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Author: Noemi Levy
Publisher: Routledge
ISBN: 0429874421
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
Financial capital continues to dominate Western economic organisations, despite major financial and economic crises. While these have not affected Latin American countries in the same way, other economic problems emerged after the reversion of loose monetary policies that debilitated the export-led growth model. This book discusses the issue of the financialised globalisation model in Latin America, looking at the region’s relationship with the international market. This edited collection is divided into three main sections. The first section discusses regional trends highlighting issues of trade and payments in financialised economies, the impact on deindustrialisation, its effect on inequality, external capital movements and monetary policies. The second section analyses the failure of comparative advantages of the export-led model in Colombia, Argentina and Mexico. Finally, the last section deals with the growth of financial balance sheets in small and developing economies such as Chile; how growth, investment and big corporation evolution were affected in Brazil and Mexico; and the effects of foreign exchange activity in Mexico. Through these discussions, this book aims to deepen the understanding of the crisis of financialisation and the export-led model, raising the question of whether it is possible for this model to continue or if it requires major readjustments to unfold economic growth. This book provides a distinctive analysis of the financialisation mechanisms in developing countries in order to emphasise affinities and differences between the countries of the region in productive and financial terms. It will be of great interest to economic and social science scholars and students, to journalists specialising on economic and development issues, and, more importantly, to policy makers.
Author: Noemi Levy
Publisher: Routledge
ISBN: 0429874421
Category : Business & Economics
Languages : en
Pages : 272
Get Book Here
Book Description
Financial capital continues to dominate Western economic organisations, despite major financial and economic crises. While these have not affected Latin American countries in the same way, other economic problems emerged after the reversion of loose monetary policies that debilitated the export-led growth model. This book discusses the issue of the financialised globalisation model in Latin America, looking at the region’s relationship with the international market. This edited collection is divided into three main sections. The first section discusses regional trends highlighting issues of trade and payments in financialised economies, the impact on deindustrialisation, its effect on inequality, external capital movements and monetary policies. The second section analyses the failure of comparative advantages of the export-led model in Colombia, Argentina and Mexico. Finally, the last section deals with the growth of financial balance sheets in small and developing economies such as Chile; how growth, investment and big corporation evolution were affected in Brazil and Mexico; and the effects of foreign exchange activity in Mexico. Through these discussions, this book aims to deepen the understanding of the crisis of financialisation and the export-led model, raising the question of whether it is possible for this model to continue or if it requires major readjustments to unfold economic growth. This book provides a distinctive analysis of the financialisation mechanisms in developing countries in order to emphasise affinities and differences between the countries of the region in productive and financial terms. It will be of great interest to economic and social science scholars and students, to journalists specialising on economic and development issues, and, more importantly, to policy makers.
Author: Barbara Stallings
Publisher: Rowman & Littlefield
ISBN: 0815797915
Category : Business & Economics
Languages : en
Pages : 326
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Book Description
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: Rana S. Gautam
Publisher: Lexington Books
ISBN: 1793647968
Category : Business & Economics
Languages : en
Pages : 183
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Book Description
Gautam, Pinheiro, and Wilson analyze the spread of financialization in Latin America and the Caribbean, highlighting the ideational origins of financialization outside the region, its effects on government budgeting and social inclusion, and options for increased inclusivity.
Author: Mr.Charles Enoch
Publisher: International Monetary Fund
ISBN: 1513520245
Category : Business & Economics
Languages : en
Pages : 226
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Book Description
With growth slowing across much of the Latin America as a result of the end of the commodity supercycle and economic rebalancing in China, as well as fragmentation of the international banking system, policies to stimulate growth are needed. This book examines the financial landscapes of seven Latin American economies—Brazil, Chile, Colombia, Mexico, Panama, Peru, and Uruguay—and makes a case for them to pursue regional financial integration. Chapters set out the benefits to the region of financial integration, the barriers to cross-border activity in banks, insurance companies, pension funds, and capital markets, as well as recommendations to address these barriers. Finally, the volume makes the case that regional integration now could be a step toward global integration in the short term.
Author: Tatiana Didier
Publisher: World Bank Publications
ISBN: 0821398288
Category : Business & Economics
Languages : en
Pages : 587
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Book Description
This book synthesizes the results of a comprehensive analysis of the status, prospects, and challenges of sustainable financial development in Latin America, as well as the lessons for developed and developing countries.
Author: Stephany Griffith-Jones
Publisher: Routledge
ISBN: 1136878084
Category : Business & Economics
Languages : en
Pages : 125
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Book Description
This reissue, initially published in 1984, examines the evolution of international financial flows to Latin America since 1945, along with their implications for National Development . The book describes how, in each of the first three decades since the war, a new agency emerged (foreign investors in the 1950s, official aid agencies in the 1960s and multinational banks in the 1970s) which was willing to play a dynamic role in generating new financial flows to the region. The lack of such an agent in the 1980s, combined with a reluctance on the part of former investors to maintain their level of assistance culminated in an economic debt crisis in Latin America which this work seeks to address, asking the crucial question: what measures should be taken – both nationally and internationally – to deal with this critical issue , in a way that will both encourage Latin American Development and avoid a major international financial crisis?
Author: Max Nagel
Publisher: Taylor & Francis
ISBN: 100098821X
Category : Political Science
Languages : en
Pages : 232
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Book Description
The Governance of Financialization in Latin America and East Asia analyses how states in these areas have adopted different monetary, financial, and foreign exchange policies to govern financialization, which have induced varying levels of state control over financial markets. The book analyzes the puzzling observation of policy divergence by investigating how countries have reacted differently to major financial crises since the 1970s. It shows how Argentina and Japan selected a governance approach to financialization that followed Western prescriptions by propelling unregulated financialization; but also how Chile and South Korea, by contrast, crafted policies to reduce the negative effects of financialization on economic development and financial stability. The book identifies variegated expertise in central banks, ministries of finance, expert commissions, and research institutions that has informed policymaking across Argentina, Chile, Japan, and South Korea since the 1970s. It then demonstrates how governments have used experts to achieve diverse political objectives and explains how governments can use experts to enhance state agency to counter globalization pressures. This book will appeal to scholars of International Political Economy, comparative politics, economics, sociology, development studies, and Latin American and East Asian history. It will also be of interest to economists and policymakers who want to safeguard financial stability and promote economic growth.
Author: Augusto de la Torre
Publisher: World Bank Publications
ISBN: 0821388479
Category : Business & Economics
Languages : en
Pages : 279
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Book Description
The financial systems of Latin America and the Caribbean (LAC) have been widely resilient to the global financial crisis, which reflects strong progress in both macroeconomic management and prudential oversight. However, the current juncture provides a unique tapestry upon which this book examines several key questions and challenges looking forward. Does LAC continue to underperform on some key financial development indicators and, if so, why? How can LAC's financial systems contribute more effectively to the region's welfare and growth? How can LAC secure the benefits of deepening financial development while avoiding the fault lines that recently burst to the surface in other parts of the world?
Author: Dyna Heng
Publisher: International Monetary Fund
ISBN: 1484326814
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
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.
Author: Ms.Liliana Rojas-Suárez
Publisher: International Monetary Fund
ISBN: 9781557755025
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
By reviewing the experiences of Latin American countries with the restructuring of their financial sectors since 1982, this paper derives lessons regarding the most effective ways to deal with banking difficulties in developing countries. It then discusses whether these lessons have been put into practice during the latest crisis. A sample of five countries - Argentina, Chile, Colombia, Mexico, and Peru - is used for this purpose.
