"This study documents the effects of the 2008–09 global financial crisis on poverty in Latin America and the Caribbean (LAC). In doing so, it describes and decomposes the effects of the crisis on poverty using data from comparable household budget surveys for Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Mexico, Paraguay, Peru, and Uruguay, and labor force surveys for Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, and Uruguay. The study also provides macro-micro modeling of crisis and no-crisis scenarios for Mexico and Brazil, as well as the big picture and program-specific details of the social protection policy responses for these countries and more.
Among the findings are the following. First, the effects of the global financial crisis on those living in poverty were not trivial: more than 3 million people fell into or remained mired in poverty in 2009 as a result of the crisis. Of these, 2.5 million were Mexican. Second, th
