This year's flagship report for the Latin American and Caribbean Region, 'Securing Our Future in a Global Economy', focuses on how governments and individuals cope with economic volatility. The report includes household panel data outlining family strategies to survive economic downturns, and develops policy recommendations that would enable governments to complement these strategies. The study finds that sound domestic macroeconomic policies, income security programs and private savings in strong financial institutions are key elements in strengthening the usually rational strategies employed by households to cope with recessions. The study's authors, a team of economists led by David de Ferranti and Guillermo Perry (respectively the Bank's Vice President and Chief Economist for Latin America and the Caribbean) propose complementary approaches to insure and protect people's incomes and consumption against the risks of volatile global markets.
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