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| Author | : Mauro Miranda |
| Publisher | : CFA Institute Research Foundation |
| Total Pages | : 137 |
| Release | : 2018-06-15 |
| Genre | : Business & Economics |
| ISBN | : 194496049X |
Download Latin American Local Capital Markets: Challenges and Solutions Book in PDF, ePub and Kindle
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 | : |
| Publisher | : |
| Total Pages | : 83 |
| Release | : 2018 |
| Genre | : Capital market |
| ISBN | : 9781944960483 |
Download Latin American Local Capital Markets Book in PDF, ePub and Kindle
| Author | : Kenroy Dowers |
| Publisher | : IDB |
| Total Pages | : 572 |
| Release | : 2003 |
| Genre | : Business & Economics |
| ISBN | : 9781931003490 |
Download Focus on Capital Book in PDF, ePub and Kindle
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 |
| Publisher | : World Bank Publications |
| Total Pages | : 43 |
| Release | : 2006 |
| Genre | : Crisis financiera - America Latina |
| ISBN | : |
Download Financial Development in Latin America Book in PDF, ePub and Kindle
"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 | : Augusto de la Torre |
| Publisher | : World Bank Publications |
| Total Pages | : 232 |
| Release | : 2006-10-20 |
| Genre | : Business & Economics |
| ISBN | : 0821365444 |
Download Emerging Capital Markets and Globalization Book in PDF, ePub and Kindle
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 | : Pedro Aspe Armella |
| Publisher | : University of Chicago Press |
| Total Pages | : 305 |
| Release | : 2009-05-15 |
| Genre | : Business & Economics |
| ISBN | : 0226029972 |
Download Financial Policies and the World Capital Market Book in PDF, ePub and Kindle
The essays brought together in this volume share a common objective: To bring a unifying methodological approach to the analysis of financial problems in developing, open economies. While the primary focus is on contemporary Latin America, the methods employed and the lessons learned are of wider applicability. The papers address the financial integration issue from three different perspectives. In some cases, a country study is the vehicle for an econometric investigation of a particular external linkage. In other cases, an individual country's experience suggests an economic model in which the stylized facts may be analyzed and developed. A third direction is unabashedly theoretical and formulates more general principles which are broadly applicable rather than country-specific.
| Author | : Bernhard Fischer |
| Publisher | : |
| Total Pages | : 62 |
| Release | : 1995 |
| Genre | : |
| ISBN | : |
Download Institutional Investors and Capital Market Development Book in PDF, ePub and Kindle
| Author | : Antonín Basch |
| Publisher | : New York : Published for the Inter-American Development Bank [by] Praeger |
| Total Pages | : 192 |
| Release | : 1970 |
| Genre | : Capital |
| ISBN | : |
Download Capital Markets in Latin America Book in PDF, ePub and Kindle
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 | : Mr.Mohamed A. El-Erian |
| Publisher | : International Monetary Fund |
| Total Pages | : 15 |
| Release | : 1991-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451957912 |
Download The Restoration of Latin America's Access to Voluntary Capital Market Financing Book in PDF, ePub and Kindle
After a prolonged and almost total reliance on debt restructurings and concerted new money facilities, several Latin American countries have, over the last two years, mobilized voluntary financing from international capital markets. Although the phenomenon is still relatively limited in terms of volume and number of borrowers, it has nevertheless attracted considerable attention. The paper reviews the nature, magnitude and terms of the market re-entry process and, by drawing upon recent country experiences, analyzes the factors that have facilitated it. This provides the basis for a discussion of the key elements affecting the short-term prospects for Latin American private and public sector voluntary debt and equity financing from international capital markets.
| Author | : Augusto de la Torre |
| Publisher | : |
| Total Pages | : 43 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
Download Financial Development in Latin America Book in PDF, ePub and Kindle
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.
