McNair/Gateway Scholars Program USC

John Hernandez

Hernandez.John.JPG

Major and Classification

Economics and Mathematics

Faculty Mentor

  • Jeff Nugent, Ph.D.

Department

  • College of Letters, Arts, & Sciences

McNair Project

The Political Economic Responses to a Global Market Crisis in Peru and Colombia

Abstract
The 2008 Global Recession and its economic effects on Peru and Colombia have demonstrated the instability behind the global market. The length of the crisis and the recovery process has persuaded us to analyze the policy responses to the market shock. In order to give a background to governmental responses we decided the best frame of reference was a comparative study with the Great Depression. We hypothesized a large discrepancy between economic policy responses across time periods only to be surprised in some respects while satisfied in others. We compare various policy trends using online databases to create a qualitative understanding of the main damages caused by the crises along with highlighting the most effective responses.