editorialdoso.com/index.php/home/article/view/5
Weber, M. M. (2023). The Relationship between Resilience and Sustainability in the Organizational Context—A Systematic Review. Sustainability, 15(22), 15970. https://doi.org/10.3390/su152215970
Zeng, X., Yu, Y., Yang, S., Lv, Y., & Sarker, M. N. I. (2022). Urban Resilience for Urban Sustainability: Concepts, Dimensions, and Perspectives. Sustainability, 14(5), 2481. https://doi.org/10.3390/su14052481
Zhai, L., & Lee, J. (2024). Investigating Vulnerability, Adaptation, and Resilience: A Comprehensive Review within the Context of Climate Change. Atmosphere, 15(4), 474. https://doi.org/10.3390/atmos15040474