Latin America and the Global Financial Crisis

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The Global Financial Crisis and currency crises in Latin America (2012, background): “Brazil faced a strongly appreciated currency before the onset of the crisis and had an unprecedented high level of foreign reserves (Ocampo, 2009).”
Contagion and Banking Crisis - International Evidence for 2007-2009 (2015, result): “Bordo et al. (2001) estimate losses of around 6 percent of GDP associated with a banking crisis in the last quarter of the 20th century, whilst Laeven and Valencia (2013) document losses of about 30 percent of GDP during the global financial crisis (GFC) of 2007–2009.”