Finance for Development
Latin America in Comparative Perspective
- 316 pages
- English
- PDF
- Available on iOS & Android
About This Book
A Brookings Institution Press and Economic Commission for Latin America and the Caribbean (ECLAC) publicationAccess 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.
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Table of contents
- Front Cover
- Title Page
- Copyright Information
- Table of Contents
- Acknowledgments
- Finance for Development: Issues and Trends
- Part I: Changes in Latin America's Financial System since 1990: Comparisons with East Asia
- Financial Liberalization, Crisis, and the Aftermath
- Changes in Ownership: Public, Private, and Foreign Banks
- Toward Stability: Regulation, Supervision, and the Marcoeconomic Context
- From Banks to Capital Markets: New Sources of Finance
- Part II: The Impact of the New Financial System on Investment and Access in Latin America
- Chile: Mixed Ownership Provides a New Model
- Mexico: Foreign Banks Assume Control
- Brazil: Public Banks Continue to Play a Key Role
- Part III: Policy Recommendations for a Stronger Financial System
- A Policy Agenda for the Financial Sector
- References
- Index
- Back Cover