The Global Financial crisis of 2008 reached countries all around the world while the United States and Europe experienced their worst economic contraction in the last 75 years. There was a fear...Show moreThe Global Financial crisis of 2008 reached countries all around the world while the United States and Europe experienced their worst economic contraction in the last 75 years. There was a fear that the economic turmoil would also severely impact Latin American countries, which had already experienced several crises in recent decades. However, what baffled many experts was how Latin America reacted to the crisis of 2008. Contrary to the reservations of the experts, Latin America emerged from the crisis with only limited damage. In this paper, the impacts of the crisis and the regions reaction to the economic contraction will be analysed in the context of Mexico and Brazil. The aim is to compare the two countries to establish a thorough understanding of the crisis and its country specific implication while providing an answer to the surprising economic resilience of Latin American countries.Show less
