Latin American Local Capital Markets Challenges And Solutions

Author : Mauro Miranda
Publisher : CFA Institute Research Foundation
Page : 92 pages
File Size : 41,7 Mb
Release : 2018-06-15
Category : Business & Economics
ISBN : 9781944960490

Get Book

Latin American Local Capital Markets: Challenges and Solutions by Mauro Miranda Pdf

Capital markets, both for debt and equity securities, have allowed firms to secure funding for productive uses while providing investors with opportunities for portfolio diversification. The importance of capital markets for the development of economies and for the betterment of society cannot be overstated. This is just as true in emerging economies with free markets, such as those found in Latin America, as it is in developed markets. However, capital markets in the region are not being utilized to the fullest. The idea behind this collection of articles is to offer a primer on the development of local capital markets in several select countries in Latin America. We discuss not only their history and current status but also their future. To this end, seven authors contributed to this project, each writing about one of seven countries: Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Uruguay. Each author decided which issues they believe matter most to the progress of their local capital markets. Some authors chose a qualitative and institutional description of local markets, whereas others adopted a more quantitative approach.

Author : Anonim
Publisher : Unknown
Page : 83 pages
File Size : 43,9 Mb
Release : 2018
Category : Capital market
ISBN : 1944960481

Get Book

Latin American Local Capital Markets by Anonim Pdf

Author : Kenroy Dowers,Pietro Masci
Publisher : IDB
Page : 572 pages
File Size : 53,8 Mb
Release : 2003
Category : Business & Economics
ISBN : 1931003491

Get Book

Focus on Capital by Kenroy Dowers,Pietro Masci Pdf

Local capital market development responds to the need to reduce the risk of financial crises that result from an excessive reliance on external borrowing -- for example, to avoid foreign exchange risk, reduce contagion, and decrease short-term external borrowing. In fact, as financial crises dwarf the role of financial intermediation, the problems of asymmetric information become even more severe, leading to greater public mistrust of financial institutions. The contributors in Focus on Capital tackle various aspects of developing Latin American capital markets. Macroeconomic and structural policies, accounting practices and standards, bond market development, market infrastructure, derivatives markets, corporate governance, ethics, human capital, and regional integration all play a role. One of the shortcomings of many strategies for capital market development -- more important than getting the sequencing wrong -- is failing to understand the links between the various components and the need for an overall strategy as well as plans for each component. Focus on Capital analyzes the status of the markets in Latin America and identifies the technical, political, and financial challenges to building vibrant capital markets and increasing the efficiency benefits of regional economic and financial integration.

Author : Augusto de la Torre,Juan Carlos Gozzi
Publisher : World Bank Publications
Page : 43 pages
File Size : 50,8 Mb
Release : 2006
Category : Crisis financiera - America Latina
ISBN : 8210379456XXX

Get Book

Financial Development in Latin America by Augusto de la Torre,Juan Carlos Gozzi Pdf

"This paper argues that the dominant policy paradigm on financial development is increasingly insufficient to address big emerging issues that are particularly relevant for financial systems in Latin America. This paradigm was shaped over the past decades by a fundamental shift in thinking toward market-based financial development and a complex process of financial crises interpretation. The result has been a richly textured policy paradigm focused on promoting financial stability and the convergence to international standards. It argues, however, that there is a growing dissonance between the current paradigm and the emerging issues, which is illustrated by discussing challenges in three areas: stock markets, small and medium enterprise loans, and defined-contribution pension funds. The paper concludes that the dominant policy paradigm is ill-suited to provide significant guidance in relation to the big emerging issues. It emphasizes the need to take a fresh look at the evidence, improve the diagnoses, revisit expectations, and revise the paradigm. "--World Bank web site.

Author : Antonín Basch,Milic Kybal,Luis Sánchez-Masi,Inter-American Development Bank
Publisher : New York : Published for the Inter-American Development Bank [by] Praeger
Page : 192 pages
File Size : 51,8 Mb
Release : 1970
Category : Capital
ISBN : STANFORD:36105035148563

Get Book

Capital Markets in Latin America by Antonín Basch,Milic Kybal,Luis Sánchez-Masi,Inter-American Development Bank Pdf

Comparison of the process of savings and investment in Latin American countries - examines the various types of financial aspects institutions (incl. Banks, stock exchanges, etc.) operating in the capital market, private sector financing and public finance, indicates some conditons that favour a more effective functioning of the capital markets in latin america, and includes 6 country reports (Argentina, Brazil, Colombia, Mexico, Peru and Venezuela). Bibliography pp. 159 to 163 and statistical tables.

Author : Liliana Rojas-Suárez,Mr.Steven Riess Weisbrod
Publisher : International Monetary Fund
Page : 130 pages
File Size : 41,9 Mb
Release : 1994-10
Category : Business & Economics
ISBN : UCSD:31822036722684

Get Book

Financial Market Fragilities in Latin America by Liliana Rojas-Suárez,Mr.Steven Riess Weisbrod Pdf

This paper has two objectives: first, by reviewing the recent experience of five Latin American countries with the restructuring of their financial sectors, it derives lessons regarding the most effective ways to resolve banking difficulties in developing countries. Second, the paper analyzes current policy challenges associated with the health of financial systems in Latin America, including: (a) designing policies to respond to the recent large inflows of capital that maintain long-run macroeconomic stability and healthy financial systems; and (b) evaluating the impact of capital markets competition on the soundness of banking systems.

Author : ANTONIN AUTOR BASCH
Publisher : Unknown
Page : 163 pages
File Size : 55,8 Mb
Release : 1970
Category : Electronic
ISBN : OCLC:859696327

Get Book

CAPITAL MARKETS IN LATIN AMERICA by ANTONIN AUTOR BASCH Pdf

Author : Augusto de la Torre
Publisher : Unknown
Page : 43 pages
File Size : 51,7 Mb
Release : 2016
Category : Electronic
ISBN : OCLC:1290703534

Get Book

Financial Development in Latin America by Augusto de la Torre Pdf

This paper argues that the dominant policy paradigm on financial development is increasingly insufficient to address big emerging issues that are particularly relevant for financial systems in Latin America. This paradigm was shaped over the past decades by a fundamental shift in thinking toward market-based financial development and a complex process of financial crises interpretation. The result has been a richly textured policy paradigm focused on promoting financial stability and the convergence to international standards. It argues, however, that there is a growing dissonance between the current paradigm and the emerging issues, which is illustrated by discussing challenges in three areas: stock markets, small and medium enterprise loans, and defined-contribution pension funds. The paper concludes that the dominant policy paradigm is ill-suited to provide significant guidance in relation to the big emerging issues. It emphasizes the need to take a fresh look at the evidence, improve the diagnoses, revisit expectations, and revise the paradigm.

Author : E. Liliana Rojas-Suárez
Publisher : Unknown
Page : 0 pages
File Size : 41,8 Mb
Release : 1994
Category : Electronic
ISBN : OCLC:1337696200

Get Book

Financial Market Fragilities in Latin America : from Banking Crisis Resolution to Current Policy Challenges by E. Liliana Rojas-Suárez Pdf

Author : OECD,Economic Commission for Latin America and the Caribbean,CAF Development Bank of Latin America,European Commission
Publisher : OECD Publishing
Page : 274 pages
File Size : 46,5 Mb
Release : 2021-12-02
Category : Electronic
ISBN : 9789264682313

Get Book

Latin American Economic Outlook 2021 Working Together for a Better Recovery by OECD,Economic Commission for Latin America and the Caribbean,CAF Development Bank of Latin America,European Commission Pdf

The Latin American Economic Outlook 2021: Working Together for a Better Recovery aims to analyse and provide policy recommendations for a strong, inclusive and environmentally sustainable recovery in the region. The report explores policy actions to improve social protection mechanisms and increase social inclusion, foster regional integration and strengthen industrial strategies, and rethink the social contract to restore trust and empower citizens at all stages of the policy‐making process.

Author : Mr. Luc Laeven
Publisher : International Monetary Fund
Page : 25 pages
File Size : 52,8 Mb
Release : 2014-12-19
Category : Business & Economics
ISBN : 9781498372206

Get Book

The Development of Local Capital Markets: Rationale and Challenges by Mr. Luc Laeven Pdf

Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop local capital markets have had mixed success. This paper reviews the literature on the benefits and costs of developing local capital markets, and describes the challenges faced in the development of such markets. The paper concludes with a set of policy recommendations emerging from this literature.

Author : Augusto de la Torre,Sergio Schmukler
Publisher : World Bank Publications
Page : 228 pages
File Size : 41,9 Mb
Release : 2006-10-20
Category : Business & Economics
ISBN : 0821365444

Get Book

Emerging Capital Markets and Globalization by Augusto de la Torre,Sergio Schmukler Pdf

Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

Author : Osvaldo Rosales,Keiji Inoue,Nanno Mulder
Publisher : UN
Page : 286 pages
File Size : 45,7 Mb
Release : 2015
Category : Business & Economics
ISBN : WISC:89122107279

Get Book

Rising Concentration in Asia-Latin American Value Chains by Osvaldo Rosales,Keiji Inoue,Nanno Mulder Pdf

Dynamic Asia has overtaken the European Union as Latin America and the Caribbean's second largest export market, after the United States. However, the region's exports to Asia remain concentrated in few commodities involved a small number of large firms. This book explores the present and future scope for the participation of small and medium-sized enterprises (SMEs) in biregional trade and value chains and the measures that can be taken to make those chains more inclusive and sustainable. It encourages governments in Latin America to improve the business environment in order to encourage multinational firms to invest, upgrade and innovate in the region.

Author : Barbara Stallings
Publisher : Rowman & Littlefield
Page : 332 pages
File Size : 46,5 Mb
Release : 2006-03-08
Category : Business & Economics
ISBN : 0815797915

Get Book

Finance for Development by Barbara Stallings Pdf

A Brookings Institution Press and Economic Commission for Latin America and the Caribbean (ECLAC) publication Access to finance is critical in setting the course for development in emerging market economies. In this innovative study, which provides the first book-length analysis of the Latin American financial sector, Barbara Stallings and Rogerio Studart examine the dramatic changes resulting from financial liberalization in the region. The authors begin by discussing the critical transformations taking place in Latin America since 1990—a period marked by acceleration toward a new open, market-oriented development model, and away from a semi-closed model relying heavily on the state. Stallings and Studart examine changes in ownership of the financial sector and government regulation of banking, evaluate the role of capital markets as a source of finance, and compare Latin America's financial sector to that of East Asia. The second section of the book features case studies that demonstrate the changes occurring in Chile, Mexico, and Brazil with particular reference to finance for investment and access to credit. The authors conclude with a set of policy recommendations aimed at strengthening Latin American banks and capital markets so that they can play a greater role in supporting economic development.

Author : Dyna Heng,Anna Ivanova,Rodrigo Mariscal,Ms.Uma Ramakrishnan,Joyce Wong
Publisher : International Monetary Fund
Page : 33 pages
File Size : 45,6 Mb
Release : 2016-04-12
Category : Business & Economics
ISBN : 9781484327531

Get Book

Advancing Financial Development in Latin America and the Caribbean by Dyna Heng,Anna Ivanova,Rodrigo Mariscal,Ms.Uma Ramakrishnan,Joyce Wong Pdf

This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension. The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.